Tranche B Letter of Credit definition

Tranche B Letter of Credit means any Letter of Credit issued under the Tranche B Commitment.

Tranche B Letter of Credit means any Letter of Credit issued under the Tranche B Commitment. Unencumbered Asset Reserve Requirement is defined in Section 6.2.

Tranche B Letter of Credit means a letter of credit that is issued by a Fronting Bank pursuant to a Request for Issuance specifying that such letter of credit is to use the Tranche B Commitments, as such letter of credit may from time to time be amended, modified or extended in accordance with the terms of this Agreement.

Examples of Tranche B Letter of Credit in a sentence

• In the case of any such notice requesting the issuance of a Letter of Credit, such notice also shall specify whether such Letter of Credit is to be a Tranche A Letter of Credit or a Tranche B Letter of Credit.

• In cases of a term Tranche B Letter of Credit, the Borrower shall pay an engagement fee in an amount and in the currency to be specified by the relevant Tranche B Lender in accordance with its normal banking practice and such payment shall be due and payable by the Borrower within the period to be specified by that Tranche B Lender.

• The Tranche B Letter of Credit shall be issued pursuant to a Letter of Credit Application given by the Borrower Representative (by facsimile) not later than 11:00 a.m. (Dallas, Texas time) on the Closing Date.

• The Borrowers shall use the Tranche B Letter of Credit in lieu of the performance bond obligations required under Section 6.20 of the Forest Merger Agreement.

• Subject to the provisions of this Agreement, the Borrower may, on Business Days during the Availability Period relating to the Tranche B Facilities, make a request for an Issue of a Tranche B Letter of Credit by delivering to a Tranche B Lender not less than 3 (three) Business Days prior to the proposed Issue Date a duly completed request (which shall be irrevocable) in the form to be specified by such Tranche B Lender.

More Definitions of Tranche B Letter of Credit

Tranche B Letter of Credit as defined in subsection 8.1(c).

Tranche B Letter of Credit in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “Tranche B Letter of Credit” means each Letter of Credit that either (i) was issued prior to the Tranche A Availability Period End Date and, together with all previously issued and outstanding Tranche A Letters of Credit, has an aggregate Tranche A LOC Amount at the time of issuance greater than the Tranche A LOC Commitment (provided that the Borrower may by notice to the Issuing Lender elect for a Letter of Credit to be a Tranche B Letter of Credit where the aggregate LOC Amount of all issued and outstanding Tranche A Letters of Credit is greater than $40,000,000, or such other amount as agreed and confirmed in writing by the Issuing Lender in its sole discretion) and is not a Tranche A Letter of Credit, or (ii) was issued or extended on or after the Tranche A Availability Period End Date but prior to the Tranche B Availability Period End Date, or (iii) is a Tranche A Letter of Credit that has been amended to increase the LOC Amount, resulting in all issued and outstanding Tranche A Letters of Credit having an aggregate LOC Amount that is greater than the Tranche A LOC Commitment, in which case such Tranche A Letter of Credit shall be re-designated as a Tranche B Letter of Credit. (j) The definition of “Tranche B LOC Commitment” in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “Tranche B LOC Commitment” is equal to $40,000,000. (k) Section 2.01(a)(i) is hereby deleted and replaced in its entirety to read as follows: (i)

Tranche B Letter of Credit means any Letter of Credit issued under the -------------------- Tranche B Commitment. Unencumbered Asset Reserve Requirement is defined in Section 6.2. ------------------- ------------ ----------- Unencumbered Assets means Investment Grade Assets of the Borrower which ------------------- are not subject to any Liens.

Tranche B Letter of Credit means a Letter of Credit issued -------------------------- under Section 3.6. -----------

Tranche B Letter of Credit. (viii) “Tranche B LOC Amount“; (ix) “Tranche B LOC Commitment”; and (x) “Tranche B LOC Exposure”. (j) Section 2.01 (Letters of Credit Facility) is hereby amended by deleting Section 2.01(a)(i)(Letters of Credit) in its entirety and inserting in its place the following: (i)

Tranche B Letter of Credit means any standby letter of credit issued at the request of the Borrower and for the account of the Borrower against the Revolving Credit Tranche B Commitment in accordance with SECTION 2.4.

Tranche B Letter of Credit means each Documentary Letter of Credit and Standby Letter of Credit issued by any Tranche B Issuing Bank pursuant to this Agreement.