Examples of L/C Commitment in a sentence
Upon the repayment of the then outstanding Term C Loans on the applicable Maturity Date, the Term L/C Commitment shall be reduced by an amount equal to the portion of such repayment constituting principal as provided in Section 4.3(b) and the Borrower shall be permitted to withdraw an amount up to the amount of such prepayment from the Term C Collateral Account to complete such repayment as, and to the extent, provided in Section 4.3(b).
In addition, the Collateral Agent hereby agrees (at the direction of the Administrative Agent) to instruct (or to instruct the Collateral Trustee to instruct) the Depositary Bank to release and pay to the Borrower amounts (if any) remaining on deposit in the Term C Collateral Accounts after the termination or cancellation of all Term Letters of Credit, the termination of the Term L/C Commitment and the repayment in full of all outstanding Term C Loans and Term L/C Obligations.
Upon any prepayment of Term C Loans, the Term L/C Commitment shall be reduced by an amount equal to such prepayment as provided in Section 4.3(b) and the Borrower shall be permitted to withdraw an amount up to the amount of such prepayment from the Term C Collateral Account to complete such prepayment as, and to the extent, provided in Section 4.3(b).
The Specified Revolving L/C Commitment of each Revolving L/C Issuer shall terminate on the Revolving L/C Maturity Date.
The L/C Commitment of each L/C Issuer shall terminate on the Maturity Date.