Rollover Letter of Credit definition

Rollover Letter of Credit. 3.5.2 “Rollover Reserve Subaccount” - 3.5
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Rollover Letter of Credit shall have the meaning set forth in Section 2.17(b).
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Rollover Letter of Credit means each letter of credit issued under the Existing UE/Genco Credit Agreement that is an Existing Letter of Credit or an “Existing Letter of Credit” under the New Genco Credit Agreement.
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Examples of Rollover Letter of Credit in a sentence

  • The stated amount of each Existing Rollover Letter of Credit and the expiry date therefor as of the Closing Date is set forth on Schedule 2.4.

  • As of the Tranche A Letter of Credit Expiration Date, each Tranche A Rollover Letter of Credit shall be deemed, for all purposes of this Agreement (including paragraphs (c), (d) and (e) of this Section), to be a Tranche B Letter of Credit issued hereunder.

  • Notwithstanding anything to the contrary contained in Section 3.5.1, at Borrower’s option, Borrower may at any time deliver a Letter of Credit to Lender in an amount equal to the applicable Lease Sweep Rollover Amount (the “Rollover Letter of Credit”), which Rollover Letter of Credit shall be held by Lender subject to and in accordance with the provisions of this Section 3.5.

  • If Borrowers fail to timely pay for any Approved Major Lease Leasing Expenses and such failure continues for ten (10) days after written notice from Lender, Lender shall have the right, but not the obligation, to draw on the Special Rollover Letter of Credit for purposes of making such payment of Approved Major Lease Leasing Expenses.

  • On the Maturity Date, the Special Rollover Letter of Credit may be drawn upon by Lender and applied to any unpaid portion of the Debt.

  • The Rollover LC Commission shall be computed on a per annum basis from the first day of issuance of each Rollover Letter of Credit and on the basis of the actual number of days elapsed over a year of 360 days.

  • Any Lender hereunder to the extent it has issued a Rollover Letter of Credit or an Existing Letter of Credit shall constitute a “Synthetic Issuing Bank” for all purposes of this Agreement.

  • If Borrower fails to timely pay for any Approved Leasing Expenses and such failure continues for ten (10) days after written notice from Lender, Lender shall have the right, but not the obligation, to draw on the Rollover Letter of Credit for purposes of making such payment of Approved Leasing Expenses.

  • On the Maturity Date, the Rollover Letter of Credit may be drawn upon by Lender and applied to any unpaid portion of the Debt.

  • As of the Closing Date, the Rollover Letter of Credit shall constitute, for all purposes of this Agreement and the other Loan Documents, a Letter of Credit issued and outstanding under this Agreement.


More Definitions of Rollover Letter of Credit

Rollover Letter of Credit means, with respect to any Acquired Business, any undrawn letter of credit issued on behalf or in respect of such Acquired Business and outstanding on the date the relevant Permitted Acquisition shall have been consummated; provided that (x) the issuer of such letter of credit shall be or shall have become an Issuing Lender hereunder, (y) each of the conditions set forth in Section 4.02 shall have been satisfied and (z) such letter of credit shall comply with all other applicable requirements of this Agreement with respect to Letters of Credit issued hereunder (including, without limitation, Section 2.05(c)), in each case on and as of such date.
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Rollover Letter of Credit means any letter of credit listed on Schedule 1.02 hereto, and any renewal, extension or amendment or increase in any such letter of credit.
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Rollover Letter of Credit means each letter of credit issued under the Existing UE/Genco Credit Agreement that is an Existing Letter of Credit or an “Existing Letter of Credit” under the New Union Electric Credit Agreement.
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Rollover Letter of Credit means that certain letter of credit outstanding on the Closing with a stated amount of $310,991.71, issued by Wells Fargo for the account of Borrower under the Existing Loan Axxxxxent, and any renewal, extension or amendment or increase in any such letter of credit pursuant to the terms of this Agreement.
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Rollover Letter of Credit has the meaning assigned thereto in the definition of “Existing Letters of Credit”.
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Rollover Letter of Credit means any letter of credit that (a) was issued under the Prepetition LC Facility and (b) remains outstanding on the Exit Facility Conversion Date.
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Related to Rollover Letter of Credit

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

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

  • 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 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).

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

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit SUBI Collections into the 2019-B SUBI Collection Account by the related Deposit Date.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • 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.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • 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.

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

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Performance Letter of Credit means any standby Letter of Credit which represents an irrevocable obligation to the beneficiary on the part of the Issuing Bank to make payment on account of any default by the account party in the performance of a nonfinancial or commercial obligation.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • 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 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 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.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

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