U.S. Letter of Credit Usage definition

U.S. Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding US Letters of Credit.
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U.S. Letter of Credit Usage means, as at any date of determination, the sum of (i) the maximum aggregate amount which is, or at any time thereafter may become, available for drawing under all U.S. Letters of Credit then outstanding, and (ii) the aggregate amount of all drawings under U.S. Letters of Credit honored by an Issuing Bank and not theretofore reimbursed by or on behalf of the U.S. Borrower.
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U.S. Letter of Credit Usage means, as at any date of determination, the sum of (i) the Dollar Equivalent of the maximum aggregate amount which is, or at any time thereafter may become, available for drawing under all U.S. Letters of Credit then outstanding, and (ii) the Dollar Equivalent of the aggregate amount of all drawings under U.S. Letters of Credit honored by an Issuing Bank and not theretofore reimbursed by or on behalf of the U.S. Borrower.
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Examples of U.S. Letter of Credit Usage in a sentence

  • Anything contained in this Agreement to the contrary notwithstanding, no Agent shall have any liability arising from confirmations of the amount of outstanding Loans or the Canadian Letter of Credit Usage, the U.S. Letter of Credit Usage, the Australian Letter of Credit Usage, the BA Usage or the component amounts thereof.


More Definitions of U.S. Letter of Credit Usage

U.S. Letter of Credit Usage means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit issued for the account of US Borrowers, plus (b) the aggregate amount of outstanding reimbursement obligations with respect to Letters of Credit issued for the account of US Borrowers which remain unreimbursed or which have not been paid through a US Revolving Loan.
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U.S. Letter of Credit Usage means, at any time, (a) the aggregate ------------------------- undrawn amount at such time of all outstanding Letters of Credit issued for the benefit of the US Borrower (or, as to each US Lender, its participating interest thereof pursuant to Section 3.5(a) hereof), plus (b) the aggregate amount of unreimbursed drawings at such time under Letters of Credit issued for the benefit of the US Borrower.
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U.S. Letter of Credit Usage means, as at any date of determination, the sum of (i) the US Letter of Credit Undrawn Amounts at such time and (ii) the outstanding Reimbursement Obligations with respect to US Letters of Credit at such time.
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U.S. Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit issued at the request of a U.S. Borrower. “U.S. Lender” means each U.S. Floorplan Lender and/or each U.S. Revolver Lender, as the context requires. “U.S. Maximum Credit Amount” means, as of any date of determination, an amount equal to (a) the U.S. Maximum Revolver Amount plus (b) the U.S. Maximum Floorplan Amount at such time. As of the Closing Date, the U.S. Maximum Credit Amount is $430,000,000. “U.S. Maximum Floorplan Amount” means $340,000,000, decreased by the amount of reductions in the U.S. Floorplan Commitments made in accordance with Section 2.4(c) of the Agreement and increased in accordance with Sections 2.14 and 2.15 of the Agreement. “U.S. Maximum Revolver Amount” means $90,000,000, decreased by the amount of reductions in the U.S. Revolver Commitments made in accordance with Section 2.4(c) of the Agreement and increased in accordance with Sections 2.14 and 2.15 of the Agreement. “U.S. Obligations” means, all Obligations of U.S. Borrowers. “U.S. Pro Rata Share” means, as of any date of determination:
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Related to U.S. Letter of Credit Usage

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

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

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.