L/C Participation shall have the meaning provided in Section 3.3(a).
L/C Participation shall have the meaning provided in Section 2A.04(a).
L/C Participation means a US L/C Participation or a Cdn L/C Participation.
Examples of L/C Participation in a sentence
All LC Participation Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
Accrued LC Participation Fees shall be payable in arrears (A) on the last Business Day of March, June, September and December of each year, commencing on the first such date to occur after the Closing Date, and (B) on the date on which all of the Revolving Commitments terminate.
All calculations of the L/C Participation Percentages shall be made from time to time by the Administrative Agent, which calculations shall be conclusive absent manifest error.
Refunding of Swingline Loans; Reallocation of Swingline Commitment and Euro Swingline Commitment 34 2.6. L/C Commitment 37 2.7. Procedure for Issuance of Letters of Credit 38 2.8. L/C Participation 40 2.8A.
On the date that any New Lender becomes a party to this Agreement or an existing Lender increases its L/C Commitment, in each case in accordance with Section 2.18, L/C Participation Interests in all outstanding Letters of Credit held by each of the Lenders (including any New Lender) shall automatically be reallocated to reflect the Lenders’ L/C Commitment Percentages at such time.
More Definitions of L/C Participation
L/C Participation shall have the meaning ascribed to that term in SECTION 3.4. "L/C PARTICIPATION FUNDING AMOUNT" shall have the meaning ascribed to that term in SECTION 3.6(b)(i)(A). "L/C PARTICIPATION FUNDING DATE" shall have the meaning ascribed to that term in SECTION 3.6(b)(ii). "L/C PARTICIPATION FUNDING NOTICE" shall have the meaning ascribed to that term in SECTION 3.6(b)(i)(A).
L/C Participation means, as to any Lender at any time, with respect to all Letters of Credit, the product of the L/C Obligations and such Lender’s Commitment Percentage and, with respect to any particular Letter of Credit, the product of the L/C Obligations applicable solely to that particular Letter of Credit and such Lender’s Commitment Percentage.
L/C Participation shall have the meaning provided in Section 3.3(a). “Lead Arranger” shall mean Scotia Capital.
L/C Participation shall have the meaning provided in Section 3.3(a). “Lender” and “Lenders” shall have the meanings provided in the preamble to this Agreement. “Lender Financials” shall have the meaning provided in Section 1.8. “Lender Insolvency Event” means (a) a Lender becoming insolvent or becoming the subject of a bankruptcy or insolvency proceeding or (b) an event of the kind referred to in Section 11.5 occurs with respect to such Lender or its Parent Company (as if the references in such provisions to the Borrower or Specified Subsidiary referred to such Lender or Parent Company); provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a governmental authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such governmental authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. “Lending Office” means, with respect to any Revolving Credit Lender, the office of such Lender (or an Affiliate of such Lender) specified as its “Lending Office” on Schedule 1.1(d) or, as to any Person that becomes a Revolving Credit Lender after the Closing Date, in the Assignment and Assumption executed by such Person, or such other office of such Lender (or an Affiliate of such Lender) as such Lender may hereafter designate from time to time as its “Lending Office” by notice to the Borrower and the Administrative Agent. -29- “Letter of Credit” shall have the meaning provided in Section 3.1; provided that, only standby Letters of Credit shall be treated as “Letters of Credit” for purposes of the obligation of the Barclays Letter of Credit Issuer or the Xxxxxxx Sachs Letter of Credit Issuer to issue Letters of Credit under this Agreement. “Letter of Credit Commitment” shall mean $50,000,000, as the same may be reduced from time to time pursuant to Section 3.1; provided, that no Barclays Letter of Credit Issuer, Credit Suisse Letter of Credit Issuer, Xxxxxxx Xxxxx Letter of Credit Issuer, JPM Letter of Credit Issuer, Citi Letter of Credit Issuer or BMO Letter of Credit Issuer] shall have an obligation to issue a Letter of Credit if the Stated Amount of such Letter of Credit, when added to the...
L/C Participation shall have the meaning provided in Section 3.3(a). “Lender” shall have the meaning provided in the preamble to this Agreement. Unless the context otherwise requires, the term “Lenders” includes the Swingline Lenders.
L/C Participation means with respect to any Lender, such Lender’s obligations to participate in Existing Letters of Credit pursuant to Section 2.12(f) in the amount and percentage set forth opposite its name on Annex II (and represents such Lender’s pro rata share of the Aggregate L/C Participation) or as later set forth on an Assignment Agreement pursuant to Section 10.10 , or on an updated Annex II, as it may be reduced from time to time as expressly provided pursuant to this Agreement (including Section 2.2 ).
L/C Participation has the meaning given to it in Section 3.3(10)(a). (136) “L/C Sublimit” means $30,000,000. (137) “Lease Adjusted Funded Debt” means, at any time, for Master Borrower on a consolidated basis and without duplication, all Funded Debt plus six times rental or lease expense. Notwithstanding the foregoing, with respect to any Permitted Acquisition, rent or lease expense shall include normalized rent or lease expense of the Person being acquired or whose assets are being acquired, as if such acquisition was made at the beginning of the 12-month period prior to such Permitted Acquisition solely with respect to the calculation of Lease Adjusted Funded Debt and with respect to each business which has ceased to be owned or operated, directly or indirectly, by an Obligor (whether by way of disposition of Equity Interests or all or substantially all of the assets of a business as a going concern or discontinuance of operations) in the immediately preceding 12-month period, exclude, without duplication, rental or lease expense of such business as if it had ceased to be owned or operated for the previous full four (4) Fiscal Quarters. (138) “Leased Property” has the meaning given to it in Section 9.1(9). (139) “Leased Unit” means New Leased Units and Used Leased Units. (140) “Lenders” mean all of the banks and other financial institutions named on the signature pages of this Agreement, and their permitted successors and assigns, and “Lender” means any one of them, and for greater certainty, includes BNS in its capacity as L/C Issuer. (141) “Letter of Credit” and “L/C” each means a letter of credit issued by the L/C Issuer at the request and for the account of the applicable Borrower and includes a Letter of Guarantee. (142) “Letter of Guarantee” means a letter of guarantee issued by the L/C Issuer at the request and for the account of the applicable Borrower for the purpose of providing security to a Person that such Borrower will perform a contractual obligation owed by such Borrower to that Person. (143) “Leverage Ratio” means with respect to Master Borrower and with respect to any Rolling Period, the ratio of Lease Adjusted Funded Debt to EBITDAR. (144) “Lien” means any mortgage, charge, lien, hypothec or encumbrance, whether fixed or floating on, or any security interest in, any property, whether real, personal or mixed, tangible or intangible, any pledge or hypothecation of any property, any conditional sale agreement, other title retention agreement, Capital Lease ...