Fronting Lender definition

Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

Fronting Lender means, (a) as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder, or (b) as to any Existing Letter of Credit, KeyBank.

Fronting Lender means Sumitomo Mitsui Banking Corporation, its successors and assigns.

Examples of Fronting Lender in a sentence

• Accrued fees described in clause (ii) of the first sentence of this paragraph in respect of each Letter of Credit shall be payable at times to be determined by the Fronting Lender, the Borrower and the Agent.

• Any action taken or omitted by a Fronting Lender under or in connection with a Letter of Credit, shall not create for such Fronting Lender any resulting liability to any other Lender except to the extent that the actions or inactions of the Fronting Lender with respect to such Letter of Credit are judicially determined to have constituted bad faith, gross negligence or willful misconduct.

• All payments and repayments of principal and interest in respect of the Loans (except as provided in Sections 2.15 and 2.16) shall be made pro rata among the Lenders in accordance with the then outstanding principal amount of the Loans and/or participations in Letter of Credit Outstandings hereunder and all payments of Commitment Fees and Letter of Credit Fees (other than those payable to a Fronting Lender) shall be made pro rata among the Lenders in accordance with their Commitments.

• The Borrower shall pay with respect to each Letter of Credit (i) to the Agent on behalf of the Lenders a fee calculated (on the basis of the actual number of days elapsed over a year of 360 days) at the rate of (x) four percent (4.00%) per annum on the daily average Letter of Credit Outstandings and (ii) to the Fronting Lender such Fronting Lender’s customary fees for issuance, amendments and processing referred to in Section 2.03.

• A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender or the Fronting Lender, or by the Agent on its own behalf or on behalf of a Lender or the Fronting Lender, setting forth in reasonable detail the basis and calculation of such amounts, shall be conclusive absent manifest error.

More Definitions of Fronting Lender

Fronting Lender means any one of the Fronting Lenders.

Fronting Lender means, as to any Letter of Credit transaction hereunder, KeyBank National Association, as the issuer of such Letter of Credit, or such other Lender (or affiliate or subsidiary thereof) as determined by Agent, as shall agree to issue the Letter of Credit in its own name, but on behalf of the Lenders hereunder, and as approved by TCC or the account party.

Fronting Lender. JPMorgan Chase Bank, N.A.

Fronting Lender means DBNY, in its individual capacity or any Person serving as a successor Administrative Agent hereunder, in its individual capacity as a Fronting Lender.

Fronting Lender means, (a) as to any Letter of Credit transaction hereunder, Xxxxx Fargo as issuer of the Letter of Credit, or, in the event that Xxxxx Fargo shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder, or (b) as to any Existing Letter of Credit, KeyBank National Association or Bank of America, N.A., as applicable.

Fronting Lender with respect to a particular Fronted Offshore Currency, each Lender (or an Affiliate thereof) which executes and delivers a Fronting Lender Addendum with respect to such Fronted Offshore Currency, provided that, unless the Administrative Agent otherwise agrees, there shall be no more than one Fronting Lender for any Fronted Offshore Currency.

Fronting Lender means CIBC or any other Lender selected by the Borrower and approved by the Agent which agrees to act as a fronting lender to issue Fronted LCs.