LC Bank definition

LC Bank has the meaning set forth in the preamble to this Agreement.

LC Bank means the Initial XX Xxxxx or any other Lender approved by the Borrower and the Administrative Agent that may agree to issue Letters of Credit pursuant to an agreement in form satisfactory to the Borrower and the Administrative Agent, so long as such Lender expressly agrees to perform in accordance with their terms all of the obligations that by the terms of this Agreement are required to be performed by it as an LC Bank and notifies the Administrative Agent of its applicable lending office (which information shall be recorded by the Administrative Agent in the Register), for so long as such Initial LC Bank or Lender, as the case may be, shall have a Letter of Credit Commitment.

LC Bank shall have the meaning set forth in Section 3.1(c).

Examples of LC Bank in a sentence

• In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the LC Bank shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth.

• It is understood and agreed that, except in the case of gross negligence or willful misconduct by the LC Bank, the LC Bank shall not be liable for any error, negligence and/or mistakes, whether of omission or commission, in following the Seller’s instructions or those contained in the Letters of Credit or any modifications, amendments or supplements thereto.

• Nothing in the preceding sentence shall relieve the LC Bank from liability for its gross negligence or willful misconduct, as determined by a final non-appealable judgment of a court of competent jurisdiction, in connection with actions or omissions described in such clauses (i) through (viii) of such sentence.

• Any notice given by the LC Bank pursuant to this Section may be oral if promptly confirmed in writing; provided that the lack of such a prompt written confirmation shall not affect the conclusiveness or binding effect of such oral notice.

• Except as otherwise provided in Section 4.1(d), neither the Seller nor the Servicer may assign or transfer any of its rights or delegate any of its duties hereunder or under any Transaction Document without the prior consent of the Administrator, the LC Bank, the Required LC Participants and the Purchaser Agents.

More Definitions of LC Bank

LC Bank means such Lender as is designated as the LC Bank for any Letter of Credit by written notice to the Agent from such Lender and the Borrower, in such Bank's capacity as LC Bank under the letter of credit facility described in Section 2.05, and its successors in such capacity.

LC Bank has the meaning set forth in the preamble in this Agreement. If the context so requires, the LC Bank with respect to any Letter of Credit shall be deemed to mean the LC Bank that issued such Letter of Credit.

LC Bank shall be defined as in the recitals hereto.

LC Bank has the meaning set forth in the preamble.

LC Bank. USBNA, in its capacity as the issuer of Letters of Credit, or, from time to time, such successor Bank approved by the Agent that issues the Letters of Credit, in its capacity as such issuer.

LC Bank shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

LC Bank means PNC and each other Person that is or becomes a party to this Agreement in the capacity of an “LC Bank”.