Tranche 1 Letter of Credit definition

Tranche 1 Letter of Credit means each Letter of Credit which is issued prior to the first Special Expiration Date, but shall not include any such Letter of Credit as to which the L/C Termination Date has been extended to a date after the L/C Termination Date which was in effect on such first Special Expiration Date.
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Tranche 1 Letter of Credit shall have the meaning provided in Section 2A.01(a).
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Tranche 1 Letter of Credit. Tranche 1 Letter of Credit Participating Xxxxxxxx", "Xxxxxxx 0 Xxxx", "Xxxxxxx 0 Letter of Credit", "Tranche 2 Letter of Credit Participating Interest", "Tranche 2 Letter of Credit Participating Interest Commitment", "Tranche 2 Letter of Credit Participating Interest Committed Amount", "Tranche 2 Letter of Credit Participating Interest Commitment Percentage", "Tranche 3 Letter of Credit", "Tranche 4 Letter of Credit" and "Tranche X" shall have the respective meanings assigned to those terms in Section 2.15 hereof.
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Examples of Tranche 1 Letter of Credit in a sentence

  • Each Tranche 1 Lender represents and warrants that each Tranche 1 Letter of Credit constitutes a legal, valid and binding obligation of such Tranche 1 Lender enforceable in accordance with its terms.

  • Each Tranche 1 Letter of Credit Request shall include any other documents as the Issuing Agent customarily requires in connection therewith.

  • The Stated Amount of each Tranche 1 Letter of Credit shall not be less than $100,000.

  • No later than the tenth Business Day of each month, a Borrowing Base Certificate from each Designated Subsidiary Borrower for whose account a Tranche 1 Letter of Credit has been issued as of the last day of the immediately preceding month, executed by an Authorized Officer of such Designated Subsidiary Borrower.

  • Each Tranche 1 Letter of Credit Request shall include any other documents as the Issuing Agent or the relevant Issuing Lender, as the case may be, customarily requires in connection therewith.

  • As soon as possible following the Effective Date, each Existing Tranche 1 Letter of Credit shall be amended to replace each Original Lender on such Existing Tranche 1 Letter of Credit with each Tranche 1 Lender party to this Agreement on the Effective Date in accordance with each such Tranche 1 Lender’s Tranche 1 Percentage.

  • The Issuing Agent or the relevant Issuing Lender, as the case may be, will give a Notice of Non-Extension as to any outstanding Tranche 1 Letter of Credit if requested to do so by the Required Lenders pursuant to Section 9.

  • Each Existing Tranche 1 Letter of Credit shall be deemed to be a Tranche 1 Letter of Credit hereunder.

  • Each Tranche 1 Letter of Credit issued on a secured basis shall at all times remain secured by Collateral so long as such Letter of Credit remains outstanding.

  • Notwithstanding anything to the contrary, no Lender nor the Issuing Agent shall be required to make any Tranche 1 Revolving Loan or issue any Tranche 1 Letter of Credit to a Borrower whose Borrowing Base immediately upon giving effect to such Credit Event would be less than 100% of the Secured Obligations of such Grantor as confirmed by the Custodian and the Collateral Agent to the Administrative Agent immediately prior to such Credit Event.


More Definitions of Tranche 1 Letter of Credit

Tranche 1 Letter of Credit has the meaning provided in Section 3A.01(a).
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Tranche 1 Letter of Credit on the Restatement Effective Date. As soon as possible following the Restatement Effective Date, each Existing Tranche 1 Several Letter of Credit shall be amended to replace each Existing Lender with each Tranche 1 Lender party to this Agreement at the time of such amendment in accordance with each such Tranche 1 Lender’s Tranche 1 Percentage. Until an Existing Tranche 1 Several Letter of Credit has been amended in accordance with this Section 3A.12, each Existing Lender shall be deemed to have sold and transferred to each Tranche 1 Lender, and each such Tranche 1 Lender shall be deemed irrevocably and unconditionally to have purchased and received from such Existing Lender, without recourse or warranty, an undivided interest and participation, to the extent of such Tranche 1 Lender’s Tranche 1 Percentage, in such Existing Tranche 1 Several Letter of Credit, each substitute Existing Tranche 1 Several Letter of Credit, each drawing made thereunder, the obligations of the respective Designated Subsidiary Borrower under this Agreement with respect thereto and any security therefore or guaranty pertaining
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Tranche 1 Letter of Credit means any Letter of Credit designated as a "Tranche 1 Letter of Credit" by the applicable Borrower pursuant to Section 2.01(a) or (d).
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Tranche 1 Letter of Credit means any letter of credit issued pursuant to this Agreement on behalf of Lenders holding Tranche 1 Revolving Commitments.
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Related to Tranche 1 Letter 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.

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

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

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

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

  • 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.

  • 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 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 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.

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

  • 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.

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

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

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

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

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

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

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • 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 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 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.

  • 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 Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.