L/C Facility definition

L/C Facility means the letter of credit facility established pursuant to Article III.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

L/C Facility the L/C Commitments and the extensions of credit made thereunder.

L/C Facility means the agreement of L/C Issuer to issue Letters of Credit subject to the terms and conditions and up to the maximum amounts and duration as set forth in Section 2.09 of the Credit Agreement.

Examples of L/C Facility in a sentence

With respect to the Project LC Facility, the Borrower may select a new Project LC Issuer to be appointed that will replace the existing Project LC Issuers and act as a fronting Project LC Issuer with respect to each of the existing Project LC Tranches then in effect.
Upon execution of such Project LC Facility Joinder and any such amendments to the Loan Documents, the New Project LC Issuers shall become Project LC Issuers hereunder, the New Project LC Loan Lenders shall become Project LC Loan Lenders hereunder, the New Project Issuing Commitments shall become Project LC Issuing Commitments hereunder and the New Project LC Loan Commitments shall become Project LC Loan Commitments hereunder.
The effectiveness of any Project LC Facility Joinder shall be subject to the satisfaction on the date thereof of each of the conditions set forth above and as such other conditions as requested by the Lenders under the New Project LC Loan Commitments established in connection therewith.
Availability The commitment to issue letters of credit (“Letters of Credit”) will terminate five (5) Business Days before the LC Facility Scheduled Maturity Date.
If the Permitted LC Facility Pari Structure is not implemented by the Permitted LC Facility Amendment Outside Date.

More Definitions of L/C Facility

L/C Facility means the letter of credit facility established pursuant to Section 2.1B.

L/C Facility means the letter of credit facility established pursuant to Article III. The L/C Facility is part of, and not in addition to, the Revolving Credit Facility.

L/C Facility means any facility related to the issuance of letters of credit, together with any documents entered into or otherwise related thereto (including any cash collateral and control agreements), as the same may be amended, amended and restated, supplemented or otherwise modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced, in whole or in part, from time to time.

L/C Facility the L/C Commitments and the extensions of credit made thereunder. “L/C Fee Payment Date”: as defined in Section 3.3(a).

L/C Facility means the letter of credit facility established pursuant to Section 2.15.

L/C Facility means the letter of credit facility under the Dollar Tranche established pursuant to Section 2.3.

L/C Facility means a letter of credit facility of the type referred to in clause 5.