Aggregate L/C Limit definition
Aggregate L/C Limit means at and for any time of determination, the greater of (x) the lesser of (i) $100,000,000 and (ii) the Aggregate Commitment at such time or scheduled to be in effect for such time (after giving effect to the scheduled termination of the Commitment of any Declining Lender or any Facility Increase under Section 2.18) and (y) 50% of the Aggregate Commitment at such time or scheduled to be in effect for such time (after giving effect to the scheduled termination of the Commitment of any Declining Lender or any Facility Increase under Section 2.18). The Aggregate L/C Limit is part of, and not in addition to, the Aggregate Commitment.
Aggregate L/C Limit means at and for any time of determination, 100% of the Aggregate Revolving Credit Commitments at such time or scheduled to be in effect for such time (after giving effect to the scheduled termination of the Revolving Credit Commitment of any Revolving Credit Declining Lender or any Facility Increase under Section 2.18). The Aggregate L/C Limit is part of, and not in addition to, the Aggregate Revolving Credit Commitment.
Aggregate L/C Limit means at and for any time of determination, 50% of the Aggregate Revolving Credit Commitments at such time or scheduled to be in effect for such time (after giving effect to the scheduled termination of the Revolving Credit Commitment of any Revolving Credit Declining Lender or any Facility Increase under Section 2.18). The Aggregate L/C Limit is part of, and not in addition to, the Aggregate Revolving Credit Commitment.
Examples of Aggregate L/C Limit in a sentence
If at any time (1) the Total Revolving Credit Exposure of any Lender exceeds its Revolving Credit Commitment at such time, the Borrower shall prepay Revolving Credit Loans and/or Cash Collateralize Letter of Credit Obligations to eliminate such excess; or (2) the Letter of Credit Obligations exceeds the Aggregate L/C Limit at such time, the Borrower shall Cash Collateralize Letter of Credit Obligations to eliminate such excess.
More Definitions of Aggregate L/C Limit
Aggregate L/C Limit means $200,000,000. The Aggregate L/C Limit is part of, and not in addition to, the Aggregate Commitment.