Fronted LC definition

Fronted LC means a Letter of Credit issued by the Fronting Lender for the account of the Lenders.
Sample 1Sample 2Sample 3
Fronted LC means any Letter of Credit that is not a Swingline LC.
Sample 1Sample 2Sample 3
Fronted LC means, in respect the Canadian Syndicated Facility, a Letter of Credit issued by a Canadian Syndicated Facility Fronting Lender for the account of the Canadian Syndicated Facility Lenders and, in respect of the U.S. Syndicated Facility, a Letter of Credit issued by the U.S. Syndicated Facility Fronting Lender for the account of the U.S. Syndicated Facility Lenders.
Sample 1

Examples of Fronted LC in a sentence

  • Notwithstanding anything herein to the contrary, any addition or removal of a Fronting Issuing Bank hereunder or change in its Fronted LC Commitment may be effected only with the agreement of such Fronting Issuing Bank and the Company (and with the consent of Administrative Agent (such consent not to be unreasonably withheld)) (provided that no such change shall increase the Commitment of any Bank).

  • The Fronting Bank shall not at any time be obligated to issue any Fronted Letter of Credit hereunder if such issuance would conflict with, or cause the Fronting Bank or any Fronted L/C Participant to exceed any limits imposed by, any Applicable Law.

  • The Administrative Agent shall, promptly following its receipt thereof, distribute to the Fronting Bank and the Fronted L/C Participants all commissions received pursuant to this Section 3.4(b) in accordance with such Person’s respective Revolving Credit Commitment Percentage.

  • Each payment to the Administrative Agent of an Issuing Lender’s or Fronted L/C Participants’ commissions shall be made in like manner, but for the account of the applicable Issuing Lender or the Fronted L/C Participants, as the case may be.

  • With respect to any Letter of Credit, such Letter of Credit shall be in such form as the Borrower may request and as shall be reasonably satisfactory to the Administrative Agent (with respect to any Syndicated Letter of Credit) or the relevant Fronted LC Issuing Bank (with respect to any Fronted Letter of Credit to be issued by it) (and which shall not contain provisions that are inconsistent with the terms hereof).

  • Under the agreement, Amira will provide Integ with up to $5.6 million in funding through the purchase of Integ Series B Preferred Stock.

  • Subject to the terms and conditions set forth herein, at the request of the Borrower, the Lenders (in the case of Syndicated Letters of Credit) and the Fronted LC Issuing Banks (in the case of Fronted Letters of Credit) agree at any time and from time to time during the Availability Period to issue standby Letters of Credit for the account of the Borrower or any of its Subsidiaries.

  • Such Lender or such Fronted LC Issuing Bank, as the case may be, shall deliver to the Borrower (with a copy to the Administrative Agent) a written statement, setting forth in reasonable detail the basis for calculating the additional amounts, which statement shall be conclusive and binding upon all parties hereto absent manifest error.

  • The Administrative Agent shall notify the Lenders of any such replacement of a Fronted LC Issuing Bank.

  • If any indemnity furnished to any Agent or any Fronted LC Issuing Bank for any purpose shall, in the opinion of such Agent or such Fronted LC Issuing Bank, be insufficient or become impaired, such Agent or such Fronted LC Issuing Bank may call for additional indemnity and cease, or not commence, to do the acts indemnified against until such additional indemnity is furnished.


More Definitions of Fronted LC

Fronted LC means a Letter of Credit issued by a Fronting Lender for the account of the Canadian Facility Lenders.
Sample 1Sample 2
Fronted LC means, in respect the Revolving Syndicated Facility, a Letter of Credit issued by a Fronting Lender for the account of the Lenders and, in respect of the U.S. Facility, a Letter of Credit issued by the U.S. Facility Fronting Lender for the account of the U.S. Facility Lenders.
Sample 1

Related to Fronted LC

  • 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 means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).

  • Facility LC Application is defined in Section 2.19.3.

  • 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 Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

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

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

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

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

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

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

  • 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.

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • 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.

  • 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.

  • 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.

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

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

  • Letter of Credit Outstandings means, at any time, the sum of, without duplication, (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Facility LC is defined in Section 2.19.1.

  • Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).