Canadian Letter of Credit Facility definition

Canadian Letter of Credit Facility means, at any time, an amount equal to the least of (a) the aggregate amount of the Issuing Banks’ Canadian Letter of Credit Commitments at such time and (b) $10,000,000 and (c) the aggregate amount of the Canadian Prime Rate Commitments, as such amount may be reduced at or prior to such time pursuant to Section 2.06 or increased pursuant to Section 2.19.
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Canadian Letter of Credit Facility means the facility described in Article III hereof providing for the issuance by CIBC for the account of TD Canada of Canadian Letters of Credit in an aggregate stated amount at any time outstanding not exceeding the Canadian Letter of Credit Commitment;
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Canadian Letter of Credit Facility has the meaning specified in SECTION 2.16(a).
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Examples of Canadian Letter of Credit Facility in a sentence

  • Each Canadian Revolving Lender, by their execution of a Lender Authorization and Consent agrees that, as of the Fourth Amendment Effective Date, their existing Canadian Revolving Commitments (and outstanding Canadian Revolving Loans) will have the Canadian Revolver Termination Date as set forth in Exhibit A hereto and they will risk participate in the Canadian Letter of Credit Facility pursuant to the terms of the amended Credit Agreement attached hereto as Exhibit A.

  • No Obligor may assign or transfer any of its Rights or obligations hereunder without the prior written consent of Lenders and, if such Rights or obligation relate to any Letter of Credit, the Letter of Credit Facility, any Canadian Letter of Credit or the Canadian Letter of Credit Facility, Issuing Bank or Canadian Issuing Bank, as the case may be.

  • Where the circumstances noted in Rule 5.5 apply, New Awards may be granted in consideration for the release of Subsisting Awards granted under the Plan.

  • CREDIT FACILITIES 6062 2.1 Commitment 6062 2.2 U.S. Letter of Credit Facility 6668 2.3 Canadian Letter of Credit Facility 7173 2.4 Existing Letters of Credit 7577 2.5 Extension of Facility Termination Date 7577 Section 3.

  • The Outstandings under the Canadian Letter of Credit Facility shall not exceed US $10,000,000 and no Canadian Letter of Credit shall be issued if, after giving effect thereto, Outstandings on such day shall exceed the applicable Maximum Permissible Principal Amounts as of such day.

  • Within the limits of the Canadian Letter of Credit Facility, and subject to the limits referred to above, CA Canada may request the issuance of Canadian Letters of Credit under this SECTION 2.16(a), repay any Advances resulting from drawings thereunder pursuant to SECTION 2.16(c), and request the issuance of additional Canadian Letters of Credit under this SECTION 2.16(a).

  • Letters of Credit issued under the US Letter of Credit Facility shall be issued in US Dollars; Letters of Credit issued under the Canadian Letter of Credit Facility may be issued in US Dollars or in Canadian Dollars or in any other currency acceptable to the Canadian Issuing Bank as selected by the applicable Facility Borrower.

  • Credit Facilities 60 2.1 Revolver Commitments 60 2.2 U.K. Letter of Credit Facility 65 2.3 U.S. Letter of Credit Facility 68 2.4 Canadian Letter of Credit Facility 71 2.5 Term Loan Commitment 75 Section 3.

  • Waypoints are here defined as specific states of the collaborative narrative.

  • This is to offset the risks often discovered through the aggregation of information that additional information could be disclosed or at least interpreted.


More Definitions of Canadian Letter of Credit Facility

Canadian Letter of Credit Facility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the Canadian Issuing Banks' Canadian Letter of Credit Commitments at such time and (b) U.S.$20,000,000, as such amount may be reduced at or prior to such time pursuant to Section 2.06.
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Related to Canadian Letter of Credit Facility

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

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

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Existing Letter of Credit means each letter of credit previously issued (or deemed issued) for the account of the Borrower, the Company or any of their respective Subsidiaries under the Existing Credit Facilities that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01C.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).