Examples of LC Participant in a sentence
If the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each L/C Participant of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such L/C Participant’s share thereof pursuant to the terms of the Existing First Lien Credit Agreement.
The Borrower shall pay to the Administrative Agent for the account of each L/C Participant in accordance with its Pro Rata Share (as defined in the Existing First Lien Credit Agreement) a Letter of Credit fee for each Letter of Credit issued pursuant to this Agreement equal to the product of (i) Applicable Rate for Letter of Credit fees and (ii) the daily maximum amount then available to be drawn under such Letter of Credit.
LC Participant Training Agreement August 2023 Page 1 of 5 Component 3: Provide CPP to children under age 6 who have experienced at least one traumatic event.
The Issuing Bank shall not at any time be obligated to issue any Letter of Credit hereunder if such issuance would conflict with, or cause the Issuing Bank or any L/C Participant to exceed any limits imposed by, any Applicable Law.
The Borrower agrees that any action taken or omitted by the Issuing Bank or the Administrative Agent under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful misconduct, shall be binding on the Borrower and shall not result in any liability of the Issuing Bank, the Administrative Agent or any L/C Participant to the Borrower.