LC Cap definition

LC Cap means, with respect to each Plant, two million Dollars ($2,000,000).
LC Cap means at any time an amount equal to $30,000,000, minus (x) the aggregate face amount of all letters of credit outstanding at such time in reliance on Section 2.25 and/or Section 6.04(xx) and (y) the amount of cash, Cash Equivalents and cash and Cash Equivalents in accounts at such time subject to Liens permitted in reliance on the L/C Cap pursuant to Section 6.01(xxx).
LC Cap an amount equal to $7,000,000.”

Examples of LC Cap in a sentence

  • If on any date the Effective Amount of L/C Obligations exceeds the L/C Cap, the Borrower shall Cash Collateralize on such date the outstanding Letters of Credit in an amount equal to the excess above any such cap.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable Borrower and Parent shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the LC Cap set forth in paragraph (a) above is not exceeded.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable Borrower and the Parent shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the LC Cap set forth in paragraph (a) above is not exceeded with respect to such Tranche.

  • The Borrower shall not permit outstanding SPT-Related Standby Letters of Credit (excluding all Physical Trade Delivery-Related Standby Letters of Credit) plus the aggregate SPT Bank Close-Out Amounts of all SPT Banks plus the aggregate outstanding Unilateral Overage Advances of all Banks to exceed the SPT-Related L/C Cap.

  • No SPT-Related Standby Letter of Credit shall be Issued if, after giving effect to such Issuance, the outstanding amounts of all SPT-Related Standby Letters of Credit (excluding all Physical Trade Delivery-Related Standby Letters of Credit) plus the aggregate SPT Bank Close-Out Amounts of all SPT Banks plus the aggregate outstanding Unilateral Overage Advances of all Banks would exceed the SPT-Related L/C Cap.


More Definitions of LC Cap

LC Cap means three million Dollars ($3,000,000).
LC Cap has the meaning set forth in Section 2.4(b)(iii).
LC Cap means the cap upon L/C Obligations with respect to all Letters of Credit which shall be an amount equal to$70,000,000.”
LC Cap means, with respect to any Issuing Bank, the maximum amount of the commitment of such Issuing Bank to issue Letters of Credit hereunder, which shall be (i) in the case of JPMorgan, $34,000,000; (ii) in the case of each of Xxxxx Fargo Bank, N.A. and U.S. Bank, N.A., $33,000,000; (iii) in the case of any other Issuing Bank, the amount agreed between the Borrower and such Issuing Bank at the time it becomes an Issuing Bank; and (iv) in any case, such other amount as such Issuing Bank and the Borrower may agree in writing from time to time.
LC Cap means at any time an amount equal to $30.0 million, minus (x) the aggregate face amount of all letters of credit outstanding at such time in reliance on clause (3)(a) of the definition ofPermitted Indebtedness” and (y) the amount of cash and Cash Equivalents and cash and Cash Equivalents in accounts at such time subject to Liens in reliance on the L/C Cap pursuant to clause (10) (c) of the definition of “Permitted Liens.”
LC Cap means at any time an amount equal to $30,000,000, minus the aggregate face amount of all letters of credit outstanding in reliance on Section 2.25 and/or Section 6.04(xx).
LC Cap means two million five hundred thousand Dollars ($2,500,000).