Examples of LC Sublimit in a sentence
Any termination of the Revolving Credit Commitments below the L/C Sublimit or the Swing Line Sublimit then in effect shall reduce the L/C Sublimit or the Swing Line Sublimit, as applicable, by a like amount.
Any termination of the Revolving Credit Commitments below the L/C Sublimit then in effect shall reduce the L/C Sublimit by a like amount.
The aggregate face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit), plus any Letter of Credit Reserves, under this Agreement may not exceed $7,000,000, subject to the Combined LC Sublimit set forth in Section 2.1.5(a).
A permanent reduction of the Aggregate Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit or the Swingline Commitment; provided that the L/C Sublimit and/or the Swingline Commitment, as applicable, shall be permanently reduced by the amount thereof in excess of the Aggregate Revolving Loan Commitment.
Subject to the terms and conditions hereof, as part of the Revolving Credit, each Borrower may request from the L/C Issuer standby and commercial letters of credit (each a “Letter of Credit”) for the account of each Borrower or for the account of a Borrower and one or more of its Subsidiaries in U.S. Dollars or Canadian Dollars in the U.S. Dollar Equivalent of an aggregate undrawn face amount up to the L/C Sublimit.