Definition of L/C Facility


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


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

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 2.14 of the Credit Agreement.

Examples of L/C Facility in a sentence

Each LC Facility Document is the legal, valid and binding obligation of the Account Party thereto enforceable against such Account Party in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity (regardless of whether considered in a proceeding in equity or at law).
A certificate of the Secretary or an Assistant Secretary of each domestic Account Party certifying the names and true signatures of the officers of such Account Party authorized to sign each LC Facility Document to which it is a party and the other documents to be delivered hereunder.
No authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by any Account Party of the LC Facility Documents to which it is a party.
The Company further agrees to pay within 30 days after presentation of a statement of account all costs and expenses of the LC Issuer (including, without limitation, reasonable and documented fees and expenses of counsel), incurred in connection with the enforcement (whether through negotiations, legal proceedings or otherwise) of the LC Facility Documents, the Letters of Credit, and the other documents to be delivered hereunder and thereunder.
Within 90 days following the Effective Date, deliver certified copies of the resolutions of the board of directors (or persons performing similar functions) of each Account Party (other than the Company) approving the Agreement and each of the LC Facility Documents to which it is or is to be a party and ratifying the execution of each of the LC Facility Documents, together with legal opinions delivered by legal counsel to each such Account Party, in form and substance satisfactory to the LC Issuer.



More definitions of L/C 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 means the letter of credit facility established pursuant to Article 3.

L/C Facility means a credit facility for the issuance of letters of credit on behalf of the Parent, Borrower or the Restricted Subsidiaries, as the same may be amended, supplemented, modified, restated, refinanced or replaced from time to time; provided that any such amendment, supplement, modification, restatement, refinancing or replacement shall not contravene the provisions of the Pari Passu Intercreditor Agreement.

L/C Facility means the facility for an aggregate amount of up to Twelve million Three hundred Three thousand Euros (€12,303,000) to be made available to the Borrowers by the L/C Bank for the purpose of issuance of Letters of Credit pursuant to the terms of the L/C Facility Agreement;

L/C Facility means the letter of credit facilities established pursuant to Section 2.3 hereof.

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 the letter of credit facility established pursuant to Section 2.15.