US Letters of Credit definition

US Letters of Credit as defined in Section 3.7(a).

US Letters of Credit has the meaning assigned to such term in Section 2.05(a)(i)(A).

US Letters of Credit means the collective reference to letters of credit denominated in Dollars pursuant to Section 3.1 (including any applicable Existing Letters of Credit). Notwithstanding anything to the contrary contained herein, a letter of credit issued by any Issuing Lender (other than Xxxxx Fargo at any time it is also acting as Administrative Agent) shall not be a “US Letter of Credit” for purposes of the Loan Documents until such time as the Administrative Agent has been notified in writing of the issuance thereof by the applicable Issuing Lender.

Examples of US Letters of Credit in a sentence

• All payments due from the U.S. Borrower hereunder in respect of U.S. Letters of Credit (and U.S. Reimbursement Obligations in connection therewith) shall be made in Dollars.

• U.S. Loans and participations in U.S. Swingline Loans and U.S. Letters of Credit will be funded by each U.S. Lender pro rata in accordance with its Applicable Percentage of the U.S. Commitments.

• Within the foregoing limits, any U.S. Borrower’s ability to obtain U.S. Letters of Credit shall be fully revolving, and accordingly each U.S. Borrower may, during the foregoing period, obtain U.S. Letters of Credit to replace U.S. Letters of Credit that have expired or that have been drawn upon and reimbursed.

• If the Borrowers fail to make such payment when due, the Administrative Agent or the Canadian Administrative Agent, as applicable, shall notify each U.S. Lender of the applicable LC Disbursement with respect to U.S. Letters of Credit and each Canadian Lender of the applicable LC Disbursement with respect of Canadian Letters of Credit, the payment then due from the applicable Borrower in respect thereof and such Lender’s Applicable Percentage thereof.

• U.S. Borrower hereby agrees, in addition to the provisions of Section 9.1 hereof, that upon the occurrence and during the continuance of any Event of Default, it shall, if requested by any Agent or by the Majority Lenders (through any Agent), pay to U.S. Agent an amount in immediately available funds equal to the then aggregate amount available for drawings under all outstanding U.S. Letters of Credit, which funds shall be held by U.S. Agent as Cover.

More Definitions of US Letters of Credit

US Letters of Credit means all Letters of Credit issued for the account of one or more US Borrowers.

US Letters of Credit means the collective reference to letters of credit denominated in Dollars pursuant to Section 3.1 (including any applicable Existing Letters of Credit). Notwithstanding anything to the contrary contained herein, a letter of credit issued by any Issuing Lender (other than Wells Fargo at any time it is also acting as Administrative Agent) shall not be a “US Letter of Credit” for purposes of the Loan Documents until such time as the Administrative Agent has been notified in writing of the issuance thereof by the applicable Issuing Lender.

US Letters of Credit means the letters of credit issued pursuant to this Agreement for the account of the U.S. Borrowers, and the term “U.S. Letter of Credit” means any one of them or each of them singularly, as the context may require.

US Letters of Credit any Letter of Credit issued for the account of the US Borrower by the US Issuing Lender.

US Letters of Credit as defined in Section 2.2.1 hereof.

US Letters of Credit means standby and/or trade letters of credit issued for the account of a US Borrower pursuant to this Agreement.

US Letters of Credit means any standby letters of credit issued by US Issuing Lender at the request of or for the account of the US Borrowers pursuant to Article 3 hereof and shall include Existing Letters of Credit.