US Letter of Credit Exposure definition

US Letter of Credit Exposure means, with respect to any Lender, at any time, the sum of (a) the Dollar Equivalent of the amount of any Unpaid Drawings in respect of which such Lender has made (or is required to have made) payments to the US Letter of Credit Issuer pursuant to Section 3.4(a) at such time and (b) such Lender’s Revolving Credit Commitment Percentage of the US Letter of Credit Outstanding at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of which the Lenders have made (or are required to have made) payments to the US Letter of Credit Issuer pursuant to Section 3.4(a)).

US Letter of Credit Exposure means, at the date of its determination by the US Administrative Agent, the aggregate outstanding undrawn amount of US Letters of Credit plus the aggregate unpaid amount of all of the US Borrower’s payment obligations under drawn US Letters of Credit.

US Letter of Credit Exposure means, as of any date of determination with respect to any U.S. Revolving Lender, such U.S. Revolving Lender’s Pro Rata Share of the U.S. Letter of Credit Usage on such date.

Examples of US Letter of Credit Exposure in a sentence

• To the extent that any surplus funds are held in the US Cash Collateral Account above the US Letter of Credit Exposure during the existence of an Event of Default the US Administrative Agent may (A) hold such surplus funds in the US Cash Collateral Account as cash collateral for the Obligations or (B) apply such surplus funds to any Obligations in any manner directed by the Majority Lenders.

• In the event that any US Letter of Credit shall be outstanding or shall be drawn and not reimbursed after the Maturity Date, the US Borrower shall pay to the US Administrative Agent an amount equal to 103% of the US Letter of Credit Exposure allocable to such Letter of Credit to be held in the US Cash Collateral Account and applied in accordance with paragraph (h) below.

• The US Borrower agrees to pay to the US Administrative Agent for the account of each US Lender a US Commitment Fee on the average daily amount by which such Lender’s US Commitment exceeds such Lender’s outstanding US Advances plus such Lender’s Applicable Percentage of the US Letter of Credit Exposure at the rate equal to the Applicable Margin for US Commitment Fees for such period.

• The US Borrower agrees to pay to the US Administrative Agent for the account of each US Revolving Lender a US Revolving Commitment Fee on the average daily amount by which such Lender’s US Revolving Commitment exceeds such Lender’s outstanding US Revolving Advances plus such Lender’s Applicable Percentage of the US Letter of Credit Exposure at the rate equal to the Applicable Margin for US Revolving Commitment Fees for such period.

• The US Borrower agrees to pay to the US Administrative Agent for the account of each US Lender a US Commitment Fee on the average daily amount by which such Lender’s US Commitment exceeds such Lender’s outstanding US Advances plus such Lender’s Applicable Percentage of the US Letter of Credit Exposure at the per annum rate equal to the Applicable Margin for Commitment Fees for such period.

More Definitions of US Letter of Credit Exposure

US Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit issued by a U.S. Issuing Bank at such time for the account of a U.S. Co-Borrower plus (b) the aggregate amount of all LC Disbursements of any U.S. Issuing Bank that have not yet been reimbursed by or on behalf of a U.S. Co-Borrower at such time. The U.S. Letter of Credit Exposure of any Lender at any time shall be its Applicable Percentage of the total U.S. Letter of Credit Exposure at such time.

US Letter of Credit Exposure. Amount shall mean at any time the sum of (i) the aggregate undrawn amount of all US Letters of Credit outstanding at such time plus (ii) the aggregate amount of all US Letter of Credit Advances for which the US Lenders have not been reimbursed and which remain unpaid at such time. US Obligations shall mean all Obligations owing by any US Credit Party to one or more US Lenders or their respective Affiliates. US Revolving Credit Commitment shall mean, as to any US Lender, the obligation of such US Lender to make US Revolving Loans and incur liability for the US Letter of Credit Exposure Amount and the Swingline Loans in an aggregate principal amount at any one time outstanding up to, but not exceeding, the amount set forth as such US Lender’s Revolving Credit Commitment in Schedule 1.1(b) attached hereto (as the same may be reduced from time to time pursuant to Section 2.4 hereof).

US Letter of Credit Exposure means, with respect to any Lender, at any time, the sum of (a) the Dollar Equivalent of the principal amount of any Unpaid Drawings in respect of U.S. Letters of Credit in respect of which such Lender has made (or is required to have made) payments to the U.S. Letter of Credit Issuer pursuant to Section 3.4(a) at such time and (b) such Lender’s U.S. Revolving Credit Commitment Percentage of the U.S. Letter of Credit Outstandings at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of U.S. Letters of Credit in respect of which the Lenders have made (or are required to have made) payments to the U.S. Letter of Credit Issuer pursuant to Section 3.4(a)).

US Letter of Credit Exposure means, at any time, without duplication and subject to the U.S. Letter of Credit Sub-Line, the aggregate face amount of all outstanding Letters of Credit under the U.S. Revolving Facility at such time. Any U.S. Letter of Credit Exposure denominated in U.S. Dollars shall be the Cdn.$ Equivalent thereof.

US Letter of Credit Exposure means the sum of (a) the aggregate undrawn face amount of all issued and outstanding U.S. Letters of Credit, and (b) the aggregate draws made on U.S. Letters of Credit that are not yet reimbursed by U.S. Borrower or converted to U.S. Revolving Loans pursuant to subsection 4 of Section 2.1A hereof.

US Letter of Credit Exposure means, as of any date of determination with respect to any Lender, such Xxxxxx's participation in the US Letter of Credit Usage pursuant to Section 2.11A(e) on such date.

US Letter of Credit Exposure means, as of any date of determination with respect to any US Lender, such US Lender’s Pro Rata Share of the US Letter of Credit Usage on such date.