Facility Limit. (a) The Bank may opt not to issue a Payment Instrument if Total Outstandings (calculated as if that Payment Instrument had been issued) would exceed the Facility Limit on the proposed Issue Date.
Appears in 2 contracts
Sources: Master Agreement for Issuance of Payment Instruments (Greenlight Capital Re, Ltd.), Master Agreement for Issuance of Payment Instruments (Renaissancere Holdings LTD)