L/C Reimbursement Obligation definition

L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.
L/C Reimbursement Obligation means a US L/C Reimbursement Obligation or a Canadian L/C Reimbursement Obligation.
L/C Reimbursement Obligation means any Revolving L/C Reimbursement Obligation or any DSR L/C Reimbursement Obligation.

Examples of L/C Reimbursement Obligation in a sentence

  • The Borrower agrees to pay to the L/C Issuer of any Letter of Credit, or to the Revolver Agent for the benefit of such L/C Issuer, each L/C Reimbursement Obligation owing with respect to such Letter of Credit no later than the first Business Day after the Borrower receives notice from such L/C Issuer that payment has been made under such Letter of Credit or that such L/C Reimbursement Obligation is otherwise due (the “L/C Reimbursement Date”) with interest thereon computed as set forth in clause (A) below.


More Definitions of L/C Reimbursement Obligation

L/C Reimbursement Obligation means the Borrower’s obligation to repay L/C Disbursements as provided in Sections 2.04(e) and (f).
L/C Reimbursement Obligation is defined in Section 4.6.
L/C Reimbursement Obligation for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof or to Administrative Agent, as and when matured, to pay all amounts drawn under such Letter of Credit. For example, the aggregate amount of L/C Reimbursement Obligations with respect to an undrawn $100 Letter of Credit would be equal to $100.
L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrowers to the L/C Issuer thereof or to Administrative Agent, as and when matured, to pay all amounts drawn under such Letter of Credit.
L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the LC Facility Lender(s) that Issued (or caused the Issuance) of such Letter of Credit or to Agent, as and when matured, to pay all amounts drawn under such Letter of Credit, together with any taxes, fees, charges or other costs or expenses incurred by such LC Facility Lender including, for the avoidance of doubt, any such amounts paid or payable by such LC Facility Lender pursuant to the L/C Side Letter to the extent not otherwise paid directly by the Borrower thereunder or for which such LC Facility Lender previously received reimbursement from the Borrower.
L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the U.S. Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit. “L/C Request” has the meaning specified in Section 2.4(b). “L/C Sublimit” means $7,500,000. “LCA Election” has the meaning specified in Section 1.3(c). “LCA Test Date” has the meaning specified in Section 1.3(c). “Lead Arranger” means Ares Capital. “Lender” means, collectively, the Swingline Lender and any other financial institution or other Person that (a) is listed on the signature pages hereofto the Fourth Amendment as a “Lender” or (b) from time to time becomes a party hereto by execution of an Assignment or pursuant to an Incremental Amendment, in each case for so long as such Person holds a Loan or Commitment hereunder. Notwithstanding the foregoing, no Disqualified Lender that purports to become a Lender hereunder in violation of the proviso to Section 11.2(b) shall be entitled to any of the rights or privileges enjoyed by the other Lenders (including with respect to voting, information and lender meetings) and shall be deemed for all purposes to be a Defaulting Lender, until such time as such Disqualified Lender no longer owns any Loans or Commitments. “Xxx Acquisition” means the acquisition of 100% of the equity interests of Fresh Insurance Services Group Limited by Vantage Holdings Limited. “Letter of Credit” means any letter of credit Issued (or deemed Issued) pursuant to Section 2.4. “Liabilities” means all claims, actions, suits, judgments, damages, losses, liability, fines, penalties, sanctions, commissions, and related reasonable and documented out-of-pocket costs and expenses, in each case of any kind or nature (including interest accrued thereon or as a result thereof and reasonable out-of-pocket fees, charges and disbursements of legal counsel and financial and other 38 [[5286738]]
L/C Reimbursement Obligation means the obligation of a Borrower to reimburse an Overdraft and L/C Lender under Section 6.4 for amounts drawn under Letters of Credit and expenses of the Overdraft and L/C Lender in connection therewith;