Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).
Auto-Extension Letter of Credit has the meaning assigned to such term in Section 2.06(c)(B).
Auto-Extension Letter of Credit shall have the meaning provided in Section 3.2(b).
Examples of Auto-Extension Letter of Credit in a sentence
Unless otherwise directed by the relevant Issuing Lender, the Borrower shall not be required to make a specific request to such Issuing Lender for any extension of an Auto-Extension Letter of Credit.
More Definitions of Auto-Extension Letter of Credit
Auto-Extension Letter of Credit. Is defined in Section 2.18(d).
Auto-Extension Letter of Credit has the meaning set forth in Section 1.5(e)(ii).
Auto-Extension Letter of Credit shall permit the applicable Issuing Bank to prevent any such extension at least once in each 12-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such 12-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the applicable Issuing Bank, the Borrower shall not be required to make a specific request to such Issuing Bank for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the applicable Issuing Bank to permit the extension of such Letter of Credit at any time to an expiry date not later than 10 Business Days before the Termination Date; provided, however, that such Issuing Bank shall not permit any such extension if (A) such Issuing Bank has reasonably determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit (as extended) under the terms hereof, or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date from the Agent, any Lender or the Borrower that one or more of the applicable conditions specified in Section 3.04 is not then satisfied, and in each such case directing such Issuing Bank not to permit such extension.
Auto-Extension Letter of Credit means a Letter of Credit that has automatic extension provisions.
Auto-Extension Letter of Credit. See §5.1.2(b).
Auto-Extension Letter of Credit as defined in Section 2.2(c)(iii) (Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit).
Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii). “Availability” means (a) the Maximum Borrowing Amount minus (b)