Third Party Letters of Credit definition

Third Party Letters of Credit means: any letter of credit (other than any Letter of Credit) issued by any Person to support obligations of any of the Obligors in a jurisdiction other than the United Kingdom and the United States if the prospective beneficiary thereof requests the issuance of a letter of credit other than a Letter of Credit.
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Third Party Letters of Credit means letters of credit described in Section 7.03(c)(xi).
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Third Party Letters of Credit letters of credit issued under the Existing Credit Facility and set forth on Schedule 1.1(b) hereto (the “Existing Letters of Credit”) and letters of credit issued for the account of the Borrower or any of its Included Subsidiary after the Closing Date.
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Examples of Third Party Letters of Credit in a sentence

  • Letters of Credit may be issued as Intercompany Letters of Credit or Third Party Letters of Credit, subject to the terms and conditions of this Agreement.

  • The indebtedness from time to time outstanding hereunder (including Letters of Credit issued but undrawn) together with Existing Senior Indebtedness and Permitted Third Party Letters of Credit.

  • The Borrowers will not at any time permit the sum of (i) the outstanding principal balance of the Loans, PLUS (ii) fifty percent (50%) of the undrawn amount of Letters of Credit supporting unfunded Project Costs, PLUS (iii) fifty percent (50%) of the undrawn amount of Third Party Letters of Credit as of the date of determination to be greater than the Borrowing Base as determined as of the same date.

  • Not more than $8.4 million of the proceeds of the Term Loans may at any time be applied to cash collateralize Third Party Letters of Credit permitted under this Agreement and (ii) (x) the amount of such cash collateral shall not exceed 105% of the face amount of any such letter of credit and (y) any such cash collateral which is applied to satisfy obligations under any such letter of credit shall count against and reduce the amount available under clause (i) above.

  • THLPV, at its option, may elect to invest or guarantee (or cause third parties to guarantee) Additional Third Party Letters of Credit more than the Maximum Amount required pursuant to this Section 2.

  • After giving effect to any issuance, amendment, renewal or extension of any Letter of Credit, the sum of the Aggregate Letters of Credit Outstanding and the Aggregate Third Party Letters of Credit Outstanding shall not exceed $15,000,000.

  • Notwithstanding the foregoing, at no time shall the sum of Aggregate Letters of Credit Outstanding exceed an amount equal to (x) $15,000,000, less (y) the Aggregate Third Party Letters of Credit Outstanding, and no Letter of Credit shall be issued if, after giving effect to the same, the Aggregate Outstandings would exceed the Total Commitment.


More Definitions of Third Party Letters of Credit

Third Party Letters of Credit means the letters of credit described in clause (g) of the definition of "Permitted Indebtedness."
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Third Party Letters of Credit means any Standby Letter of Credit issued by a Person (other than the Agent pursuant to the terms of this Agreement) for the account of the Company and which is issued for purposes in connection with and in the ordinary course of business of the Company and consistent with the historical purposes of Standby Letters of Credit issued by The Chase Manhattan Bank for the account of the Company.
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Related to Third Party 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).

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

  • 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.

  • 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.

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

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

  • 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.

  • Revolving Loan Documents means the “Loan Documents” as defined in the Revolving Credit Agreement.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • 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.

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

  • 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 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 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.

  • 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.

  • 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.

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

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • 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.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.