Syndicated Letters of Credit definition

Syndicated Letters of Credit means letters of credit issued under Section 2.01.

Syndicated Letters of Credit means letters of credit issued under Section 2.10C.

Syndicated Letters of Credit means Letters of Credit issued under Section 3.1(a).

Examples of Syndicated Letters of Credit in a sentence

• However, it is acknowledged by the Administrative Agent and the Banks that amendments of outstanding Syndicated Letters of Credit may not be immediately effected.

• Notwithstanding anything to the contrary in this Agreement, no Non-Syndicated Letter of Credit may be requested hereunder for any jurisdiction unless XL Group provides evidence reasonably satisfactory to the Administrative Agent that Syndicated Letters of Credit do not comply with the insurance laws of such jurisdiction.

• With respect to any Syndicated Letter of Credit, the obligation of any Bank under such Syndicated Letter of Credit shall be several and not joint and shall at any time be in an amount equal to such Bank’s Applicable Percentage (or other applicable share if the Company has made a Non-Pro Rata Issuance Election with respect to such Syndicated Letters of Credit) of the aggregate undrawn amount of such Letter of Credit, and each Syndicated Letter of Credit shall expressly so provide.

• Notwithstanding anything to the contrary in this Agreement, no Non-Syndicated Letter of Credit may be requested hereunder for any jurisdiction unless XL Capital provides evidence reasonably satisfactory to the Administrative Agent that Syndicated Letters of Credit do not comply with the insurance laws of such jurisdiction.

• Subject to the terms and conditions set forth herein, at the request of any Account Party the Lenders agree at any time and from time to time during the Availability Period to issue Syndicated Letters of Credit for the account of such Account Party in an aggregate amount that will not result in the Credit Exposure exceeding the Commitments (it being understood that Syndicated Letters of Credit may be issued, or be outstanding, for the account of more than one of the Account Parties at any time).

More Definitions of Syndicated Letters of Credit

Syndicated Letters of Credit means Tranche 1 Letters of Credit and/or Tranche 2 Letters of Credit, as the case may be, issued under Section 3.1(a).

Syndicated Letters of Credit shall have the meaning assigned to such term in Section 2.02(a) hereof.

Syndicated Letters of Credit means Letters of Credit Issued under Section 2.5(a)(i), which shall be substantially in the form of Exhibit A-2 or in such other form as may be agreed upon by the Borrower and the L/C Agent.

Syndicated Letters of Credit means Letters of Credit Issued under Section 2.5(a)(i), which shall be substantially in the form of Exhibit A-2 or in such other form as may be agreed upon by the applicable Borrower and the L/C Agent.

Syndicated Letters of Credit means letters of credit issued under Section 2.01, including, for the avoidance of doubt, each Existing Syndicated Letter of Credit continued hereunder.

Syndicated Letters of Credit the collective reference to Commercial L/Cs, Standby L/Cs and Performance Letters of Credit issued pursuant to subsection 4.1; individually, a "Syndicated Letter of Credit".

Syndicated Letters of Credit means either Standby Letters of Credit or Commercial Letters of Credit issued by the Syndicated Issuing Lender on behalf of the Borrower from time to time in accordance with Section 2.15.