Underlying Letter of Credit definition

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

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

Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer. "United States" means the United States of America.

Examples of Underlying Letter of Credit in a sentence

• Each Letter of Credit (and corresponding Underlying Letter of Credit) shall be in form and substance acceptable to the Issuing Lender (in the exercise of its Permitted Discretion), including the requirement that the amounts payable thereunder must be payable in Dollars.

• If requested by the Issuing Lender, Borrowers also shall be an applicant under the application with respect to any Underlying Letter of Credit that is to be the subject of an L/C Undertaking.

• If requested by the Issuing Lender, Borrower also shall be an applicant under the application with respect to any Underlying Letter of Credit that is to be the subject of an L/C Undertaking.

• Each Letter of Credit (and corresponding Underlying Letter of Credit) shall have an expiry date no later than 30 days prior to the Maturity Date and all such Letters of Credit (and corresponding Underlying Letter of Credit) shall be in form and substance acceptable to the Issuing Lender (in the exercise of its Permitted Discretion), including the requirement that the amounts payable thereunder must be payable in Dollars.

• Each Letter of Credit (and corresponding Underlying Letter of Credit) shall be in form and substance acceptable to Lender (in the exercise of its Permitted Discretion), including the requirement that the amounts payable thereunder must be payable in Dollars.

More Definitions of Underlying Letter of Credit

Underlying Letter of Credit a letter of credit (as that term is defined in the UCC) that has been issued by an Underlying Issuer. Underlying Letters of Credit do not constitute Letters of Credit hereunder.

Underlying Letter of Credit means a U.S. Letter of Credit and/or a Canadian Letter of Credit, as the context requires.

Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer. "Voidable Transfer" has the meaning set forth in Section 16.8.

Underlying Letter of Credit has the meaning given such term in Section 2.11(r).

Underlying Letter of Credit means a Tranche A Underlying Letter of Credit or a Tranche Sub-B Underlying Letter of Credit, as the context requires.

Underlying Letter of Credit means a Letter of Credit that has been issued by an Underlying Issuer. “Unfunded Capital Expenditures” means, as to the Borrower or any Subsidiary, without duplication, a Capital Expenditure funded (a) from such Person’s internally generated cash flow or (b) with the proceeds of a Loan. “Unintentional Overadvance” means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Secured Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base, increase in Reserves or misrepresentation by the Loan Parties. “United States” and “U.S.” mean the United States of America. “Unreimbursed Amount” has the meaning specified in Section 2.03(f). “Unsecured Notes” means, collectively, (x) those certain 8.125% Senior Notes due 2026 issued by the Borrower under the Unsecured Notes Indenture, in an aggregate principal amount of $193,034,475 as of the Closing Date, (y) those certain 6.50% Senior Notes due 2026 issued by the Borrower under the Unsecured Notes Indenture, in an aggregate principal amount of $151,440,250 as of the Closing Date, and (z) any additional unsecured Senior Notes issued under the Unsecured Notes Indenture by the Borrower made in accordance with the terms hereof. “Unsecured Notes Documents” means, collectively, the Unsecured Notes, the Unsecured Notes Indenture, and all agreements, contracts, instruments, and documents executed in connection therewith, in each case as such agreement, contract, instrument, or document may be amended, modified, supplemented, renewed, restated or replaced from time to time in accordance with the terms hereof.

Underlying Letter of Credit has the meaning ascribed to it in the First Lien Credit Agreement as in effect on the date hereof.