L/C Commitment Amount definition

L/C Commitment Amount has the meaning given to that term in Section 2.3.(a).

L/C Commitment Amount means $100,000,000 as the same may be reduced permanently from time to time pursuant to Section 2.06.

L/C Commitment Amount means $10,000,000, as such amount may be reduced from time to time pursuant to the terms of this Agreement.

Examples of L/C Commitment Amount in a sentence

• Subject to the terms and conditions of this Agreement, the Agent, on behalf of the Lenders, agrees to issue for the account of the Borrower during the period from and including the Effective Date to, but excluding, the date 30 days prior to the Termination Date one or more letters of credit (each a “Letter of Credit”) up to a maximum aggregate Stated Amount at any one time outstanding not to exceed the L/C Commitment Amount.

• If on any date the LC Outstandings exceed the LC Commitment Amount, then the applicable LC Obligor or the Borrower shall, on such day, Cash Collateralize the LC Outstandings to the extent of such excess.

• Any reduction in the aggregate amount of the Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in the Swingline Commitment and the L/C Commitment Amount.

• Subject to the foregoing, any reduction of the Commitments to an amount below $100,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

• If on any date the LC Outstandings exceed the LC Commitment Amount, then the Borrower shall, before noon on the second Business Day following such date, Cash Collateralize any LC Outstandings that have not previously been Cash Collateralized, to the extent of such excess.

More Definitions of L/C Commitment Amount

L/C Commitment Amount means $700,000,000 as the same may be reduced permanently from time to time pursuant to Section 2.06.

L/C Commitment Amount means an amount equal to $10,000,000.

L/C Commitment Amount means, on any date of determination, an amount equal to 10% of the Revolving Commitments of all Revolving Lenders on such date.

L/C Commitment Amount means, at any time, the difference between (i) the lesser of (a) the Revolving Credit Commitment Amount at such time and (b) $30,000,000 and (ii) any L/C Commitment Reductions.

L/C Commitment Amount. $25,000,000.

L/C Commitment Amount equals $50,000,000.

L/C Commitment Amount has the meaning given to that term in Section 2.3.(a). “L/C Disbursement” has the meaning given to that term in Section 3.9.(b). “Lender” means each financial institution from time to time party hereto as a “Lender;” together with its respective successors and permitted assigns, and (a) as the context requires, includes the Swingline Lenders, but (b) except as otherwise expressly provided herein, shall exclude any Lender (or its Affiliates) in its capacity as a Specified Derivatives Provider. “Lender Parties” means, collectively, the Administrative Agent, the Lenders, the Issuing Banks, the Specified Derivatives Providers, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 11.5., any other holder from time to time of any of any Obligations and, in each case, their respective successors and permitted assigns. “Lending Office” means, for each Lender and for each Type of Loan, the office of such Lender specified in such Lender’s Administrative Questionnaire or in the applicable Assignment and Assumption, or such other office of such Lender as such Lender may notify the Administrative Agent in writing from time to time. “Letter of Credit” has the meaning given that term in Section 2.3.(a). “Letter of Credit Collateral Account” means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Banks and the Revolving Lenders, and under the sole dominion and control of the Administrative Agent. “Letter of Credit Documents” means, with respect to any Letter of Credit, collectively, any application therefor, any certificate or other document presented in connection with a drawing under such Letter of Credit and any other agreement, instrument or other document governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations. “Letter of Credit Liabilities” means, without duplication, at any time and in respect of any Letter of Credit, the sum of (a) the Stated Amount of such Letter of Credit plus (b) the aggregate unpaid principal amount of all Reimbursement Obligations of the Borrower at such time due and payable in respect of all drawings made under such Letter of Credit. For purposes of this Agreement, a Revolving Lender (other than the Revolving Lender then acting as Issuing Bank with respect to the related Letter of Credit) ...