LC Disbursement definition

LC Disbursement means a payment made by the Issuing Bank pursuant to a Letter of Credit.

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LC Disbursement means a payment made by an Issuing Lender pursuant to a Letter of Credit issued by it.

LC Disbursement means a payment made by an Issuing Lender pursuant to a Letter of Credit issued by such Issuing Lender.

Examples of LC Disbursement in a sentence

In consideration and in furtherance of the foregoing, each R-1 Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the applicable R-1 Issuing Bank, such R-1 Lender’s Pro Rata Share of each R-1 LC Disbursement made by such R-1 Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason.
Each Swingline Loan shall be in an amount that is an integral multiple of $250,000 and not less than $1,000,000, provided that a Swingline Loan may be in an amount that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.05(e).
In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of such Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed 41 by the Borrower on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason.
The Administrative Agent will make such Loans available to the Borrower by promptly remitting the amounts so received, in like funds, to an account of the Borrower designated by the Borrower in the applicable Borrowing Request; provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(e) shall be remitted by the Administrative Agent to the applicable Issuing Bank.
Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

More Definitions of LC Disbursement

LC Disbursement means a payment made by the Issuing Bank pursuant to a Letter of Credit. All LC Disbursements shall be denominated in (x) with respect to Letters of Credit issued in Dollars, Dollars and (y) with respect to Letters of Credit issued in an Alternative Currency, the applicable Alternative Currency.

LC Disbursement means a Revolving LC Disbursement or an LC Facility LC Disbursement.

LC Disbursement means a payment made by the Issuing Bank pursuant to a demand for payment or drawing under a Letter of Credit.

LC Disbursement means an honoring of a drawing by an Issuing Bank pursuant to a Letter of Credit.

LC Disbursement means a payment made by an Issuing Bank pursuant to a Letter of Credit, including in respect of a time draft presented thereunder; provided that, with respect to any component of any such amount in an LC Alternative Currency under a U.S. Letter of Credit, such amount shall be the Dollar Amount thereof. The date of an LC Disbursement shall be the date of payment by the applicable Issuing Bank under a Letter of Credit or a time draft presented thereunder, as the case may be.

LC Disbursement means any Canadian LC Disbursement or U.S. LC Disbursement.

LC Disbursement means (i) with respect to any Fronted Letter of Credit, a payment made by the Fronted LC Issuing Bank thereof pursuant thereto and (ii) with respect to any Syndicated Letter of Credit, a payment made by a Lender pursuant thereto.