Collateralized Letter of Credit means a Letter of Credit that has been irrevocably cash collateralized by the Borrower pursuant to arrangements reasonably satisfactory to the Issuing Bank that issued such Letter of Credit.
Collateralized Letter of Credit has the meaning assigned to such term in Section 2.16(c)(iii).
Collateralized Letter of Credit as defined in Section 2.4(a).
Examples of Collateralized Letter of Credit in a sentence
In connection with any request for a Collateralized Letter of Credit, the Borrower shall deliver to the Administrative Agent a Collateralized L/C Collateral Certificate no later than 11:00 a.m. (New York City time) on the Business Day immediately preceding the date of issuance of such Collateralized Letter of Credit, confirming that the Collateralized L/C Aggregate Collateral Amount after giving effect to such issuance shall equal or exceed the Minimum Collateralized L/C Aggregate Collateral Amount.
More Definitions of Collateralized Letter of Credit
Collateralized Letter of Credit shall have the meaning provided in Section 3.02(b).
Collateralized Letter of Credit means any Revolving Letter of Credit as to which an amount of cash not less than the Available Amount thereof has been deposited in an L/C Collateral Account in respect thereof.
Collateralized Letter of Credit means any Letter of Credit for which cash collateral is then on deposit in the Designated LC Collateral Account. For the avoidance of doubt, a Collateralized Letter of Credit may be fully or partially cash collateralized.
Collateralized Letter of Credit means, with respect to any Person that becomes a Subsidiary after the date hereof, each letter of credit issued for the account of such Person for which either (a) the Administrative Agent has received evidence satisfactory to the Administrative Agent in its Permitted Discretion that cash has been deposited with the issuer of such Letter of Credit in an amount sufficient to cash collateralize such letter of credit, or (b) the Issuing Bank has issued to the issuer of such letter of credit a backstop Letter of Credit with respect to such letter of credit.”
Collateralized Letter of Credit means each Letter of Credit previously issued for the account of a Borrower that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01(b).
Collateralized Letter of Credit means a Letter of Credit that has been irrevocably cash collateralized by the Borrower pursuant to arrangements satisfactory to the Issuing Bank that issued such Letter of Credit, which shall be at least 20 Business Days prior to the Commitment Termination Date. Notwithstanding anything to the contrary in this Section, the obligations of the Revolving Lenders to acquire participations in Letters of Credit and to reimburse an Issuing Bank for unreimbursed amount shall terminate with respect to any Collateralized Letter of Credit upon the Commitment Termination Date and any participation held by any Lender in a Collateralized Letter of Credit on the Commitment Termination Date shall be deemed to have been assigned to the Issuing Bank that issued such Collateralized Letter of Credit on the Commitment Termination Date.”
Collateralized Letter of Credit as defined in Section 2.4(a). “Collection Deposit Account” as defined in Section 5.17(a). “Collection Lockbox” as defined in Section 5.17(a). “Commitment” means a Revolving Commitment. “Commitment Letter” means the Commitment Letter dated June 5, 2018, among Fifth Third, PNC Bank, PNC Capital Markets LLC and Merger Sub. “Commodity Exchange Act” means the Commodity Exchange Act (7 USC. § 1 et seq.), as amended from time to time, and any successor statute. DMFIRM #406105327 v12 21