Letter Limit definition
Letter Limit means $60,000,000 (or the U.S. Dollar Equivalent thereof) or such other amount as may be agreed to in writing at any particular time by the Borrower and the Issuing Lender at such time.
Examples of Letter Limit in a sentence
Subject to the terms and conditions hereof, the Lenders hereby establish in favour of the Borrower a revolving term credit facility (the “RT Facility”) in the amount of the RT Credit Limit; provided at no time shall the aggregate amount of credit extended by way of Letters exceed the Letter Limit at such time.