Available Letter of Credit Commitment definition

Available Letter of Credit Commitment means, at any time, the lesser of (a) (i) $50,000,000, minus (ii) all Letter of Credit Obligations then outstanding, and (b) the Available Revolving Loan Commitment.

Available Letter of Credit Commitment means, at any time, the lesser of (a) (i) $50,000,000.00 minus (ii) all Letter of Credit Obligations then outstanding, and (b) the Available Revolving Loan Commitment then in effect.

Available Letter of Credit Commitment means, in relation to a Bank at any time and save as otherwise provided herein, the lesser of:

Examples of Available Letter of Credit Commitment in a sentence

• Subject to the terms and conditions of this Agreement, the Issuing Bank agrees to issue Letters of Credit for the account of the Borrower (for itself and on behalf of its Restricted Subsidiaries) pursuant to Section 2.13; provided that no Letter of Credit shall be issued in an amount exceeding the Available Letter of Credit Commitment determined immediately prior to giving effect to the issuance thereof.

• Subject to the terms and conditions of this Agreement, the Issuing Bank agrees to issue Letters of Credit for the account of the Borrower (for itself and on behalf of its Subsidiaries) pursuant to Section 2.14 hereof in an aggregate amount not to exceed the Available Letter of Credit Commitment determined immediately prior to giving effect to the issuance thereof.

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• Subject to the terms and conditions of this Agreement and provided that there is no Default or Event of Default, the Issuing Bank agrees to issue Letters of Credit for the account of the Borrower pursuant to Section 2.4 hereof in an aggregate amount for the Borrower at any one time not to exceed the Available Letter of Credit Commitment.

• Subject to the terms and conditions of this Agreement, the Issuing Bank agrees to issue Letters of Credit for the account of the Borrower (for itself and on behalf of its Restricted Subsidiaries) pursuant to Section 2.14 hereof in an aggregate amount not to exceed the Available Letter of Credit Commitment determined immediately prior to giving effect to the issuance thereof.

More Definitions of Available Letter of Credit Commitment

Available Letter of Credit Commitment means, at any time, the lesser

Available Letter of Credit Commitment means, at any time, the lesser of (a) (i) $5,000,000.00 minus (ii) all Letter of Credit Obligations then outstanding, and (b) the Available Revolving Loan Commitment then in effect."

Available Letter of Credit Commitment means, at any time, the lesser of (a)(i) the lesser of (1) the Letter of Credit CommitmentCommitments of all Issuing Banks and (2) $15,000,000, minus (ii) all Letter of Credit Obligations then outstanding, and

Available Letter of Credit Commitment means, at any time, the lesser of (a) $16,000,000 and (b) the Available Commitment. "Bank of America" means Bank of America, N.A.

Available Letter of Credit Commitment means the Letter of Credit Commitment minus an amount equal to the outstanding Letters of Credit issued hereunder.

Available Letter of Credit Commitment means, at any time, the lesser of (a) (i) the Letter of Credit Commitment,minus (ii) all Letter of Credit Obligations then outstanding, and (b) the Available Revolving Commitment on such date.

Available Letter of Credit Commitment as to any Bank at a particular date, shall mean an amount equal to the amount of such Bank's Letter of Credit Commitment at such time less such Bank's L/C Exposure; collectively, as to all the Banks, the "Available Letter of Credit Commitments."