Revolver Letters of Credit definition

Revolver Letters of Credit is defined in Section 1.2(a) hereof.
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Revolver Letters of Credit has the meaning assigned thereto in Section 2.3(a).
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Revolver Letters of Credit means, on any date of determination, all letters of credit issued pursuant to the Five-Year Credit Agreement. “Statutory Reserve Rate” means, for any Eurodollar Borrowing (determined for the applicable Interest Period), a fraction (expressed as a decimal),
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Examples of Revolver Letters of Credit in a sentence

  • The Borrowers will request WC Letters of Credit solely to support Petroleum Product purchases and to secure bonding and performance obligations and will request Revolver Letters of Credit solely for purposes described in clause (b) above with respect to Revolver Loans.

  • The Borrowers will request WC Letters of Credit and WC Interim Letters of Credit solely to support Petroleum Product purchases and to secure bonding and performance obligations and will request Revolver Letters of Credit solely for purposes described in clause (b) above with respect to Revolver Loans.

  • References herein to "issue" and derivations thereof with respect to Revolver Letters of Credit shall also include extensions or modifications of any existing Revolver Letters of Credit, unless the context otherwise requires.

  • For the duration of each such Cleandown Period, the Borrower shall not request, create or incur any Revolving Credit Loans, Swingline Loans or Revolver Letters of Credit to the extent that the aggregate principal amount of all outstanding Revolving Credit Loans, Swingline Loans and Revolver L/C Obligations (after giving effect to any amount requested, created or incurred) would exceed $15,000,000.

  • Each payment of any Unpaid Reimbursement Obligations on the Revolver Letters of Credit or prepayment of Loans shall be allocated among the Banks, in proportion, as nearly as practicable, to each Bank's Commitment Percentage of such Reimbursement Obligation or (as the case may be) the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

  • After the replacement of a Revolver Issuing Bank hereunder, the replaced Revolver Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of a Revolver Issuing Bank under this Credit Agreement with respect to Revolver Letters of Credit issued by it prior to such replacement, but shall not be required to issue any additional Revolver Letters of Credit or to amend, renew or extend any outstanding Revolver Letters of Credit issued by it.

  • On and after the Effective Date, all of the Revolver Letters of Credit and Stand-Alone Letters of Credit (as such terms are defined in the Initial Credit Agreement) shall be Letters of Credit under the Amended Credit Agreement.

  • If any Default described in Section 7.1(f) or 7.1(g) occurs with respect to the Borrower, the obligations of the Revolving Lenders to make Revolving Loans hereunder and the obligation of the Issuing Lender to issue Revolver Letters of Credit hereunder shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Administrative Agent, any Lender or the Issuing Lender.

  • Subject to all of the terms and conditions hereof, the Borrower may avail itself of the Commitments through letters of credit (the "Revolver Letters of Credit") issued by Bank of America Illinois (in such capacity as issuer of Revolver Letters of Credit, the "Revolver Issuer") for the Borrower's account, provided that the aggregate outstanding undrawn face amount of Revolver Letters of Credit shall not at any time exceed $20,000,000.

  • Xxxxxx ---------------------------------- Notary Public Indenture - Signature Page 135 THE FIRST NATIONAL BANK OF CHICAGO, as Trustee By:/s/ R.


More Definitions of Revolver Letters of Credit

Revolver Letters of Credit means, on any date of determination, all letters of credit issued pursuant to the Five-Year Credit Agreement.
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Revolver Letters of Credit is amended by deleting the reference to “the Five-Year Credit Agreement” therein, and substituting therefor a reference to “the Revolver Facility”.
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Revolver Letters of Credit means any or all of the letters of credit to be issued by the Issuing Lender pursuant to Section 2.19 hereof.
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Related to Revolver Letters of Credit

  • Existing Letters of Credit means each of the letters of credit issued under the Existing Credit Agreement outstanding on the Closing Date that are described on Schedule 1.01(b).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Letters of Credit as defined in Section 3.1(a).

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Revolving Loan Documents means the “Loan Documents” as defined in the Revolving Credit Agreement.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Revolving Credit Agreement means that certain Revolving Credit Agreement dated as of August 30, 2004 between the Company, certain of its Subsidiaries and the banks and financial institutions listed therein, as such agreement may be replaced, amended, supplemented or otherwise modified from time to time.

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).