US Letter of Credit Commitment definition

US Letter of Credit Commitment means $35,000,000, as the same may be reduced from time to time pursuant to Section 3.1.

US Letter of Credit Commitment means, with respect to each U.S. Issuing Bank, the commitment of such U.S. Issuing Bank to issue U.S. Letters of Credit pursuant to Section 2.05. As of the Amendment and Restatement Effective Date, the amount of each U.S. Issuing Bank’s U.S. Letter of Credit Commitment is set forth on Schedule 2.01.

US Letter of Credit Commitment means the applicable Issuer’s obligation to issue U.S. Letters of Credit pursuant to Section 2.1.2.

Examples of US Letter of Credit Commitment in a sentence

• Issuer shall be permitted or required to issue any U.S. Letter of Credit if, after giving effect thereto, (i) the aggregate amount of all U.S. Letter of Credit Outstandings would exceed the U.S. Letter of Credit Commitment Amount then in effect or (ii) the sum of the aggregate amount of all U.S. Letter of Credit Outstandings plus the aggregate principal amount of all U.S. Revolving Loans and U.S. Swing Line Loans then outstanding would exceed the U.S. Revolving Loan Commitment Amount then in effect.

• All Letters of Credit outstanding under (and as defined in) the Original Credit Agreement on the Amendment Effective Date shall, for all purposes hereof, be deemed to be U.S. Letters of Credit issued, and shall be deemed to constitute a usage of the U.S. Letter of Credit Commitment Amount, hereunder on the Amendment Effective Date.

• Within the limits of the U.S. Letter of Credit Commitment, and subject to the limits referred to above, the U.S. Borrower may request the issuance of U.S. Letters of Credit under this Section 2.1(e)(i), repay any U.S. Letter of Credit Loans resulting from drawings thereunder pursuant to Section 2.2(j) and request the issuance of additional U.S. Letters of Credit under this Section 2.1(e)(i).

• Any such notice may also include the request to increase the US Letter of Credit Commitment with a corresponding reduction of the Canadian Letter of Credit Commitment or to increase the Canadian Letter of Credit Commitment with a corresponding reduction of the US Letter of Credit Commitment.

More Definitions of US Letter of Credit Commitment

US Letter of Credit Commitment means, with respect to each Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account of the Company and its Subsidiaries in (a) the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “US Letter of Credit Commitment” or (b) if such Issuing Bank has entered into one or more Assignment and Acceptances or is a Lender that has become an Issuing Bank after the Effective Date in accordance with the definition of “Issuing Bank”, the amount set forth for such Issuing Bank in the Register maintained by the Agent pursuant to Section 9.08(e) as such Issuing Bank’s “US Letter of Credit Commitment”, in each case as such amount may be reduced prior to such time pursuant to Section 2.05.

US Letter of Credit Commitment means, with respect to each US Issuing Bank, the obligation of such US Issuing Bank to issue Letters of Credit for the account of any Borrower in (a) the amount set forth opposite the US Issuing Bank’s name on Schedule I hereto under the caption “US Letter of Credit Commitment”, or (b) if such Issuing Bank has entered into one or more Assignment and Acceptances, the amount set forth for such US Issuing Bank in the Register maintained by the Agent pursuant to Section 9.07(d) as such US Issuing Bank’s “US Letter of Credit Commitment”, in each case as such amount may be reduced prior to such time pursuant to Section 2.06.

US Letter of Credit Commitment means, as to any L/C Issuer, its commitment to issue US Letters of Credit, and to amend or extend US Letters of Credit previously issued by it, pursuant to Section 2.03, in an aggregate amount at any time outstanding not to exceed (a) in the case of any L/C Issuer party hereto as of the Closing Date, the amount set forth opposite such L/C Issuer’s name on Schedule 2.01 under the heading “US Letter of Credit Commitments” and (b) in the case of any Revolving Lender that becomes a L/C Issuer hereunder thereafter, that amount which shall be set forth in the written agreement by which such Lender shall become an L/C Issuer, in each case as the maximum outstanding amount of US Letters of Credit to be issued by such L/C Issuer, as such commitment may be changed from time to time pursuant to the terms hereof or with the agreement in writing of such Lender, the Borrower Representative and the Administrative Agent.

US Letter of Credit Commitment means a Letter of Credit Commitment in respect of U.S. Letters of Credit.

US Letter of Credit Commitment means $120,000,000, as the same may be reduced from time to time pursuant to Section 3.1.

US Letter of Credit Commitment means, with respect to the U.S. Issuing Bank, an initial amount equal to $30,000,000 or, if the U.S. Issuing Bank has entered into one or more Assignment and Acceptances, set forth for the U.S. Issuing Bank in the Register maintained by the U.S. Administrative Agent pursuant to Section 12.5(c) as the U.S. Issuing Bank's "U.S. Letter of Credit Commitment", as such amount may be reduced from time to time pursuant to Sections 2.7 and 2.8.

US Letter of Credit Commitment means the commitment of the U.S. L/C Issuer to issue Letters of Credit under the U.S. Revolving Credit Facility, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “U.S. Letter of Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.