Synthetic Letter of Credit Outstandings definition

Synthetic Letter of Credit Outstandings means, on any date, an amount equal to the sum of (i) the then aggregate Stated Amount of all issued and outstanding Synthetic Letters of Credit and (ii) the then aggregate amount of all unpaid and outstanding Synthetic Reimbursement Obligations.
Sample 1Sample 2Sample 3
Synthetic Letter of Credit Outstandings at any time, the sum of (i) the aggregate undrawn stated amount of all Synthetic Letters of Credit issued then outstanding at such time and plus (ii) the aggregate amount of drawings under Synthetic Letters of Credit that have not then been reimbursed pursuant to Section 3.10.
Sample 1Sample 2
Synthetic Letter of Credit Outstandings is defined in the Prepetition Credit Agreement, but, unless the context otherwise requires, only refers to such Synthetic Letter of Credit Outstandings that have become part of the Roll-Up Loans.
Sample 1

Examples of Synthetic Letter of Credit Outstandings 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.

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

  • Without limiting the generality of the foregoing, each party hereto acknowledges and agrees that the amount on deposit at any time in the Synthetic L/C Deposit Account shall constitute “Collateral” under the Loan Documents and shall be available, subject to the terms of the Loan Documents, to satisfy any Obligation of any Loan Party under the Loan Documents to the extent that such amount exceeds the Synthetic Letter of Credit Outstandings.

  • The Synthetic Letter of Credit Issuer shall not be permitted or required to issue any Synthetic Letter of Credit if, after giving effect thereto, (i) the aggregate amount of all Synthetic Letter of Credit Outstandings would exceed the Synthetic Facility Available Amount or (ii) the sum of the aggregate amount of all Synthetic Letter of Credit Outstandings would exceed the amount on deposit in the Synthetic Deposit Account.

  • The Borrower agrees to pay, to the Roll-Up Lenders who roll up any Revolving Letter of Credit Outstandings and Synthetic Letter of Credit Outstandings hereunder, such fees as were applicable to such Revolving Letter of Credit Outstandings and Synthetic Letter of Credit Outstandings under the Prepetition Credit Agreement, with, for the purposes of clarity, the “Applicable Margin” and the “Participation Fees” (each, as defined in the Prepetition Credit Agreement) being equal to 8.50%.

  • All such fees shall be payable by the Borrower in kind by capitalizing all such fees and adding them to the Revolving Letter of Credit Outstandings or Synthetic Letter of Credit Outstandings, as applicable, for the purpose of accruing further fees prior to the Maturity Date.


More Definitions of Synthetic Letter of Credit Outstandings

Synthetic Letter of Credit Outstandings means, at any time of determination, the sum of (a) the aggregate Stated Amount of all issued and outstanding Synthetic Letters of Credit at such time plus (b) all outstanding Disbursements made or deemed made in respect of Synthetic Letters of Credit other than any such Disbursements that have been reimbursed or Cash Collateralized by the Cayman Borrower or deemed to be a Synthetic Revolving Loans pursuant to Section 2.5.2(c) or as to which a Synthetic Revolving Loan has been made in accordance with Section 2.5.4(c) at such time.
Sample 1

Related to Synthetic Letter of Credit Outstandings

  • 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.

  • 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.

  • Revolving Credit Outstandings means, at any particular time, the sum of (a) the principal amount of the Revolving Loans outstanding at such time, (b) the Letter of Credit Obligations outstanding at such time and (c) the principal amount of the Swing Loans outstanding at such time.

  • 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.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • 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.

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

  • 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.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank'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.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit.

  • 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 Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • 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.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

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

  • 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.

  • Letter of Credit Sublimit means an amount equal to the lesser of (a) the Aggregate Revolving Commitments and (b) $25,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.

  • LC Outstandings means, on any date of determination, the sum of the undrawn stated amounts of all Letters of Credit that are outstanding on such date plus the aggregate principal amount of all unpaid reimbursement obligations of the Borrower on such date with respect to payments made by the LC Issuing Banks under Letters of Credit. The LC Outstandings with respect to any Lender shall equal such Lender’s Percentage of the sum in the immediately preceding sentence.

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • Aggregate Outstanding Credit Exposure means, at any time, the aggregate of the Outstanding Credit Exposure of all the Lenders.

  • Revolving Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Loans and its LC Exposure at such time.