Supporting Letters of Credit definition

Supporting Letters of Credit means, collectively, those certain irrevocable standby letters of credit issued by a bank or other financial institution acceptable to the Administrative Agent on behalf of one or more of the JCP Parties, which, including, without limitation, (a) are in the possession of the Administrative Agent as the named beneficiary thereunder, (b) are otherwise in form and substance satisfactory to the Administrative Agent in its sole discretion, (c) have more than thirty (30) days remaining in the term of such Supporting Letter of Credit and (d) are maintained in accordance with Section 5.22.
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Supporting Letters of Credit means “clean”, irrevocable, “evergreening” standby letters of credit issued pursuant to the (i) Electrical Supply Agreement and (ii) Natural Gas Supply Agreements to assure the payment of the Borrower’s obligations thereunder.
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Supporting Letters of Credit means, the collective reference to, the Section 1.4.I Supporting Letters of Credit and the Section 1.4.II Supporting Letters of Credit.
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Examples of Supporting Letters of Credit in a sentence

  • In the event Supporting Letters of Credit are not delivered, then the Loan Parties shall provide cash collateral for all remaining Letters of Credit in an amount equal to 110% of the aggregate face amount of such Letters of Credit.

  • The Borrower and the Servicer may from time to time cause to be issued and delivered to the Administrative Agent (and so long as any Enhanced Loans shall be outstanding, shall cause to be maintained) one or more letters of credit that are Eligible Supporting Letters of Credit (a “Supporting Letter of Credit”) issued by Xxxxxxxx Supporting Letter of Credit Providers.

  • Supporting Letters of Credit ...............................................................

  • Such Section 1.4.I Supporting Letters of Credit shall be held by each Canadian Lender and Agent, as security for, and to provide for the payment of, the aggregate undrawn amount of such Pro Rata Canadian Letters of Credit remaining outstanding.

  • Supporting Letters of Credit 100 ARTICLE VIII ADMINISTRATION AND COLLECTION OF RECEIVABLES 100 SECTION 8.01.

  • The Supporting Letters of Credit shall have issued and delivered to the respective Utility Providers.

  • Supporting Letters of Credit 100 ARTICLE VIII ADMINISTRATION AND COLLECTION OF RECEIVABLES 101 SECTION 8.01.

  • Notwithstanding the foregoing, if no Default or Event of Default has occurred and is continuing or would result therefrom, the Specified Supplier Letter of Credit may be reduced or terminated in a maximum amount not to exceed the aggregate amount of all Additional Equity Contributions not otherwise utilized for a reduction to the Supporting Letters of Credit.

  • The Borrower and the Servicer may from time to time cause to be issued and delivered to the Administrative Agent (and so long as any Supporting Letter of Credit shall be outstanding, shall cause to be maintained) one or more letters of credit that are Eligible Supporting Letters of Credit (a “Supporting Letter of Credit”) issued by Xxxxxxxx Supporting Letter of Credit Providers.

  • Such Supporting Letters of Credit shall be held by each Lender and Agent, as security for, and to provide for the payment of, the aggregate undrawn amount of such Letters of Credit remaining outstanding.


More Definitions of Supporting Letters of Credit

Supporting Letters of Credit collectively, those certain irrevocable standby letters of credit in form and substance satisfactory to the Agent, issued by Bank Hapoalim or other financial institution acceptable to Agent, in an aggregate face amount and maintained in accordance with Section 10.1.14.
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Supporting Letters of Credit has the meaning specified in Section 1.3(h).
Sample 1
Supporting Letters of Credit means one or more standby letters of credit, in form and substance reasonably satisfactory to the Issuing Bank and the Administrative Agent, issued by a Permitted Commercial Bank reasonably satisfactory to the Issuing Bank and the Administrative Agent and in an aggregate stated amount equal to the LC Shortfall Amount.
Sample 1

Related to Supporting Letters of Credit

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

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

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

  • Letters of Credit as defined in Section 3.1(a).

  • 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.

  • 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.

  • 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.

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

  • 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 Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

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

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) 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, each as the same may be modified and supplemented and in effect from time to time.

  • 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.

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

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • 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.

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Letter of Credit Liabilities means, for any Lender and at any time, such Lender’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.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

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

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • 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.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • 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 obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.