DSRA LC definition

DSRA LC means that certain letter of credit to be issued in favor of Administrative Agent pursuant to Section 2.3(a)(ii) of the Financing Agreement.
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Examples of DSRA LC in a sentence

  • Any DSRA L/C Loans prepaid pursuant to Section 2.7(f) may not be re-borrowed.

  • The Borrower shall be conclusively deemed to have waived any such claim against any DSRA L/C Issuing Bank and its correspondents unless such notice is given as aforesaid.

  • No DSRA L/C Issuer shall be entitled to share in the security constituted by the Security Documents with the Finance Parties by reason of provision of the DSRA Letter of Credit.

  • On the Term-Conversion Date, Borrower shall deposit or cause to be deposited into the Debt Service Reserve Account an amount equal to the DSRA Minimum Balance (minus the undrawn Stated Amount of any Acceptable DSRA LC posted as of such date).

  • The proceeds of the DSRA L/C Loans shall be used to finance the DSRA L/C Facility.

  • Subject to the final sentence of this paragraph, in the case of a request for an amendment of any outstanding Letter of Credit, such DSRA L/C Application shall specify in form and detail reasonably satisfactory to the applicable DSRA L/C Issuing Bank: (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); and (3) the nature of the proposed amendment.

  • Each Lender and each DSRA L/C Issuing Bank hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender and such DSRA L/C Issuing Bank under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (i).

  • Partial prepayments of Term Loans and DSRA L/C Loans shall be in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, in the event of a prepayment in full of the Term Loans or DSRA L/C Loans, an amount equal to the outstanding principal amount of such Loans being prepaid).

  • In the event of any conflict between the terms of this Agreement and the terms of any DSRA L/C Application or any other DSRA L/C Documents, the terms hereof shall control.

  • Any such waiver and any such amendment, supplement or modification shall apply equally to each of the DSRA L/C Issuing Banks and Lenders and shall be binding upon the Loan Parties, the DSRA L/C Issuing Banks, the Lenders, the Administrative Agent and all future holders of the Loans.