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 3 contracts
Sources: Master Agreement for Issuance of Payment Instruments (Greenlight Capital Re, Ltd.), Master Agreement for Issuance of Payment Instruments (Hamilton Insurance Group, Ltd.), Master Agreement for Issuance of Payment Instruments (Renaissancere Holdings LTD)