L/C Exposure definition

L/C Exposure at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time, and (b) the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time. The L/C Exposure of any L/C Lender at any time shall equal its L/C Percentage of the aggregate L/C Exposure at such time.
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L/C Exposure at any time, the total L/C Obligations. The L/C Exposure of any Revolving Lender at any time shall be its Revolving Percentage of the total L/C Exposure at such time.
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L/C Exposure means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit as of such date and (b) the aggregate amount of all unreimbursed obligations in respect of any drawn Letter of Credit at such time. The L/C Exposure of any Revolving Lender at any time shall be its Pro Rata Share of the aggregate L/C Exposure at such time.
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Examples of L/C Exposure in a sentence

  • If an L/C Issuer resigns, it shall retain all the rights, powers, privileges, and duties of an L/C Issuer hereunder with respect to all L/C outstanding as of the effective date of its resignation as an L/C Issuer and all L/C Exposure with respect thereto (including the right to require Lenders to make Base Rate Loans, Daily SOFR Rate Loans or fund risk participations in unreimbursed amounts pursuant to Section 2.3(c)).

  • At no time shall the sum of the then outstanding aggregate principal amount of the Revolving Loans plus the LC Exposure exceed the Total Revolving Commitment.

  • Administrative Agent, acting solely for this purpose as a non-fiduciary agent of ▇▇▇▇▇▇▇▇ (and such agency being solely for tax purposes), shall maintain at Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of Lenders, and the Commitments of, and principal amounts of the Loans and L/C Exposure owing to, each Lender pursuant to the terms hereof from time to time (the “Register”).

  • For purposes of calculating the commitment fee only, the Revolving Commitment of any Class of any Revolving Lender shall be deemed to be used to the extent of Revolving Loans of such class of such Revolving Lender and the LC Exposure of such Revolving Lender attributable to its Revolving Commitment of such Class, and no portion of the Revolving Commitment shall be deemed used as a result of outstanding Swingline Loans.

  • Moneys in such account shall be applied by the Administrative Agent to reimburse the applicable Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of the Required Revolving Lenders) be applied to satisfy other Secured Obligations.


More Definitions of L/C Exposure

L/C Exposure means, at any time, the sum of (a) the aggregate undrawn face amount of all outstanding Letters of Credit and (b) the aggregate amount of unreimbursed L/C Payments under all outstanding Letters of Credit (or, if applicable with respect to clauses (a) and (b), the Dollar Equivalent thereof).
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L/C Exposure means at any time the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b) the aggregate principal amount of all L/C Disbursements that have not yet been reimbursed at such time. The L/C Exposure of any Lender at any time shall mean its Applicable Share of the aggregate L/C Exposure at such time.
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L/C Exposure means, with respect to any Revolving Lender at any time, its Applicable Percentage of the L/C Obligations.
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L/C Exposure means at any time the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time and (b) the aggregate principal amount of all L/C Disbursements that have not yet been reimbursed at such time. The L/C Exposure of any Revolving Credit Lender at any time shall equal its Pro Rata Percentage of the aggregate L/C Exposure at such time.
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L/C Exposure means, at any time, the aggregate maximum amount available to be drawn under outstanding Letters of Credit at such time.
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L/C Exposure means, at any time, the Outstanding Amount with respect to L/C Obligations. The L/C Exposure of any Lender at any time shall be its Applicable Revolving Credit Percentage of the total L/C Exposure at such time.
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L/C Exposure means, at any time, the amount expressed in Dollars of the aggregate face amount of all drafts which may then or thereafter be presented by beneficiaries under all Letters of Credit then outstanding plus (without duplication) the face amount of all drafts which have been presented under Letters of Credit but have not yet been paid or have been paid but not reimbursed; provided that L/C Exposure shall not exceed $350,000,000 at any time.
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