LC Loan definition

LC Loan means a loan by a Working Capital Lender to the Borrower deemed made pursuant to Section 3.02(c) and Section 3.02(f) (Reimbursement to Issuing Banks).

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LC Loan is defined in Section 2.6.2(b).

LC Loan means a loan by a Senior Lender to the Borrower deemed made pursuant to Section 3.03(c) and 3.03(f) (Reimbursement to Senior Issuing Banks) in connection with a draw upon any Letter of Credit.

Examples of LC Loan in a sentence

All such payments by the Revolving Lenders in respect of any one such payment by such Issuing Bank shall constitute a single LC Loan hereunder.
The Borrower unconditionally and irrevocably promises to pay to the Revolving Facility Agent for the ratable account of each Revolving Lender the aggregate outstanding principal amount of each LC Loan no later than 5:00 p.m., New York City time, on the LC Loan Termination Date.
If such LC Loan relates to a Fronted Letter of Credit, the Revolving Facility Agent shall promptly notify each of the Revolving Lenders of the amount of its share of the payment made under such Fronted Letter of Credit, which shall be such Revolving Lender’s Commitment Percentage of such amount paid by such Issuing Bank (the “Revolving Lender Payment Notice”).
Each payment made by an Issuing Bank in respect of a Non-Fronted Letter of Credit that is not reimbursed by the Borrower or that is converted into an LC Loan by notice from the Borrower pursuant to clause (c) above shall constitute an LC Loan deemed made by such Issuing Bank in its capacity as a Revolving Lender.
In the case of any Non-Fronted Letters of Credit issued with respect to a specific Non-Fronted LC Amount, the Borrower may not elect to make an LC Reimbursement Payment and/or convert a reimbursement obligation into a LC Loan for some but not all the Issuing Banks providing Non-Fronted Letters of Credit with respect to such Non-Fronted LC Amount.

More Definitions of LC Loan

LC Loan shall have the meaning set forth in Section 2.02(c)(ii) of the Agreement.

LC Loan has the meaning assigned to such term in Section 2.2(c)(ii) of the Financing Agreement.

LC Loan has the meaning set forth in Section 3.25(f).

LC Loan means each and any O&M Reserve LC Loan, Debt Service Reserve LC Loan, Hedge LC Loan and Working Capital LC Loan.

LC Loan means the Loans in respect of Letters of Credit specified in Section 2.4(c)(ii) or, as the context may require, their principal amount from time to time outstanding, whether outstanding as a Base Rate Loan or SOFR Loan or otherwise (each of which is a Type of Loan hereunder).

LC Loan has the meaning given in Section 2.2.3.

LC Loan means the “Revolving LC Loan” under the CD Credit Agreement or the meaning given to such term in any Senior Secured Debt Instrument governing Working Capital Debt entered into from time to time.