L/C Participation definition

L/C Participation shall have the meaning provided in Section 3.3(a).

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L/C Participation shall have the meaning provided in Section 2A.04(a).

L/C Participation means a US L/C Participation or a Cdn L/C Participation.

Examples of L/C Participation in a sentence

• All LC Participation Fees and Fronting Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day and the last day).

• LC Participation Fees and Fronting Fees shall be payable on the last day of each fiscal quarter, commencing on the first such date to occur after the Closing Date; provided that all such fees shall be payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand (including documentation reasonably supporting such request).

• LC Participation Fees and Fronting Fees shall be payable on the first day of each fiscal quarter, commencing on the first such date to occur after the Closing Date; provided that all such fees shall be payable on the date on which the Revolving Commitments terminate and any such fees accruing after the date on which the Revolving Commitments terminate shall be payable on demand (including documentation reasonably supporting such request).

• All L/C Participation Fees and Issuing Bank Fees that are payable on a per annum basis shall be computed on the basis of the actual number of days elapsed in a year of 360 days.

• The Transfer Supplement shall be an amendment hereof only to the extent necessary to reflect the addition of such Purchasing Related Committed Purchaser as a “Related Committed Purchaser” and a related “LC Participant” and any resulting adjustment of the selling Related 782009308 25792734 Committed Purchaser’s Commitment and, if applicable, selling related LC Participant’s Pro Rata Share of the LC Participation Amount.

More Definitions of L/C Participation

L/C Participation means, as to any Lender at any time, with respect to all Letters of Credit, the product of the L/C Obligations and such Lender’s Commitment Percentage and, with respect to any particular Letter of Credit, the product of the L/C Obligations applicable solely to that particular Letter of Credit and such Lender’s Commitment Percentage.

L/C Participation shall have the meaning ascribed to that term in SECTION 3.4. "L/C PARTICIPATION FUNDING AMOUNT" shall have the meaning ascribed to that term in SECTION 3.6(b)(i)(A). "L/C PARTICIPATION FUNDING DATE" shall have the meaning ascribed to that term in SECTION 3.6(b)(ii). "L/C PARTICIPATION FUNDING NOTICE" shall have the meaning ascribed to that term in SECTION 3.6(b)(i)(A).

L/C Participation has the meaning assigned to such team in Section 2.2.4(a).

L/C Participation shall have the meaning provided in Section 3.3(a). “Lender” shall have the meaning provided in the preamble to this Agreement. Unless the context otherwise requires, the term “Lenders” includes the Swingline Lenders.

L/C Participation has the meaning given to it in Section 3.3(10)(a). (159) (152) “L/C Sublimit” means $30,000,000. (160) (153) “Lease Adjusted Funded Debt” means, at any time, for Master Borrower on a consolidated basis (excluding for greater certainty the Lithia Canada Dealers) and without duplication, all Funded Debt plus six times rental or lease expense. Notwithstanding the foregoing, with respect to any Permitted Acquisition, rent or lease expense (excluding leases and loans subject to a Securitization Program) shall include normalized rent or lease expense of the Person being acquired or whose assets are being acquired, as if such acquisition was made at the beginning of the 12-month period prior to such Permitted Acquisition solely with respect to the calculation of Lease Adjusted Funded Debt and with respect to each business which has ceased to be owned or operated, directly or indirectly, by ▇▇▇ Master LP Obligor (whether by way of disposition of Equity Interests or all or substantially all of the assets of a business as a going concern or discontinuance of operations) in the immediately preceding 12-month period, exclude, without duplication, rental or lease expense of such business as if it had ceased to be owned or operated for the previous full four (4) Fiscal Quarters. (161) (154) “Leased Property” has the meaning given to it in Section 9.1(9). (162) “Leased Property (Lithia Canada Dealer)” has the meaning given to it in Section 9.2(9). (163) (155) “Leased Unit” means New Leased Units and Used Leased Units. (164) (156) “Lenders” mean all of the banks and other financial institutions named on the signature pages of this Agreement, and their permitted successors and assigns, and “Lender” means any one of them, and for greater certainty, includes BNS in its capacity as L/C Issuer. (165) (157) “Letter of Credit” and “L/C” each means a letter of credit issued by the L/C Issuer at the request and for the account of the applicable Borrower and includes a Letter of Guarantee.

L/C Participation shall have the meaning provided in Section 3.3(a). “LCT Election” shall have the meaning provided in Section 1.12(f). “LCT Test Date” shall have the meaning provided in Section 1.12(f).

L/C Participation shall have the meaning provided in Section 3.3(a). "Lender" shall have the meaning provided in the preamble to this Agreement.