L/C Amount definition

L/C Amount means the sum of (i) the aggregate face amount of any issued and outstanding Letters of Credit and (ii) the unpaid amount of the Obligation of Reimbursement.
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L/C Amount shall have the meaning assigned to such term in the definition of “Revolving L/C Exposure”.
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L/C Amount means the sum of (a) the aggregate face amount of any issued and outstanding Letters of Credit, plus (b) amounts drawn under Letters of Credit for which the Lenders have neither been reimbursed nor effected a Borrowing.
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Examples of L/C Amount in a sentence

  • Without notice or demand, if the sum of the outstanding principal balance of the Revolving Advances and the L/C Amount shall at any time exceed the Maximum Line, then, in any such case, the Borrower shall immediately prepay the Revolving Note to the extent necessary to eliminate such excess, and if such prepayment is insufficient to eliminate such excess, the Borrower shall pay to the Lender in immediately available funds an amount equal to the remaining excess.

  • The Lender shall have no obligation to issue any Letter of Credit if the face amount of the Letter of Credit to be issued would exceed the Maximum Line less the sum of (A) all outstanding and unpaid Revolving Advances and (B) the L/C Amount.

  • If the Revolving Note expires or is terminated for any reason whatsoever while any Letter of Credit is outstanding, Borrower shall thereupon pay Lender in immediately available funds for deposit in the Special Account an amount equal to one hundred and five percent (105%) of the then outstanding L/C Amount.

  • The Lender shall have no obligation to make a Revolving Advance if, after giving effect to such requested Revolving Advance, the sum of the outstanding and unpaid Revolving Advances and the L/C Amount under this Section or otherwise would exceed the Maximum Line.


More Definitions of L/C Amount

L/C Amount means the sum of (i) the aggregate amount available to be drawn under any issued and outstanding Letters of Credit and (ii) the unpaid amount of the Obligation of Reimbursement.
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L/C Amount means the aggregate face amount of all Acceptable Letters of Credit required by Exhibit 31.
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L/C Amount means the sum of (i) the aggregate face amount of any issued and outstanding Letters of Credit, plus (ii) amounts drawn under Letters of Credit for which the Lenders have neither been reimbursed nor made any Advance.
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L/C Amount for a Borrower means the sum of (i) the Aggregate Face Amount of any issued and outstanding Letters of Credit for which such Borrower is the account party and (ii) the unpaid amount of the Obligation of Reimbursement with respect to such Letters of Credit.
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L/C Amount has the meaning set forth in Section 2.17(B)(ii)(b) hereof.
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L/C Amount for a Borrower means the sum of (i) the aggregate face amount of any issued and outstanding Letters of Credit issued to such Borrower and (ii) the unpaid amount of the Obligation of Reimbursement of such Borrower.
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L/C Amount is defined in Section 6.5(a).
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