Canadian Letter of Credit Obligations definition

Canadian Letter of Credit Obligations means all obligations of the Canadian Borrower under this Agreement in connection with the Canadian Letters of Credit.
Canadian Letter of Credit Obligations means all outstanding obligations incurred by Administrative Agent, Lenders and L/C Issuer at the request of Canadian Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Canadian Letters of Credit by the L/C Issuer or the purchase of a participation as set forth in Annex C with respect to any Canadian Letter of Credit. The amount of such Canadian Letter of Credit Obligations shall equal the maximum amount that may be payable by L/C Issuer, Administrative Agent or Lenders thereupon or pursuant thereto.
Canadian Letter of Credit Obligations means, as at any date of determination, the Dollar Equivalent of the aggregate amount available to be drawn under all outstanding Canadian Letters of Credit plus the aggregate Dollar Equivalent of all amounts drawn under the Canadian Letters of Credit, including all Letter of Credit Borrowings arising under Canadian Letters of Credit. For all purposes of this Agreement, if on any date of determination a Canadian Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Canadian Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

Examples of Canadian Letter of Credit Obligations in a sentence

  • For purposes of Canadian Loans and Canadian Letter of Credit Obligations, each use of the term “Commitment” above shall be deemed to refer to the Canadian Commitments.


More Definitions of Canadian Letter of Credit Obligations

Canadian Letter of Credit Obligations means at any time, the sum of (a) the aggregate undrawn amount of all Letters of Credit issued for the account of Canadian Borrowers outstanding at such time, plus (b) without duplication, the aggregate amount of all drawings under Letters of Credit issued for the account of Canadian Borrowers for which the Canadian Issuing Bank has not at such time been reimbursed, plus (c) without duplication, the aggregate amount of all payments made by Canadian Lender to the Canadian Issuing Bank with respect to such Canadian Lender’s participation in Letters of Credit issued for the account of Canadian Borrowers as provided in Section 2.3 for which Canadian Borrowers have not at such time reimbursed the Canadian Lenders, whether by way of a Revolving Loan or otherwise.
Canadian Letter of Credit Obligations means, at any time, the sum of (i) Reimbursement Obligations at such time for Canadian Letters of Credit and (ii) the Dollar Equivalent of the aggregate maximum amount then available for drawing under the outstanding Canadian Letters of Credit.
Canadian Letter of Credit Obligations means at any date of determination, the sum of (a) the aggregate undrawn amount of all Canadian Letters of Credit then outstanding, and (b) the aggregate amount of Canadian Reimbursement Obligations which remain unpaid as of such date.
Canadian Letter of Credit Obligations means, at any time, the sum of (a) the aggregate undrawn amount of all Canadian Letters of Credit outstanding at such time, plus (b) the aggregate amount of all drawings under Canadian Letters of Credit for which the Issuing Bank has not at such time been reimbursed, plus (c) without duplication, the aggregate amount of all payments made by each Lender to the Issuing Bank with respect to such Lender’s participation in Canadian Letters of Credit as provided in Section 2.2 hereof for which the Canadian Borrowers have not at such time reimbursed the Lenders, whether by way of a Loan or otherwise.
Canadian Letter of Credit Obligations has the meaning ascribed thereto in Section 1.2.
Canadian Letter of Credit Obligations means, as at any date of determination, (a) the aggregate undrawn amount of all outstanding Letters of Credit issued on account of a Canadian Loan Party, plus (b) the aggregate of all Canadian Letter of Credit Borrowings with respect to Letters of Credit issued for the account of a Canadian Loan Party, plus (c) the aggregate amount of all Letter of Credit Fees owing with respect to Letters of Credit issued for the account of a Canadian Loan Party.
Canadian Letter of Credit Obligations means, at any time, the sum of the US Dollar Equivalent of (a) the aggregate undrawn amount of all Canadian Letters of Credit outstanding at such time, plus (b) the aggregate amount of all drawings under Canadian Letters of Credit for which Canadian Issuing Bank has not at such time been reimbursed, plus (c) without duplication, the aggregate amount of all payments made by each Lender to Canadian Issuing Bank with respect to such Lender’s participation in Canadian Letters of Credit as provided in Section 2.3 hereof for which Canadian Borrowers or Canadian Guarantors have not at such time reimbursed Lenders, whether by way of a Revolving Loan or otherwise.