L/C Sublimit definition
L/C Sublimit has the meaning ascribed to it in Annex B.
L/C Sublimit means an amount equal to the lesser of (a) $50.0 million and (b) the aggregate amount of the Revolving Commitments. The L/C Sublimit is part of, and not in addition to, the Revolving Facility.
L/C Sublimit has the meaning provided in Section 2.01(b).
Examples of L/C Sublimit in a sentence
If on any date the L/C Obligations exceed the L/C Sublimit or the L/C Obligations owing to the relevant Issuing Bank would exceed such Issuing Bank’s Individual L/C Sublimit, then, in either case, the Borrower shall within three Business Days after notice thereof from the Administrative Agent deposit in a cash collateral account opened by the Administrative Agent an amount in Dollars equal to such excess plus accrued and unpaid interest thereon.
Except as provided above, the amount of any such Commitment reduction shall not be applied to the L/C Sublimit unless otherwise specified by the Borrower.
More Definitions of L/C Sublimit
L/C Sublimit means an amount equal to Twenty-Five Million Dollars ($25,000,000). The L/C Sublimit is part of, and not in addition to, the Aggregate Commitments.
L/C Sublimit means $20,000,000, as reduced pursuant to the terms hereof.
L/C Sublimit means $10,000,000, as reduced pursuant to the terms hereof.
L/C Sublimit means $5,000,000, as reduced pursuant to the terms hereof.
L/C Sublimit means the lesser of (a) $20,000,000 and (b) the Revolving Credit Commitment. The L/C Sublimit is a part of, and not in addition to, the Revolving Credit Commitment.
L/C Sublimit means $50,000,000.
L/C Sublimit means up to $30,000,000 in aggregate amount of Letters of Credit that may be issued under the Revolving Credit Facility.