LC Fronting Bank Commitment definition

LC Fronting Bank Commitment means, with respect to any Fronting Bank, the aggregate stated amount of all Letters of Credit that such Fronting Bank agrees to issue, as modified from time to time pursuant to agreement among such Fronting Bank, the Borrower and the Agent. With respect to each person that is a Fronting Bank on the date hereof, such Fronting Bank’s LC Fronting Bank Commitment shall equal such Fronting Bank’s “LC Fronting Bank Commitment” listed on Schedule 2.17(i) (as modified from time to time in a written agreement between such LC Fronting Bank and the Borrower) and, with respect to any person that becomes a Fronting Bank after the date hereof, such person’s LC Fronting Bank Commitment shall equal the amount agreed upon between the Borrower and such person at the time such person becomes a Fronting Bank.

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LC Fronting Bank Commitment means, with respect to any Fronting Bank, the aggregate stated amount of all Letters of Credit that such Fronting Bank agrees to issue, as modified from time to time pursuant to agreement among such Fronting Bank, the Borrower and the Agent. With respect to (i) any Fronting Bank that is the issuer of an Existing Letter of Credit as of the date hereof, such Fronting Bank’s LC Fronting Bank Commitment shall equal the Stated Amount of the Existing Letters of Credit (as modified from time to time in a written agreement between such Fronting Bank and the Borrower; provided that written notice of such agreement and the amount of such Fronting Bank’s LC Fronting Commitment shall have been delivered to the Agent) and (ii) any Person that becomes a Fronting Bank after the date hereof, such Person’s LC Fronting Bank Commitment shall equal the amount agreed upon between the Borrower and such Person at the time such Person becomes a Fronting Bank; provided that written notice of such agreement and the amount of such Fronting Bank’s LC Fronting Commitment shall have been delivered to the Agent. For the avoidance of doubt, the LC Fronting Bank Commitment of any Fronting Bank that is the issuer of an Existing Letter of Credit shall be automatically reduced by amounts corresponding to reductions in the Stated Amount of such Existing Letter of Credit (including reductions from the expiration or termination of any Existing Letter of Credit).

LC Fronting Bank Commitment means, with respect to any Fronting Bank, the aggregate of such Fronting Bank's Tranche A LC Fronting Bank Commitment, Tranche B LC Fronting Bank Commitment and Tranche C LC Fronting Bank Commitment. With respect to each person that is a Fronting Bank on the date hereof, such Fronting Bank's LC Fronting Bank Commitment shall equal such Fronting Bank's "LC Fronting Bank Commitment" listed on Schedule 2.17(i) and, with respect to any person that becomes a Fronting Bank after the date hereof, such person's LC Fronting Bank Commitment shall equal the amount agreed upon between the Borrower and such person at the time such person becomes a Fronting Bank.

Examples of LC Fronting Bank Commitment in a sentence

• Subject to the foregoing, any reduction of the Commitments to an amount below $100,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

• Subject to the foregoing, any reduction of the Commitments to an amount below $200,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

• Subject to the foregoing, any reduction of the Commitments to an amount below $700,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

• Subject to the foregoing, any reduction of the Commitments to an amount below $150,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

• If any Lender becomes a Fronting Bank after the date hereof (an “Additional Fronting Bank”), the L/C Fronting Bank Commitments of the Initial Fronting Banks shall be reduced by an aggregate amount equal to such Additional Fronting Bank’s L/C Fronting Bank Commitment, with such reduction to be allocated among the Initial Fronting Banks ratably in accordance with each Initial Fronting Bank’s respective L/C Fronting Bank Commitment on the date of such reduction.

• Subject to the foregoing, any reduction of the Commitments to an amount below $225,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

• Subject to the foregoing, any reduction of the Commitments to an amount below $35,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

• Subject to the foregoing, any reduction of the Commitments to an 744222473 amount below $100,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount).

More Definitions of LC Fronting Bank Commitment

LC Fronting Bank Commitment means, with respect to any Fronting Bank, the aggregate Stated Amount of all Letters of Credit that such Fronting Bank agrees to issue, as modified from time to time pursuant to agreement among such Fronting Bank, the Borrower and the Agent. With respect to any Person that becomes a Fronting Bank after the date hereof, such Person’s LC Fronting Bank Commitment shall equal the amount agreed upon between the Borrower and such Person at the time such Person becomes a Fronting Bank; provided that written notice of such agreement and the amount of such Fronting Bank’s LC Fronting Commitment shall have been delivered to the Agent.

LC Fronting Bank Commitment means, with respect to any Fronting Bank, the aggregate stated amount of all Letters of Credit that such Fronting Bank agrees to issue hereunder, as modified from time to time pursuant to agreement among such Fronting Bank, the Borrowers and the Agent. As of the date of this Agreement, the LC Fronting Bank Commitment of JPMorgan Chase is $250,000,000.

LC Fronting Bank Commitment means, with respect to any Fronting Bank, the aggregate stated amount of all Letters of Credit that such Fronting Bank agrees to issue, as modified from time to time pursuant to agreement among such Fronting Bank, the Borrower and the Agent. With respect to (i) any Fronting Bank that is the issuer of an Existing Letter of Credit as of the date hereof, such Fronting Bank’s LC Fronting Bank Commitment shall equal the Stated Amount of the Existing Letters of Credit (as modified from time to time in a written agreement between such Fronting Bank and the Borrower; provided that written notice of such agreement and the amount of such Fronting Bank’s LC Fronting Commitment shall have been delivered to the Agent) and (ii) any Person that becomes a Fronting Bank after the date hereof, such Person’s LC Fronting Bank Commitment shall equal the amount agreed upon between the Borrower and such Person at the time such Person becomes a Fronting Bank; provided that written notice of such agreement and the amount of such Fronting Bank’s LC Fronting Commitment shall have

LC Fronting Bank Commitment means $500,000,000.