WC Issuing Bank definition

WC Issuing Bank means with respect to any WC Letter of Credit, as of the Closing Date, BTMU (together with its permitted successors and assigns in such capacity), or any Person that becomes a WC Issuing Bank in accordance with Section 2.3(l) (Resignation as Issuing Bank), Section 2.3(m) (Replacement of Issuing Bank), Section 10.6(c)(ii) (WC Issuing Bank and Revolving Lender Assignments), as applicable, together with its permitted successors and assigns in such capacity.
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WC Issuing Bank means PNC Bank and any successor in such capacity as provided in Section 2.06(i).
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WC Issuing Bank means PNC Bank and any successor in such capacity as provided in Section 2.06(i). Additional Lenders may from time to time be designated as "WC Issuing Banks" by the Borrower (with the consent of such Lender and with the consent (which shall not be unreasonably withheld) of the Administrative Agent) by written notice to such effect from the Borrower to the Administrative Agent.
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Examples of WC Issuing Bank in a sentence

  • Interest accrued pursuant to this paragraph shall be for the account of the WC Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the WC Issuing Bank shall be for the account of such Lender to the extent of such payment.

  • Any payment made by a Lender pursuant to this paragraph to reimburse the WC Issuing Bank for any WC LC Disbursement (other than the funding of ABR Revolving Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such WC LC Disbursement.

  • The WC Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced WC Issuing Bank and the successor WC Issuing Bank.

  • The WC Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a WC Letter of Credit.

  • After the replacement of the WC Issuing Bank hereunder, the replaced WC Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of the WC Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional WC Letters of Credit.

  • In consideration and in furtherance of the foregoing, each such Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the WC Issuing Bank, such Lender's Applicable RC Percentage of each WC LC Disbursement made by the WC Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason.

  • Subject to the terms and conditions set forth herein, the Borrower may request that the WC Issuing Bank issue letters of credit for the account of the Borrower, in a form reasonably acceptable to the Administrative Agent and the WC Issuing Bank, at any time and from time to time during the Revolving Credit Availability Period.

  • The Administrative Agent shall notify the Lenders of any such replacement of the WC Issuing Bank.

  • From and after the effective date of any such replacement, (i) the successor WC Issuing Bank shall have all the rights and obligations of the replaced WC Issuing Bank under this Agreement with respect to WC Letters of Credit to be issued thereafter and (ii) references herein to the term "WC Issuing Bank" shall be deemed to include and refer to such successor or to any previous WC Issuing Bank, or to such successor and all previous WC Issuing Banks, as the context shall require.

  • Promptly following receipt of such notice, each such Lender shall pay to the Administrative Agent its Applicable RC Percentage of the payment then due from the Borrower, in the same manner as provided in Section 2.07 with respect to Revolving Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of such Lenders), and the Administrative Agent shall promptly pay to the WC Issuing Bank the amounts so received by it from such Lenders.

Related to WC Issuing Bank

  • LC Issuing Bank means each Lender identified as an “LC Issuing Bank” on Schedule II and any other Lender or Affiliate of a Lender that shall agree to issue a Letter of Credit pursuant to Section 2.04.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Issuing Lenders means all such Persons, collectively.

  • Issuing Banks shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Issuing Lender means, with respect to any Letter of Credit, the Lender which agrees or is otherwise obligated to issue such Letter of Credit, determined as provided in subsection 3.1B(ii).

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Letter of Credit Issuer means such successor or such new issuer of Letters of Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(c) and 4.1(d). The acceptance of any appointment as a Letter of Credit Issuer hereunder whether as a successor issuer or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor issuer of Letters of Credit, in a form satisfactory to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such new or successor issuer of Letters of Credit shall become a “Letter of Credit Issuer” hereunder. After the resignation or replacement of a Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement as Letter of Credit Issuer, the provisions of this Agreement relating to a Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (A) while it was a Letter of Credit Issuer under this Agreement or (B) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • Revolving Administrative Agent means the “Administrative Agent” as defined in the Revolving Credit Facility.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but on behalf of the Lenders hereunder.

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Issuing Bank Fees shall have the meaning assigned to such term in Section 2.12(b).

  • Initial Issuing Bank has the meaning specified in the recital of parties to this Agreement.

  • Administrative Agent as defined in the preamble hereto.

  • Initial Issuing Banks has the meaning specified in the recital of parties to this Agreement.

  • Issuing Bank Agreement has the meaning assigned to such term in Section 2.05(i).

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder.

  • Revolving Lender means a Lender with a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Exposure.

  • Issuing Bank Sublimit means, as of the Effective Date, (i) $2,500,000, in the case of Chase and (ii) in the case of any other Issuing Bank, such amount as shall be designated to the Administrative Agent and the Borrower in writing by such Issuing Bank; provided that any Issuing Bank shall be permitted at any time to increase or reduce its Issuing Bank Sublimit upon providing five (5) days’ prior written notice thereof to the Administrative Agent and the Borrower.

  • Lenders means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

  • Revolving Agent means the collateral agent (or the administrative agent acting as collateral agent) under any Revolving Credit Agreement, and its successors and assigns in such capacity and, from and after the execution of a Revolving Credit Substitute Facility, one or more other agents, collateral agents, trustees or similar contractual representatives for one or more holders of indebtedness or other Obligations evidenced thereunder or governed thereby and its successors and assigns in such capacity, but in no event shall any Obligor or Affiliate thereof be, or appoint, the Revolving Agent.

  • Swing Lender means Xxxxx Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees, in such Lender’s sole discretion, to become the Swing Lender under Section 2.3(b) of the Agreement.

  • Bank Lenders means the lenders from time to time party to the Bank Credit Agreement.