Canadian Letter of Credit definition

Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

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Canadian Letter of Credit means any letters of credit issued or to be issued by the Canadian Issuing Bank under the Canadian Subfacility requested by a Canadian Borrower, if any, pursuant to Section 2.13.

Canadian Letter of Credit means documentary or standby letters of credit issued for the account of the Canadian Borrower by Canadian L/C Issuers, and bankers’ acceptances issued by Canadian Borrower, for which Canadian Agent and Lenders have incurred Canadian Letter of Credit Obligations.

Examples of Canadian Letter of Credit in a sentence

The Canadian Borrower shall pay or cause to be paid directly to the Canadian L/C Issuer for its own account, in Canadian Dollars, a fronting fee with respect to each Canadian Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the Dollar Equivalent of the actual daily maximum amount available to be drawn under such Canadian Letter of Credit (whether or not such maximum amount is then in effect under such Canadian Letter of Credit) and on a quarterly basis in arrears.
Each request by the Canadian Borrower for the issuance or amendment of a Canadian Letter of Credit shall be deemed to be a representation by the Canadian Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence.

More Definitions of Canadian Letter of Credit

Canadian Letter of Credit has the meaning assigned to such term in Section 2.05(a)(i)(B).

Canadian Letter of Credit shall have the meaning provided in Section 3.01(a).

Canadian Letter of Credit is defined in clause (a) of Section 2.1.2.

Canadian Letter of Credit means any Letter of Credit or similar instrument (including a bank guarantee) acceptable to the applicable Issuing Bank issued hereunder for the purpose of providing credit support for the Canadian Borrower.

Canadian Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for the Canadian Borrowers or any Canadian Subsidiary.

Canadian Letter of Credit means a Letter of Credit issued under the Canadian LOC Subfacility, as referenced in Section 2.11(a) plus Existing Canadian Letters of Credit.

Canadian Letter of Credit means any commercial or standby letter of credit issued or to be issued by an Issuing Bank for the account of the U.S. Borrower or any of its Subsidiaries pursuant to Section 2.04(a)(iii) of this Agreement, and any letter of credit listed on Schedule 1.01(i) issued and outstanding as of the Restatement Date. Each such letter of credit listed on Schedule 1.01(i) shall be deemed to constitute a Canadian Letter of Credit and a Letter of Credit issued hereunder on the Restatement Date for all purposes under this Agreement and the other Loan Documents.