LC Commitment definition
LC Commitment means that portion of the Aggregate Revolving Commitments that may be used by the Borrower for the issuance of Letters of Credit in an aggregate face amount not to exceed $10,000,000.
LC Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.18.
LC Commitment means, as to each Issuing Bank, the commitment of such Issuing Bank to issue Letters of Credit pursuant to Section 2.05. The initial amount of each Issuing Bank’s LC Commitment is set forth on Schedule 2.05 or in such Issuing Bank’s Issuing Bank Agreement.
Examples of LC Commitment in a sentence
Any such reduction in the Aggregate Revolving Commitment Amount below the principal amount of the LC Commitment shall result in a dollar-for-dollar reduction in the LC Commitment.
More Definitions of LC Commitment
LC Commitment means the commitment of an Issuing Bank to issue Letters of Credit pursuant to Section 2.17; provided that at no time shall the LC Commitment exceed the Revolving Commitment. The amount of the LC Commitment shall be $20,000,000 on the Closing Date.
LC Commitment means that portion of the Aggregate Revolving Commitments that may be used by the Borrower for the issuance of Letters of Credit in an aggregate face amount not to exceed $50,000,000.
LC Commitment means, as to any Issuing Bank, the maximum permitted amount of the LC Exposure that may be attributable to Letters of Credit issued by such Issuing Bank. The initial amount of each Issuing Bank’s LC Commitment is set forth on Schedule 2.01 or in such Issuing Bank’s Issuing Bank Agreement.
LC Commitment at any time means $50,000,000.
LC Commitment means $5,000,000.
LC Commitment at any time means twenty-five million dollars ($25,000,000).
LC Commitment means as to any LC Issuing Bank (i) the amount set forth opposite such LC Issuing Bank’s name on Schedule 1 hereof or (ii) if such LC Issuing Bank has entered into an Assignment and Assumption, the amount set forth for such LC Issuing Bank as its LC Commitment in the Register maintained by the Administrative Agent pursuant to Section 7.13.2.