DSR Letter of Credit definition

DSR Letter of Credit means any letter of credit issued pursuant to Section 2.05 for the purpose set forth in Section 5.01(f), which letter of credit shall be substantially in the form of Exhibit H-1 or otherwise in form and substance reasonably acceptable to the applicable Issuing Bank, the Administrative Agent and the Borrower.

DSR Letter of Credit means a Letter of Credit used for DSR Purposes.

DSR Letter of Credit means a letter of credit in favor of the Collateral Agent substantially in the form of Exhibit A, issued or to be issued by the Issuing Bank.

Examples of DSR Letter of Credit in a sentence

• At the written request of a Responsible Officer of Borrower to Depositary Agent (countersigned by Administrative Agent) delivered at least two (2) Business Days prior to the release date specified in such request, Depositary Agent shall release funds from the Debt Service Reserve Account so long as Borrower has provided a DSR Letter of Credit in a stated amount equal to the amount of funds to be released from the Debt Service Reserve Account.

• From and after the Term Conversion, following and during the continuation of a Trigger Event, Administrative Agent may, at the written direction of the Required Lenders, make a claim and draw under each DSR Letter of Credit, on a pro rata basis, in any amount up to the full stated amount of such DSR Letter of Credit.

• Depositary Agent shall credit any such additional DSR Letter of Credit to the Debt Service Reserve Account and such DSR Letter of Credit shall be subject to all of the terms of this Section 3.8.

• The Borrower shall, pursuant to Section 2.2.5, be entitled to reinstatement of the amounts drawn under each DSR Letter of Credit upon reimbursement of any such drawing or, in the event that such drawing is financed by an LC Loan, upon repayment of such LC Loan.

More Definitions of DSR Letter of Credit

DSR Letter of Credit has the meaning assigned to such term in Section 2.2.3.

DSR Letter of Credit has the meaning specified in the Depositary Agreement.

DSR Letter of Credit means an irrevocable letter of credit issued by a Facility Lender in favour of the Canadian Security Trustee or the U.S. Security Trustee, as applicable, pursuant to the Facility Agreements.

DSR Letter of Credit means one or more letters of credit issued in favor of the Collateral Agent for the benefit of (a) the Secured Parties and (b) any holders of Indebtedness under, and any other collateral agents or representatives for the holders of any Indebtedness under, any Incremental Term Facilities secured by the Collateral on a pari passu basis, by an Acceptable Letter of Credit Provider, which the Borrowers have designated as a “DSR Letter of Credit” to the Collateral Agent in writing.

DSR Letter of Credit means a letter of credit provided by the Company in respect of all or a portion of the DSRA Required Balance.

DSR Letter of Credit means (a) any letter of credit, in form and substance reasonably satisfactory to the Administrative Agent, issued under the Revolving Facility, if any, or (b) any irrevocable standby letter of credit, in form and substance reasonably satisfactory to the Administrative Agent, (i) issued by an Acceptable LC Issuer on account of an applicant (which shall not be a Loan Party or a Subsidiary of a Loan Party), (ii) in respect of which no Loan Party or Subsidiary of a Loan Party has any reimbursement obligations or has provided any credit support therefor and (iii) which letter of credit shall name the Collateral Agent (for the benefit of the Secured Parties) as the beneficiary thereunder.

DSR Letter of Credit shall have the meaning given in Section 2.3(a) of the Agreement.