Revolving Letter of Credit definition

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).

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.

Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05.

Examples of Revolving Letter of Credit in a sentence

• The Revolving Letter of Credit Fee shall be due and payable (I) quarterly in arrears on the tenth (10th) Business Day following the end of each March, June, September and December and (II) on the Revolving Credit Termination Date (for the period ended on such date for which no payment has been received pursuant to immediately preceding clause (I) above).

• The acceptance of the benefits of each Credit Event in respect of Revolving Credit Loans and each Revolving Letter of Credit shall constitute a representation and warranty by each Credit Party to each of the Lenders that all the applicable conditions specified in this Section 7 have been satisfied or waived as of that time to the extent required by this Section 7.

• Any action taken or omitted to be taken by the Revolving Letter of Credit Issuer under or in connection with any Revolving Letter of Credit issued by it, if taken or omitted in the absence of gross negligence, bad faith, willful misconduct or a material breach by the Revolving Letter of Credit Issuer of any Credit Document, shall not create for the Revolving Letter of Credit Issuer any resulting liability.

• Notwithstanding that a Revolving Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, the Borrower’s Subsidiaries or the direct or indirect parent of Borrower or its other Subsidiaries, the Borrower shall be obligated to reimburse the relevant Revolving Letter of Credit Issuer hereunder for any and all drawings under such Revolving Letter of Credit.

• At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Revolving Letter of Credit Issuer all accrued and unpaid fees owing to such Revolving Letter of Credit Issuer pursuant to Section 4.1(d).

More Definitions of Revolving Letter of Credit

Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05, including each Existing Letter of Credit.

Revolving Letter of Credit means, at any time, each Letter of Credit outstanding at such time designated as a Revolving Letter of Credit pursuant to Section 2.05(a).

Revolving Letter of Credit means, at any time, any Letter of Credit that has been designated by the Borrower (or deemed designated) as a Revolving Letter of Credit in accordance with the provisions of Section 2.23.

Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05 for the purposes set forth in Section 5.01(e), which letter of credit shall be in form and substance reasonably acceptable to the applicable Issuing Bank, the Administrative Agent and the Borrower.

Revolving Letter of Credit has the meaning specified in Section 2.01(c).

Revolving Letter of Credit means a Canadian Tranche Letter of Credit or a European Tranche Letter of Credit, as applicable.

Revolving Letter of Credit means (a) any Existing Revolving Letter of Credit and (b) any other letter of credit issued under the Revolving Credit Facility on or after the Closing Date. A Revolving Letter of Credit may be a commercial letter of credit or a standby letter of credit.