Tranche B Letter of Credit definition

Tranche B Letter of Credit means any Letter of Credit issued under the Tranche B Commitment.

Tranche B Letter of Credit means any Letter of Credit issued under the Tranche B Commitment. Unencumbered Asset Reserve Requirement is defined in Section 6.2.

Tranche B Letter of Credit means a letter of credit that is issued by a Fronting Bank pursuant to a Request for Issuance specifying that such letter of credit is to use the Tranche B Commitments, as such letter of credit may from time to time be amended, modified or extended in accordance with the terms of this Agreement.

Examples of Tranche B Letter of Credit in a sentence

• In the case of any such notice requesting the issuance of a Letter of Credit, such notice also shall specify whether such Letter of Credit is to be a Tranche A Letter of Credit or a Tranche B Letter of Credit.

• As of the Tranche A Letter of Credit Expiration Date, each Tranche A Rollover Letter of Credit shall be deemed, for all purposes of this Agreement (including paragraphs (c), (d) and (e) of this Section), to be a Tranche B Letter of Credit issued hereunder.

• The Tranche B Letter of Credit shall be issued pursuant to a Letter of Credit Application given by the Borrower Representative (by facsimile) not later than 11:00 a.m. (Dallas, Texas time) on the Closing Date.

• The aggregate amount of the Tranche B Commitments shall automatically and permanently reduce to $0 immediately after the Tranche B Letter of Credit is issued by the Issuing Lender pursuant to the terms hereof.

• In the event the Issuing Lender makes a payment pursuant to a request for draw presented under the Tranche B Letter of Credit and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and may request that the Tranche B Lenders fund its risk participation in the Tranche B Letter of Credit.

More Definitions of Tranche B Letter of Credit

Tranche B Letter of Credit as defined in subsection 8.1(c).

Tranche B Letter of Credit means any Letter of Credit issued under the -------------------- Tranche B Commitment. Unencumbered Asset Reserve Requirement is defined in Section 6.2. ------------------- ------------ ----------- Unencumbered Assets means Investment Grade Assets of the Borrower which ------------------- are not subject to any Liens.

Tranche B Letter of Credit means any standby letter of credit issued at the request of the Borrower and for the account of the Borrower against the Revolving Credit Tranche B Commitment in accordance with Section 2.4.

Tranche B Letter of Credit means a Letter of Credit as to which the Administrative Agent may apply Tranche B Deposits for purposes of reimbursing Tranche B LC Disbursements in accordance with Section 2.04.

Tranche B Letter of Credit means a letter of credit issued or to be issued by the Tranche B Lenders under the Tranche X X/C Facility; Tranche X X/C Commitment means, in relation to a Tranche B Lender, the principal amount set opposite its name in Schedule 1 (Lenders and Commitments) in respect of the Tranche X X/C Facility or, as applicable, the amount set out in respect of the Tranche X X/C Facility in a Transfer Certificate for a Tranche B Lender, in any case to the extent not transferred, reduced or cancelled in accordance with the provisions hereof; Tranche X X/C Facility or Tranche B Letter of Credit Facility means the letter of credit facility in an aggregate amount up to US$4,000,000 (US$ four million), the terms and conditions of which are set out in this Agreement;

Tranche B Letter of Credit means any Letter of Credit issued against the Total Revolving Tranche B Commitment pursuant to Section 2.20, as permitted hereby.

Tranche B Letter of Credit or "Tranche B Letters of Credit" means letters of credit issued (or deemed issued) by Issuing Lenders pursuant to subsection 3.1A(ii).