LC Facility definition

LC Facility means the letter of credit facility established pursuant to Article III.
LC Facility and together with the Credit Facility, the “Debt Facilities”). Immediately following the consummation of the transactions contemplated hereby, the Company will be in compliance in all material respects with the covenants set forth in the Debt Facilities. Immediately following the repayment of any Consideration as required under Section 9.7(b)(iii)(D) of the Credit Facility, the Company will be able to redraw amounts equal to at least such Consideration.
LC Facility means one or more Debt Facilities (including, without limitation, the Letter of Credit Facility) under which letters of credit, surety or performance bonds, bankers’ acceptances or similar instruments may be issued for the benefit of the Company and any Restricted Subsidiary, as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time (and without limitation as to terms, conditions, covenants and other provisions and whether or not with the original administrative agent, banks, institutional lenders, purchasers, investors, trustees or agents).

Examples of LC Facility in a sentence

  • In contrast, the Super Senior LC Facility and the Senior LC Facility are known as “letter of credit facilities” (or “ LC Facilities”).

  • The basic structure is as follows: (1) The Borrower, LFC, can utilise the relevant LC Facility by making a request for one or more of the Issuers to issue letters of credit (up to a defined face value).

  • However the following may provide some recovery to them:(1) Reficar has the benefit of a US$95 million letter of credit issued under the Senior LC Facility (the “ Reficar LC”).

  • Instead the main impact of the Plan on the Secured Plan Creditors is that the maturity dates of the Super Senior LC Facility, the Make-Whole Term Loan Facility, the Senior LC Facility and the Escrow LC Facility will be extended from 30 June 2024 to 30 June 2027.

  • In addition, on 31 December 2020, a number of Group companies entered into an additional financing arrangement known as the Escrow LC Facility Agreement (the “ EFA”).


More Definitions of LC Facility

LC Facility means that certain letter of credit facility agreement, dated as of March 7, 2014, as amended on September 15, 2016, August 12, 2019, September 12, 2019, March 19, 2020 and July 29, 2020, in each case, among the Company, certain financial institutions party thereto from time to time as letter of credit participants and issuers, and Barclays Bank PLC, as administrative agent as amended, restated, or otherwise modified from time to time.
LC Facility means the senior secured letter of credit facility evidenced by this Agreement and described in Section 2.5.
LC Facility means a sub-facility established pursuant to Section 1.13 of this Agreement and described in Annex 2 and shall be considered utilization of the Maximum Facility Amount.
LC Facility means Letter of Credit and Reimbursement Agreement, dated as of December 28, 2016, among Holdings, the other Borrowers, the financial institutions party thereto from time to time as L/C Lenders, and Citibank, N.A., as Administrative Agent and Issuing Bank, as amended.
LC Facility means the subfacility for Letters of Credit established as part of the Commitments pursuant to Section 2.2.