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, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof or to Agent, 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.

Examples of L/C Reimbursement Obligation in a sentence

InWestern Australia, the warranty period begins from the purchase date of the vehicle but kilometres are counted from when the vehicle is put into service as a demonstrator vehicle.
By making any such payment (other than during the continuation of an Event of Default under Section 8.01(f)), such Revolving Lender shall be deemed to have made a Revolving Loan to the Borrowers, which, upon receipt thereof by Administrative Agent for the benefit of such L/C Issuer, the Borrowers shall be deemed to have used in full to repay such L/C Reimbursement Obligation.
The Borrowers agree to pay to L/C Issuer, or to Administrative Agent for the benefit of L/C Issuer, any L/C Reimbursement Obligation owing no later than the first Business Day after Borrower Agent receives notice demanding payment thereof from such L/C Issuer or Administrative Agent (the “L/C Reimbursement Date”).
Notwithstanding the fact that LC Loans are being made to the Borrower, all LC Loans shall be disbursed directly to the LC Issuer for application to the specified LC Reimbursement Obligation on the Borrower’s behalf.
If any L/C Reimbursement Obligation is not repaid by the Borrowers when due (or any payment thereof is rescinded or set aside for any reason), L/C Issuer shall promptly notify Administrative Agent of such failure or rescission (and, upon receipt of such notice, Administrative Agent shall notify each Revolving Lender).

More Definitions of L/C Reimbursement Obligation

L/C Reimbursement Obligation means any Revolving L/C Reimbursement Obligation or any DSR L/C Reimbursement Obligation.

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 is defined in Section 4.6.

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 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 shall have the meaning set forth in the DIP Credit Agreement or the Pre-Petition Credit Agreement (as applicable).

L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrowers to the L/C Issuer thereof or to Agent, as and when matured, to pay all amounts drawn under such Letter of Credit. “L/C Request” as defined in Section 2.1(c)(ii). “L/C Sublimit” as defined in Section 2.1(c)(i)(A). “Lead Arranger” means Capital One, National Association. “Lender” as defined in the preamble hereto. “Lending Office” means, with respect to any Lender, the office or offices of such Lender specified as its “Lending Office” beneath its name on the applicable signature page hereto, or such other office or offices of such Lender as it may from time to time notify the Borrower Representative and Agent. “Letter of Credit” means documentary or standby letters of credit Issued for the account of the Borrowers by L/C Issuers, and bankers’ acceptances issued by a Borrower in connection therewith, for which Agent and Lenders have incurred Letter of Credit Obligations. “Letter of Credit Fee” as defined in Section 2.9(c).