Secured Bilateral Letter of Credit definition

Secured Bilateral Letter of Credit means each performance or financial letter of credit that is permitted to be secured, ratably among the LOC Banks as set forth in the Intercreditor Agreement, by a Lien on Collateral under the Loan Documents pursuant to Section 7.03(h) and that is issued by an LOC Bank for the account of the Company and/or any (or one or more) Subsidiary of the Company.
Sample 1Sample 2Sample 3
Secured Bilateral Letter of Credit means any performance or financial letter of credit that is issued by a LOC Bank for the account of any Loan Party or any Subsidiary of a Loan Party; provided that the aggregate amount of all such Secured Bilateral Letters of Credit shall not exceed $35,000,000.
Sample 1Sample 2Sample 3
Secured Bilateral Letter of Credit means any Bilateral Letter of Credit that is issued by a Bilateral Letter of Credit Bank for the benefit of any Credit Party or any Subsidiary.
Sample 1Sample 2

Examples of Secured Bilateral Letter of Credit in a sentence

  • Notwithstanding the foregoing, Secured Obligations arising under Secured Banking Services Agreements, Secured Swap Agreements and Secured Bilateral Letter of Credit Facilities shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Banking Services Provider, Swap Bank or Bilateral L/C Issuer, as the case may be.

  • For the avoidance of doubt, no release of Collateral or Guarantors effected in the manner permitted by this Agreement shall require the consent of any holder of obligations under any Secured Cash Management Agreements, Secured Hedge Agreements or Secured Bilateral Letter of Credit Agreements.

  • For purposes of Section 8.10 and this Section 8.15, each Lender that is or becomes a Specified Swap Counterparty, Secured Bilateral Letter of Credit Provider and/or Cash Management Bank is executing this Agreement in its capacity as each of a Lender, Specified Swap Counterparty, Secured Bilateral Letter of Credit Provider and/or Cash Management Bank, as applicable.

  • The Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Secured Cash Management Agreements, Secured Hedge Agreements and Secured Bilateral Letter of Credit Facilities.

  • No person shall have any voting rights under any Loan Document solely as a result of the existence of obligations owed to it under any such Secured Cash Management Agreement, Secured Hedge Agreement or Secured Bilateral Letter of Credit Agreement.


More Definitions of Secured Bilateral Letter of Credit

Secured Bilateral Letter of Credit means any Bilateral Letter of Credit that is issued by a Bilateral Letter of Credit Bank for the benefit of any Loan Party or any Restricted Subsidiary. “Secured Hedge Agreement” means any Swap Contract that is entered into by and between any Loan Party or any Restricted Subsidiary and any Hedge Bank.; provided that, in no event shall any Swap Contract constitute a Secured Hedge Agreement hereunder to the extent that the obligations of any Loan Party or any other Restricted Subsidiary arising under such Swap Contract constitute “Obligations” under and as defined in the Term Loan Credit Agreement. “Secured Leverage Ratio” means, with respect to any Test Period, the ratio of (a) Consolidated Total Debt that is secured by a Lien on the Collateral as of the last day of such 73 #95488248v20
Sample 1

Related to Secured Bilateral 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.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor, any certificate or other document presented in connection with a drawing under such Letter of Credit and any other agreement, instrument or other document governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations.

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

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

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.