Adjusted Exposure definition

Adjusted Exposure means, with respect to any Bank, as at any date of determination, the sum (without duplication) of (i) the aggregate principal amount of all outstanding Loans made by such Bank (other than Loans made for the purpose of reimbursing the applicable Issuing Bank for any amount drawn under any Participated Letter of Credit but not yet so applied) plus (ii) such Bank's ---- share based on its Percentage of the maximum aggregate amount which is or at any time thereafter may become available for drawing under all Participated Letters of Credit then outstanding plus (iii) such Bank's share based on its Percentage ---- of the aggregate amount of all payments in respect of drawing under Participated Letters of Credit honored by Issuing Banks and payments of Accepted Time Drafts and not theretofore reimbursed by the Obligors (including any such reimbursements out of the proceeds of Loans pursuant to Section 2.13(b)) plus ---- (iv) the maximum aggregate amount which is or at any time thereafter may become available for drawing under all Non-Participated Letters of Credit issued by such Bank or its Designated Issuer then outstanding plus (v) the aggregate ---- amount of all payments in respect of drawings under all Non-Participated Letters of Credit honored by such Bank or its Designated Issuer and payments of Accepted Time Drafts created under such Non-Participated Letters of Credit issued by such Bank or its Designated Issuer and not theretofore reimbursed by the Obligors.

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Adjusted Exposure means, at any time, (a) the aggregate Exposure at such time minus (b) the amount on deposit in the Designated LC Collateral Account at such time; provided that the amount in this clause (b) shall not exceed the Cash Collateral Cap at such time.

Adjusted Exposure means, with respect to any Purchaser Group or any Purchaser therein, the excess (if any) of such Purchaser Group’s Exposure, over the amount of cash collateral held in the LC Collateral Account for such Purchaser Group.

Examples of Adjusted Exposure in a sentence

This ratable portion shall be calculated on the Financial Institution Termination Date of such Terminating Financial Institution as a percentage (the “Termination Percentage”) equal to (i) Capital of such Terminating Financial Institution outstanding on its Financial Institution Termination Date, divided by (ii) the sum of (x) the Aggregate Capital outstanding on such Financial Institution Termination Date and (y) the LC Adjusted Exposure on such Financial Institution Termination Date.
Seller will not at any time permit the Net Receivables Balance to be less than an amount equal to the sum of (i) the Aggregate Capital, plus (ii) the LC Adjusted Exposure, plus (iii) the Aggregate Reserves.
Seller has determined that, immediately after giving effect to each purchase under the Existing Agreement and each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the LC Adjusted Exposure, plus (iii) the Aggregate Reserves.
The Sellers have determined that, immediately after giving effect to each purchase under the Existing Agreement and each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the LC Adjusted Exposure, plus (iii) the Aggregate Reserves.
The Sellers will not at any time permit the Net Receivables Balance to be less than an amount equal to the sum of (i) the Aggregate Capital, plus (ii) the LC Adjusted Exposure, plus (iii) the Aggregate Reserves.
I-21 such Purchaser’s or Purchaser Group’s (as applicable) outstanding Capital and Pro Rata Share of the LC Adjusted Exposure and (y) each reference to the Purchaser Interest generally or the Purchaser Interest of all Purchasers or Purchaser Groups shall be deemed to mean the Purchaser Interest calculated with respect to the Aggregate Capital and the entire LC Adjusted Exposure.

More Definitions of Adjusted Exposure

Adjusted Exposure means, in respect of a Rebalancing Date, the level of exposure to the relevant Basket that can, in the sole discretion of the Issuer, be achieved by the Hedging Party (after deducting any applicable Hedging Costs) in establishing one or more Hedge Transactions that are intended to generate the Target Exposure on the relevant Rebalancing Date.