LC Commitment Percentage means, with respect to each Lender, the percentage which the then existing Commitment of such Lender is of the Commitments of all Lenders; provided, however, that when used with respect to Letters of Credit which expire after the Termination Date has occurred, the LC Commitment Percentage of each Lender shall be the percentage, immediately prior to the Termination Date, that such Lender’s Commitment is of the Commitments of all Lenders.
LC Commitment Percentage means, with respect to a Bank, the ratio, expressed as a percentage, of (a) the amount of such Bank's Commitment to (b) the aggregate amount of the Commitments of all Banks hereunder; provided, however, that if at the time of determination the Commitments have terminated or been reduced to zero, the "LC Commitment Percentage" of each Bank shall be the LC Commitment Percentage of such Bank in effect immediately prior to such termination or reduction.
LC Commitment Percentage means, with respect to each LC Lender, the percentage of which the then existing LC Commitment of such LC Lender is of the LC Commitments of all LC Lenders; provided, however, that with respect to Letters of Credit which expire after the LC Termination Date has occurred, the LC Commitment Percentage of each LC Lender shall be the percentage of which such LC Lender's LC Commitment immediately prior to the LC Termination Date is of the LC Commitment of all LC Lenders immediately prior to the LC Termination Date.
Examples of LC Commitment Percentage in a sentence
Immediately upon the issuance of the WTC Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Issuer a participation in such WTC Letter of Credit and each drawing thereunder in an amount equal to such Lender’s L/C Commitment Percentage of the Maximum Undrawn Amount of such WTC Letter of Credit (as in effect from time to time) and the amount of such drawing, respectively.
More Definitions of LC Commitment Percentage
LC Commitment Percentage means, with respect to each LC Lender, the ------------------------ percentage which the then existing LC Commitment of such LC Lender is of the LC Commitments of all LC Lenders; provided, however, that with respect -------- ------- to Letters of Credit which expire after the LC Termination Date has occurred, the LC Commitment Percentage of each LC Lender shall be the percentage which such LC Lender's LC Commitment immediately prior to the LC Termination Date is of the LC Commitment of all LC Lenders immediately prior to the LC Termination Date.
LC Commitment Percentage means, with respect to each Lender, the percentage which the then existing Commitment of such Lender is of the Commitments of all Lenders; provided, however, that when used with respect to Letters of Credit which expire after the Termination Date has occurred, the LC Commitment Percentage of each Lender shall be the percentage, immediately prior to the Termination Date, that such Lender’s Commitment is of the Commitments of all Lenders. “Lenders” means, collectively, the Persons listed on Schedule 2.01, to the extent applicable, each Assuming Lender that shall become a party hereto pursuant to Section 2.19 or 2.20 and each Eligible Assignee that shall become a party hereto pursuant to Section 9.07. 12 “Letter of Credit” means a letter of credit issued for the account of the Borrower and on behalf of Borrower and/or one or more of its subsidiaries, as provided in Article III. “Letter of Credit Exposure” means, as to any Lender at any time, such Lender’s LC Commitment Percentage of the Letter of Credit Liability at such time. “Letter of Credit Liability” means, as of any date of determination, all then existing liabilities of the Borrower to the Issuing Banks in respect of the Letters of Credit, whether such liability is contingent or fixed, and shall, in each case, consist of the sum of (i) the aggregate maximum amount (the determination of such maximum amount to assume compliance with all conditions for drawing) then available to be drawn under such Letters of Credit (including without limitation, amounts available under such Letters of Credit for which a draft has been presented but not yet honored) and (ii) the aggregate amount which has then been paid by and not been reimbursed to the Issuing Banks under such Letters of Credit. For the purposes of determining the Letter of Credit Liability, the face amount of Letters of Credit outstanding in any Committed Currency shall be expressed as the Equivalent in Dollars of such Committed Currency. “Lien” means any lien, security interest or other charge or encumbrance of any kind, or any other type of preferential arrangement which has the same effect as a lien or security interest. “Majority Lenders” means, at any time, Lenders owed at least a majority in interest of the aggregate unpaid principal amount of the Advances owing to the Lenders at such time, or, if no such principal amount is outstanding at such time, Lenders having at least a majority in interest of the Commitments at such time; provided, however,...
LC Commitment Percentage means, for any Lender, a fraction, expressed as a percentage, the numerator of which is such Lender’s L/C Commitment and the denominator of which is the aggregate L/C Commitments of all the Lenders.
LC Commitment Percentage means, with respect to any Issuing Bank, the percentage of the total LC Commitments of all Issuing Banks represented by such Issuing Bank’s LC Commitment.
LC Commitment Percentage. With respect to each Bank, the percentage set forth on SCHEDULE 1 hereto as such Bank's percentage of the aggregate LC Commitments of all the Banks. LETTER OF CREDIT. Any of the Revolver Letters of Credit and/or the Stand Alone Letters of Credit.
LC Commitment Percentage means, for each Lender, the percentage identified as its LC Commitment Percentage on Schedule 2.01, as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 10.04(b) hereof.
LC Commitment Percentage means 50% of the unfunded amount under a Letter of Credit.