Letter of Credit Facility definition

Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.
Letter of Credit Facility means the facility described in Article III hereof providing for the issuance by the Issuing Bank for the account of the Borrower of Letters of Credit in an aggregate stated amount at any time outstanding not exceeding the Total Letter of Credit Commitment.
Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

Examples of Letter of Credit Facility in a sentence

  • Within the limits of the Letter of Credit Facility, and subject to the limits referred to herein, the Borrower Representative, on behalf of a Borrower, may request the issuance of Letters of Credit under this Section, repay any LC Disbursements resulting from drawings under Letters of Credit pursuant to Section 2.4(f) and request the issuance of additional Letters of Credit under Section 2.4(c).

  • Such Letter of Credit fees shall be due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Facility Expiration Date and thereafter on demand.


More Definitions of Letter of Credit Facility

Letter of Credit Facility means the facility established pursuant to Section 2.2 (Letter of Credit Facility).
Letter of Credit Facility means, at any time, an amount equal to the least of (a) the aggregate amount of the Issuing Banks' Letter of Credit Commitments at such time, (b) $200,000,000 and (c) the aggregate amount of the Revolving Credit Commitments, as such amount may be reduced at or prior to such time pursuant to Section 2.06.
Letter of Credit Facility has the meaning specified in Section 2.15(a) hereof.
Letter of Credit Facility means, at any time, an amount equal to the lesser of (a) $2,000,000,000 and (b) the aggregate amount of the Commitments, as such amount may be reduced pursuant to Section 2.4, Section 2.9 or Section 2.20 or increased pursuant to Section 2.20.
Letter of Credit Facility means an aggregate amount not to exceed $250,000,000 at any time outstanding.
Letter of Credit Facility means the credit facility available to Borrower pursuant to Section 2.3 hereof pursuant to which U.S. Bank has issued the direct pay Letter of Credit to the Trustee.
Letter of Credit Facility means the credit facility described as such in Section 2.