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.
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 reimbursement obligations with respect to all Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to $5,000,000 MINUS the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit PLUS, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.
Examples of Unused Letter of Credit Subfacility in a sentence
If (i) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers in connection with the opening thereof would not exceed the Excess Availability, Agent shall, so long as the other conditions hereof and of Section Six are met, cause the requested Letter of Credit to be issued on such requested effective date of issuance.
Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers pursuant to Section 2.18(c)(i), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date.
More Definitions of Unused Letter of Credit Subfacility
Unused Letter of Credit Subfacility means an amount equal to $30,000,000 minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to
Unused Letter of Credit Subfacility means an amount equal to the lesser of $50,000,000 minus the aggregate maximum undrawn face amount of all outstanding Letters of Credit and the amount of unpaid reimbursement obligations with respect to all Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to (a) $25,000,000 minus (b) the sum of (i) the aggregate undrawn amount of all outstanding Letters of Credit and U.S. Letters of Credit plus, without duplication, (ii) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit and U.S. Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to $50,000,000 (as such amount may be increased from time to time pursuant to Section 1.6) minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.
Unused Letter of Credit Subfacility means, at any time, an amount equal to the Letter of Credit Subfacility at such time minus the sum of (a) the aggregate undrawn amount of all outstanding Canadian Letters of Credit issued under the Canadian LC Accommodation plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Canadian Letters of Credit issued under the Canadian LC Accommodation plus, (c) the aggregate undrawn amount of all outstanding Pro Rata Canadian Letters of Credit issued under the Pro Rata Canadian LC Accommodation plus, without duplication, (d) the aggregate unpaid reimbursement obligations with respect to all Pro Rata Canadian Letters of Credit issued under the Pro Rata Canadian LC Accommodation, plus (e) the aggregate undrawn amount of all outstanding U.S. Letters of Credit plus, without duplication, (f) the aggregate unpaid reimbursement obligations with respect to all U.S. Letters of Credit.
Unused Letter of Credit Subfacility means, in reference to each Borrower, the Unused Letter of Credit Subfacility-Consumer or the Unused Letter of Credit Subfacility-WOC, as applicable.