Synthetic Letter of Credit Commitment definition

Synthetic Letter of Credit Commitment means the Synthetic Issuing Bank’s obligation to issue Synthetic Letters of Credit pursuant to Section 2.17(a) and, with respect to each Synthetic Lender, such Lender’s Synthetic Letter of Credit Participation Obligation.
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Synthetic Letter of Credit Commitment means the commitment of a Synthetic Letter of Credit Lender to acquire participations in Synthetic Letters of Credit and make Synthetic Letter of Credit Loans pursuant to subsection 2.1A(vi), and "SYNTHETIC LETTER OF CREDIT COMMITMENTS" means such commitments of all Synthetic Letter of Credit Lenders in the aggregate.";
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Examples of Synthetic Letter of Credit Commitment in a sentence

  • In all cases, staff must verify that the particular procurement meets the definition of a single or sole source, and a cost or price analysis must be performed to determine the fairness and reasonableness of the price.

  • In no event shall the Synthetic Letter of Credit Commitment Amount be reduced to an amount that is less than the Synthetic Letter of Credit Outstandings.

  • All Synthetic Deposits shall be refunded and any unpaid interest and participation fees in respect of such Synthetic Deposits, any unreimbursed Disbursements and any other outstanding Obligations relating to the Synthetic Deposits or the Synthetic Letter of Credit Commitment shall be due and payable in full on June 7, 2013.

  • Subsection 2.1D of the Credit Agreement is hereby amended (i) by inserting the text "Synthetic Letter of Credit Commitment," immediately following the text "LC Facility Commitment," in the first sentence of such subsection and (ii) by inserting the text "Synthetic Letter of Credit Loans," immediately following the text "LC Facility Loans," in such first sentence.

  • Without the consent of Administrative Agent, the Credit-Linked Deposit funded by any Synthetic Letter of Credit Lender shall not be released in connection with any assignment of its Synthetic Letter of Credit Commitment, but shall instead be purchased by the relevant assignee and continue to be held for application (if not already applied) pursuant to subsections 3.3B(ii) and 3.3C(i)(b) in respect of such assignee’s obligations under the Synthetic Letter of Credit Commitment assigned to it.

  • The making of a Supplemental Term B Loan, Supplemental Canadian Dollar Term B Loan, LC Facility Loan, Synthetic Letter of Credit Loan or Revolving Loan by an SPC hereunder shall utilize the Supplemental Term B Loan Commitment, Supplemental Canadian Dollar Term B Loan Commitment, LC Facility Commitment, Synthetic Letter of Credit Commitment or Revolving Loan Commitment, as applicable, of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender.

  • Subsection 10.1B(iii) is hereby amended (i) by inserting the text ", Synthetic Letter of Credit Loan" immediately following the text "LC Facility Loan" in the second sentence thereof and (ii) by inserting the text ", Synthetic Letter of Credit Commitment" immediately following the text "LC Facility Commitment" in such sentence.

  • The making of a Supplemental Term Loan, Synthetic Letter of Credit Loan or Revolving Loan by an SPC hereunder shall utilize the Supplemental Term Loan Commitment, Synthetic Letter of Credit Commitment or Revolving Loan Commitment, as applicable, of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender.

Related to Synthetic Letter of Credit Commitment

  • 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.

  • 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 Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Unissued Letter of Credit Commitment means, with respect to any Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower in an amount equal to the excess of (a) the amount of its Letter of Credit Commitment over (b) the aggregate Available Amount of all Letters of Credit issued by such Issuing Bank.

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Canadian Revolving Commitment means, as to each Canadian Revolving Lender, its obligation to make Canadian Revolving Loans to the Canadian Borrower pursuant to Section 2.01, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Canadian Revolving Lender’s name on Schedule 2.01, in the Assignment and Assumption or other agreement pursuant to which such Canadian Revolving Lender becomes a party hereto, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.

  • 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 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).

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.

  • 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.

  • Unused Revolving Credit Commitment of any Lender, at any time, means the remainder of the Revolving Credit Commitment of such Lender at such time, if any, less the sum of (a) the aggregate Outstanding Amount of Revolving Loans made by such Lender, (b) such Lender’s LC Exposure at such time and (c) except for purposes of Section 2.12(a), such Lender’s Applicable Percentage of the aggregate Outstanding Amount of Swingline Loans.

  • Letter of Credit Outstandings means, at any time, the sum of, without duplication, (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • 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.

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • 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.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).