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Revolving Letter of Credit Facility definition

Revolving Letter of Credit Facility means, at any time, an amount equal to the least of (a) the aggregate amount of the Issuing Banks’ Revolving Letter of Credit Commitments at such time, (b) $500,000,000 and (c) the aggregate amount of the Revolving Credit Commitments, as such amount may be reduced at or prior to such time pursuant to Section 2.06 or increased pursuant to Section 2.19.
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Revolving Letter of Credit Facility means, at any time, an amount equal to the amount of the Revolving 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.
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Revolving Letter of Credit Facility means, at any time, an amount equal to the Revolving Issuing Bank’s Revolving 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 Letter of Credit Loan” means, with respect to each Revolving Credit Lender, such Lender’s funding of its participation in any Revolving Letter of Credit Borrowing in accordance with its Pro Rata Share pursuant to Section 2.03. “S&P” means Standard & Poor’s Ratings Services, a division of the XxXxxx-Xxxx Companies, Inc.
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Examples of Revolving Letter of Credit Facility in a sentence

  • Revolving Letter of Credit Facility In July 2016, we amended and restated the revolving letter of credit facility agreement (“LC Facility”), extending the maturity date to July 2019.

  • Within the limits of the US Revolving Letter of Credit Facility, and subject to the limits referred to above, the US Borrower may request the issuance of US Revolving Letters of Credit under this Section 2.01(f)(i), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.04(e) and request the issuance of additional US Revolving Letters of Credit under this Section 2.01(f)(i).

  • Revolving Letter of Credit Facility We have a revolving letter of credit facility agreement (“LC Facility”), which matures in July 2019.

  • Revolving Letter of Credit Facility Our revolving letter of credit facility agreement (“LC Facility”) expired in July 2019, however, as of September 30, 2019, there were six outstanding letters of credit totaling $9.4 million under the LC Facility, which will remain outstanding until the respective letters of credit expire.

  • The M&T Facilities are comprised of the following: • $26,000,0000 Revolving Development Loan with total advances of $46,700,000 permitted during the term.• $15,000,000 Revolving Letter of Credit Facility established for the purpose of giving guarantees to the city securing the developer’s obligations under Public Works Agreements related to the development.

  • Revolving Letter of Credit Facility Our revolving letter of credit facility agreement (“LC Facility”) expired in July 2019, however, as of March 31, 2020, there were five outstanding letters of credit totaling $3.1 million under the LC Facility, which will remain outstanding until the respective letters of credit expire.

  • Revolving Letter of Credit Facility In July 2013, we entered into a LC Facility.

  • The parties agree that all reimbursement and other obligations of the Existing Loan Parties in respect of the Existing Letters of Credit, if then outstanding, shall be refinanced by the Revolving Letter of Credit Facility under this Agreement with effect from the Effective Date and thereafter such letters of credit will be deemed for all purposes of the Loan Documents to have been provided for the account of the Borrower and the Guarantors under the Revolving Letter of Credit Facility under this Agreement.

  • Revolving Letter of Credit Facility In July 2013, we entered into a revolving letter of credit facility agreement (“LC Facility”).

  • The Facility contains cross default provisions related to the Corporate Revolver and Revolving Letter of Credit Facility (“LC Facility”).


More Definitions of Revolving Letter of Credit Facility

Revolving Letter of Credit Facility means the revolving credit facility being made available to the Borrower by the Lenders pursuant to Section 2.1(d).
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Related to Revolving Letter of Credit Facility

  • Revolving Letter of Credit means any letter of credit issued 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.

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

  • 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.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

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

  • 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 any Issuing Bank relating to any Letter of Credit issued by such Issuing Bank.

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

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

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

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

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

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

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

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • 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).

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • 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.

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

Most Referenced Clauses

Most Referenced Definitions