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”).