US Tranche Letter of Credit definition

US Tranche Letter of Credit means any letter of credit issued under the US Tranche Commitments pursuant to this Agreement.
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US Tranche Letter of Credit means a Letter of Credit denominated in Dollars.
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US Tranche Letter of Credit means a Letter of Credit designated as such by the Company in accordance with Section 2.06.
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Examples of US Tranche Letter of Credit in a sentence

  • Not later than (x) 11:00 a.m. on the date of any payment by the L/C Issuer under a U.S. Tranche Letter of Credit to be reimbursed in Dollars and (y) the Applicable Time on the date of any payment by the L/C Issuer under an Alternative Currency Tranche Letter of Credit to be reimbursed in an Alternative Currency (each such date, an “Honor Date”), the Borrower shall reimburse the L/C Issuer through the Administrative Agent in Dollars or in the applicable Alternative Currency, as the case may be.

  • In the case of a U.S. Tranche Letter of Credit, the Borrower shall reimburse the L/C Issuer through the Administrative Agent in Dollars.

  • Additionally, no Issuing Bank shall be under any obligation to issue or renew any Letter of Credit if the Letter of Credit is to be denominated in a currency other than (A) US Dollars (in the case of a US Tranche Letter of Credit) or (B) US Dollars or Canadian Dollars (in the case of a Canadian Tranche Letter of Credit) unless otherwise agreed by the Issuing Bank and the Administrative Agent.

  • Each Existing Letter of Credit shall expire on its stated expiry date as in effect on the Effective Date and may not be renewed or extended, but may be replaced with the issuance of a new US Tranche Letter of Credit issued by JPMorgan Chase Bank, N.A., as Issuing Bank.

  • Additionally, no Issuing Bank shall be under any obligation to issue or renew any Letter of Credit if the Letter of Credit is to be denominated in a currency other than (A) US Dollars (in the case of a US Tranche Letter of Credit) or (B) an Approved Currency (in the case of a Multicurrency Tranche Letter of Credit).

  • From and after the US Tranche Effective Date, each Existing Letter of Credit, as set forth in Schedule 2.05, shall be deemed to be a US Tranche Letter of Credit for all purposes hereof and shall be deemed to have been issued hereunder on the US Tranche Effective Date.

  • Each U.S. Tranche Letter of Credit shall be issued in U.S. Dollars for the account of a U.S. Borrower.

  • All reporting from each Issuing Bank with respect to any Letter of Credit shall indicate whether each Letter of Credit constitutes a U.S. Tranche Letter of Credit or a European Tranche Letter of Credit.

  • On the Effective Date, each Existing Letter of Credit shall be deemed to be a US Tranche Letter of Credit for all purposes hereof and shall be deemed to have been issued hereunder on the Effective Date.

  • If the applicable Borrowers fail to make such payment when due, the Administrative Agent shall notify each U.S. Tranche Lender (in the case of a U.S. Tranche Letter of Credit), or each European Tranche Lender (in the case of a European Tranche Letter of Credit), in each case of the applicable LC Disbursement, the payment then due from the applicable Borrowers in respect thereof and such Lender’s Applicable Percentage thereof.


More Definitions of US Tranche Letter of Credit

US Tranche Letter of Credit any letter of credit issued pursuant to this Agreement under the US Revolving Credit Facility.
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US Tranche Letter of Credit means any letter of credit issued under the US Tranche Commitments pursuant to thisAgreement.
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US Tranche Letter of Credit means a letter of credit issued under the U.S. Tranche pursuant to Section 2.06 hereof.
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Related to US Tranche Letter of Credit

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Letter of Credit Limit means $5,000,000.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Facility Letter of Credit Fee is defined in Section 2A.8.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).