Revolving Credit Letter of Credit definition

Revolving Credit Letter of Credit means any letter of credit issued under Revolving Credit Commitments.
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Revolving Credit Letter of Credit is defined in Section 4.1.
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Revolving Credit Letter of Credit. “Revolving Credit Loan”, and “Revolving Credit Note”, respectively.
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Examples of Revolving Credit Letter of Credit in a sentence

  • The Issuing Lender shall promptly furnish to the Borrower a copy of such Letter of Credit and promptly notify each Revolving Credit Lender of the issuance and upon request by any Revolving Credit Lender, furnish to such Lender a copy of such Revolving Credit Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

  • Subject to the terms and provisions of such Revolving Credit Letter of Credit, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Revolving Credit Letter of Credit.

  • There was no difference in the number of fixations between rear visibility technologies in darkness.

  • Each Revolving Credit Borrower agrees to pay to the Administrative Agent for the account of the applicable Issuer(s) all administrative expenses of such Issuer(s) in connection with the issuance, maintenance, modification (if any) and administration of each Revolving Credit Letter of Credit issued by such Issuer(s) upon demand from time to time.

  • Prior to 12:00 noon, New York City time, on the Disbursement Date, the Revolving Credit Borrowers will be obligated, on a joint and several basis, to reimburse the applicable Issuer for all amounts which it has disbursed under the Revolving Credit Letter of Credit.

  • The Revolving Credit Borrowers shall assume all risks of the acts, omissions, or misuse of any Revolving Credit Letter of Credit by the beneficiary thereof.

  • The Revolving Credit Borrowers, jointly and severally, agree to pay to the Administrative Agent, for the account of the applicable Issuer, an issuing fee for each Revolving Credit Letter of Credit for the period from and including the date of issuance of such Revolving Credit Letter of Credit to (but not including) the date upon which such Revolving Credit Letter of Credit expires, of 0.25% per annum of the Stated Amount of such Revolving Credit Letter of Credit.

  • Such fee shall be payable by the Revolving Credit Borrowers in arrears on each Quarterly Payment Date and on the Revolving I Credit Commitment Termination Date for any period then ending for which such fee shall not theretofore have been paid, commencing on the first such date after the issuance of such Revolving Credit Letter of Credit.

  • Each Issuer will make available the original of each Revolving Credit Letter of Credit which it issues in accordance with the Issuance Request therefor to the beneficiary thereof (and will promptly provide each of the Revolving Credit Lenders with a Revolving I Credit Commitment with a copy of such Revolving Credit Letter of Credit) and will notify the beneficiary under any Revolving Credit Letter of Credit of any extension of the Stated Expiry Date thereof.

  • The applicable Issuing Lender shall promptly furnish to the Borrower a copy of such Letter of Credit and promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Revolving Credit Lender of the issuance and, upon request by any Revolving Credit Lender, furnish to such Lender a copy of such Revolving Credit Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.


More Definitions of Revolving Credit Letter of Credit

Revolving Credit Letter of Credit means a letter of credit issued by the Issuer pursuant to Section 2.07(a).
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Revolving Credit Letter of Credit. Outstandings means, at any time, an amount equal to the sum of
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Related to Revolving Credit Letter of Credit

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • 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.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

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

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

  • 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 Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

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

  • Revolving Credit means the credit facility for making Revolving Loans and issuing Letters of Credit described in Sections 1.1 and 1.2 hereof.

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • 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.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Incremental Revolving Credit Lender means a Lender with an Incremental Revolving Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class as a result of an Incremental Revolving Credit Commitment.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Revolving Credit Lender means, at any time, any Lender that has a Revolving Credit Commitment at such time.

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

  • 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.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.