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
The Borrower may request the issuance by any Issuing Bank of a Letter of Credit in Dollars or an Alternative Currency for its own account or for the account of any of its Subsidiaries (in which case, the Borrower and such Subsidiary shall be co-applicants with respect to such Letter of Credit), in a form reasonably acceptable to the Administrative Agent and the relevant Issuing Bank, at any time and from time to time while the L/C Commitment remains in effect as set forth in Section 2.10(c).
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.