Standby Letter of Credit Commitment definition

Standby Letter of Credit Commitment shall have the meaning set forth in Section 3.05 hereof.
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Standby Letter of Credit Commitment means the obligation of the Issuing Lender to issue Standby Letters of Credit on the terms herein described in an aggregate amount up to $25,000,000.
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Standby Letter of Credit Commitment means, with respect to the Issuer, such Issuer’s obligation to issue Standby Letters of Credit pursuant to Section 2.1.3 hereof and, with respect to each Lender, the obligations of each such Lender to participate in such Standby Letters of Credit pursuant to Section 2.6.1 hereof.
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Examples of Standby Letter of Credit Commitment in a sentence

  • Chase may open at Borrower's request Standby Letters of Credit in an aggregate amount not to exceed $750,000.00 (the "Standby Letter of Credit Commitment").

  • Subject to the terms and conditions set forth in this Agreement, upon the written request of a Letter of Credit Party in accordance herewith, the Bank shall issue, at any time during the Revolving Credit Commitment Period for the account of such Letter of Credit Party, (i) Commercial Letters of Credit, in an aggregate amount not to exceed the Commercial Letter of Credit Commitment and (ii) Standby Letters of Credit, in an aggregate amount not to exceed the Standby Letter of Credit Commitment.

  • Chase may open, at Borrower's request, Standby Letters of Credit; provided, that, the aggregate amount of Standby Letters of Credit shall not, at any given time, exceed $1,000,000 (the "Standby Letter of Credit Commitment").

  • No Lender shall be responsible for any default of any other Lender with respect to such other Lender's obligation to make any Loan or Advance hereunder or to fund its purchase of any Participation hereunder nor shall the Tranche A Commitment, Tranche B Commitment, Commercial Letter of Credit Commitment or Standby Letter of Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender.

  • ILFP has paid legal costs of approximately $2.4 million while bearing the risk associated with these proceedings.

  • The Export Loan Commitment and the Standby Letter of Credit Commitment shall each automatically terminate on the Termination Date.

  • Around 10 percent of the world’s total diamonds belong to the gemstones category, which are processed and set in diamond jewelry.

  • Upon satisfaction of the conditions specified in Section 7 of this Agreement and subject to the limitations of the Standby Letter of Credit Commitment, Lender will issue the Standby Letter of Credit requested to be issued on the date specified in the written request; provided, however, that Lender shall not be obligated to issue or permit a Standby Letter of Credit having a term beyond the earlier of (i) one (1) year from the date of its issuance or (ii) April 15, 1997.

  • The aggregate face amount of outstanding Standby Letters of Credit at any time will not exceed the Standby Letter of Credit Commitment.

  • The Standby Letter of Credit Commitment on the Closing Date shall be $20,000,000.


More Definitions of Standby Letter of Credit Commitment

Standby Letter of Credit Commitment means the obligation of the Issuing Lender to issue Standby Letters of Credit on the terms herein described in an aggregate amount up to $35,000,000.
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Standby Letter of Credit Commitment means at any time, for any Lender, the amount set forth opposite such Lender's name on Annex I hereto under the heading "Standby Letter of Credit Commitment," as such amount may be reduced from time to time pursuant to SECTIONS 2.10, 2.11 OR 10.4(c).
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Standby Letter of Credit Commitment means Eight Million Five Hundred Thousand Dollars ($8,500,000).
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Standby Letter of Credit Commitment will mean the Commitment of the Agent on behalf of the Lenders to issue Standby Letters of Credit in the aggregate not exceeding (a) the Available Commitment or (b) $1,000,000.
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Standby Letter of Credit Commitment means, with respect to each Lender, the obligation of such Lender to acquire Participations in respect of Standby Letters of Credit and the related Reimbursement Obligations up to an aggregate amount at any one time outstanding equal to such Lender's Applicable Commitment Percentage of the Total Standby Letter of Credit Commitment as the same may be increased or decreased from time to time pursuant to this Agreement.
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Standby Letter of Credit Commitment means the obligation of the Bank to issue Standby Letters of Credit up to an aggregate face amount for all Standby Letters of Credit at any one time outstanding up to $2,000,000 (as the same shall be reduced and terminated from time to time as provided for by Section 2.04 hereof).
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Related to Standby Letter of Credit Commitment

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

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

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

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

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • 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.

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

  • Unissued Letter of Credit Commitment means, with respect to any Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower or its specified Subsidiaries in an amount equal to the excess of (a) the amount of its Letter of Credit Commitment over (b) the aggregate Available Amount of all Letters of Credit issued by such Issuing Bank.

  • 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 Limit means $5,000,000.

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

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

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

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.

  • 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.

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

  • Letter of Credit Exposure means, with respect to any Lender, at any time, the sum of (a) the Dollar Equivalent amount of the principal amount of any Unpaid Drawings in respect of which such Lender has made (or is required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a) at such time and (b) such Lender’s Revolving Credit Commitment Percentage of the Letters of Credit Outstanding at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of which the Lenders have made (or are required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a)).