Back-Stop Arrangements definition

Back-Stop Arrangements means, collectively, Letter of Credit Back-Stop Arrangements and Swingline Back-Stop Arrangements.

Back-Stop Arrangements means, collectively, Letter of Credit Back Stop Arrangements and Swingline Back Stop Arrangements.

Back-Stop Arrangements collectively, the Letter of Credit Back-Stop Arrangements and the Swing Line Back-Stop Arrangements.

Examples of Back-Stop Arrangements in a sentence

• Subject to any transfer restrictions set forth in this Agreement, every covenant, term, and provision of this Agreement shall be binding upon and inure to the benefit of the Members and their respective heirs, legatees, legal representatives, successors, transferees, and assigns.

• In addition, it would not be cost effective to the ReserveBanks to continue to provide and support the current traditionalsettlement sheet service in addition to the enhanced service.

• If any Revolving Credit Lender becomes a Defaulting Lender at any time that any Letter of Credit issued by the L/C Issuer is outstanding, the Borrower shall enter into the applicable Letter of Credit Back-Stop Arrangements with the L/C Issuer no later than ten (10) Business Days after the date such Revolving Credit Lender becomes a Defaulting Lender.

• If the Revolving Loan Commitments have been terminated, all Obligations have been paid in full and no Letters of Credit are outstanding, then all funds held as cash collateral pursuant to the Letter of Credit Back-Stop Arrangements shall thereafter be promptly returned to the applicable Borrowers.

• Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are reallocated to pay outstanding amounts owed by a Defaulting Lender or to provide Back-Stop Arrangements pursuant to this Section 2.27(b) shall be deemed paid to such Defaulting Lender, and each Lender hereby irrevocably consents thereto.

More Definitions of Back-Stop Arrangements

Back-Stop Arrangements shall have the meaning provided in Section 3.03(b).

Back-Stop Arrangements means, collectively, Foreign Currency Back-Stop Arrangements and Swing Line Back-Stop Arrangements.

Back-Stop Arrangements means Letter of Credit Back-Stop Arrangements.

Back-Stop Arrangements means, collectively, Letter of Credit Back Stop Arrangements and Swingline Back Stop Arrangements. “Bail-In Action” shall mean the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution. “Bail-In Legislation” shall mean (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). “Bank Product Reserve” shall mean a reserve established by the Collateral Agent from time to time in respect of the Credit Parties’ liabilities (or potential liabilities) as part of their cash management system such as, but not limited to, reserves for returned items, customary charges for maintaining Deposit Accounts and similar items. “Bankruptcy Code” shall have the meaning provided in Section 11.05. “Base Rate” shall mean, at any time, the highest of (a) the Federal Funds Rate plus ½%, (b) Term SOFR for a one month tenor in effect on such day, plus 1%, provided that this clause (b) shall not be applicable during any period in which Term SOFR is unavailable or unascertainable, and (c) the rate of interest announced, from time to time, within Xxxxx Fargo at its principal office in San Francisco as its “prime rate”, with the understanding that the “prime rate” is one of Xxxxx Fargo’s base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto and is evidenced by the recording thereof after its announcement in such internal publications as Xxxxx Fargo may designate (and, if any such announced rate is below zero, then the rate determined pursuant to this clause (c) shall be deemed to be zero). “Base Rate Loan” shall mean (i) each Swingline Loan and (ii) each Revolving Loan designated or deemed designated as such by the relevant Bor...

Back-Stop Arrangements means, collectively, Letter of Credit Back Stop Arrangements and Swingline Back Stop Arrangements. “Bank Product Reserve” shall mean a reserve established by the Collateral Agent from time to time in respect of the Credit Parties’ liabilities (or potential liabilities) as part of their cash management system such as, but not limited to, reserves for returned items, customary charges for maintaining Deposit Accounts and similar items.

Back-Stop Arrangements means, collectively, Letter of Credit Back-Stop Arrangements and Swingline Back-Stop Arrangements. “Bail-In Action” shall mean the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect

Back-Stop Arrangements means the L/C Back-Stop Arrangements and the Swing Line Back-Stop Arrangements.