Letter of Credit Related Person has the meaning specified therefor in Section 2.11(f) of the Agreement.
Letter of Credit Related Person has the meaning specified in Section 2.03(f).
Letter of Credit Related Person shall have the meaning provided in Section 3.01(f). “Letter of Credit Usage” means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit, plus (b) the aggregate amount of outstanding reimbursement obligations with respect to Letters of Credit which remain unreimbursed or which have not been paid through a Revolving Loan. “Lien” shall mean any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), preference, priority or other security agreement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any financing or similar statement or notice filed under the UCC or any other similar recording or notice statute, the interest of a lessor under a Finance Lease and any synthetic or other financing lease having substantially the same effect as any of the foregoing). “Loan” shall mean each Revolving Loan and each Swingline Loan. “Loan Account” shall have the meaning provided in Section 2.18. “Major Scheduled Turnaround” shall mean with respect to the Coffeyville Refinery, the Wynnewood Refinery or any other refinery that may be acquired in accordance with the terms of this Agreement, a scheduled shutdown of refinery process units primarily for purposes of conducting maintenance of at least fifteen (15) consecutive days, which shutdown shall occur no more than three times with respect to each such refinery prior to the Initial Revolving Commitment Termination Date. “Major Scheduled Turnaround Expenses” shall mean expenses which have been incurred by the Credit Parties and/or their Subsidiaries to complete a Major Scheduled Turnaround but only to the extent such amounts are included in determining Consolidated Net Income for the respective period. “Management Agreements” shall have the meaning provided in Section 6.05(b). “Mandatory Borrowing” shall have the meaning provided in Section 2.01(c). “Margin Stock” shall have the meaning provided in Regulation U. “Market Value (RIN)” shall mean, as of any date of determination, with respect to an Eligible RIN on any date of determination, the average of the “ARGUS High” and the “ARGUS Low” published quote (or other quotation service or market reasonably satisfactory to the Administrative Agent or identified on
Examples of Letter of Credit Related Person in a sentence
Borrowers shall take action to avoid and mitigate the amount of any damages claimed against Issuing Bank or any other Letter of Credit Related Person, including by enforcing its rights against the beneficiaries of the Letters of Credit.
Borrowers hereby agree to pay the Letter of Credit Related Person claiming indemnity on demand from time to time all amounts owing under this Section 2.11(f).
Borrowers’ aggregate remedies against Issuing Bank and any Letter of Credit Related Person for wrongfully honoring a presentation under any Letter of Credit or wrongfully retaining honored Drawing Documents shall in no event exceed the aggregate amount paid by Borrowers to Issuing Bank in respect of the honored presentation in connection with such Letter of Credit under Section 2.11(d), plus interest at the rate then applicable to Base Rate Loans hereunder.
Borrower hereby agrees to pay the Letter of Credit Related Person claiming indemnity on demand from time to time all amounts owing under this Section 2.12(c).
Borrower shall take action to avoid and mitigate the amount of any damages claimed against Issuing Bank or any other Letter of Credit Related Person, including by enforcing its rights against the beneficiaries of the Letters of Credit.
More Definitions of Letter of Credit Related Person
Letter of Credit Related Person has the meaning specified therefor in Section 2.11(f) of this Agreement. “Letter of Credit Sublimit” means $15,000,000. “Letter of Credit Usage” means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit, plus (b) the aggregate amount of outstanding reimbursement obligations with respect to Letters of Credit which remain unreimbursed or which have not been paid through a Revolving Loan. “LIBOR Deadline” has the meaning specified therefor in Section 2.12(b)(i) of this Agreement. “LIBOR Notice” means a written notice in the form of Exhibit L-1 to this Agreement. “LIBOR Option” has the meaning specified therefor in Section 2.12(a) of this Agreement. “LIBOR Rate” means the rate per annum as published by ICE Benchmark Administration Limited (or any successor page or other commercially available source as the Agent may designate from time to time) as of 11:00 a.m., London time, two Business Days prior to the commencement of the requested Interest Period, for a term, and in an amount, comparable to the Interest Period and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of a LIBOR Rate Loan or as a conversion of a Base Rate Loan to a LIBOR Rate Loan) by Borrowers in accordance with this Agreement (and, if any such published rate is below zero, then the LIBOR Rate shall be deemed to be zero). Each determination of the LIBOR Rate shall be made by the Agent and shall be conclusive in the absence of manifest error. “LIBOR Rate Loan” means each portion of a Revolving Loan or the Term Loan that bears interest at a rate determined by reference to the LIBOR Rate. “LIBOR Rate Margin” means the Revolving Loan LIBOR Rate Margin or the Term Loan LIBOR Rate Margin, as applicable. “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, charge, deposit arrangement, encumbrance, easement, lien (statutory or other), security interest, or other security arrangement and any other preference, priority, or preferential arrangement of any kind or nature whatsoever, including any conditional sale contract or other title retention agreement, the interest of a lessor under a Capital Lease and any synthetic or other financing lease having substantially the same economic effect as any of the foregoing. 35 125672876_9
Letter of Credit Related Person shall have the meaning assigned to such term in Section 2.05(d)(i).
Letter of Credit Related Person as defined in subsection 3.1(f).
Letter of Credit Related Person. (to the fullest extent permitted by law) from and against any and all claims, demands, suits, actions, investigations, proceedings, liabilities, fines, costs, penalties, and special, indirect, and punitive damages, and all reasonable fees and disbursements of attorneys, experts, or consultants and all other costs and expenses actually incurred in connection therewith or in connection with the enforcement of this indemnification (as and when they are incurred and irrespective of whether suit is brought), which may be incurred by or awarded against any Letter of Credit Related Person (other than Taxes, which shall be governed by Section 2.17) (the “Letter of Credit Indemnified Costs”), and which arise out of or in connection with, or as a result of this Agreement, any Letter of Credit, any issuer or drawing document referred to in or related to any Letter of Credit, or any action or proceeding arising out of any of the foregoing (whether administrative, judicial or in connection with arbitration); in each case, including that resulting from the Letter of Credit Related Person’s own negligence; provided, that such indemnity shall not be available to any Letter of Credit Related Person claiming indemnification to the extent that such Letter of Credit Indemnified Costs may be finally determined in a final, non-appealable judgment of a court of competent jurisdiction to have resulted directly from the gross negligence or willful misconduct of the Letter of Credit Related Person claiming indemnity. This indemnification provision shall survive termination of this Agreement and all Letters of Credit.
Letter of Credit Related Person has the meaning specified in Section 2.03(f). “Letter of Credit Sublimit” means an amount equal to $10,000,000.20,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate ABL Commitments. A permanent reduction of the Aggregate ABL Commitments shall not require a corresponding pro rata reduction in the Letter of Credit Sublimit; provided, however, that if the Aggregate ABL Commitments are reduced to an amount less than the Letter of Credit Sublimit, then the Letter of Credit Sublimit shall be reduced to an amount equal to (or, at Lead Borrower’s option, less than) the Aggregate ABL Commitments. “LIBO Borrowing” means a Borrowing comprised of LIBO Rate Loans. “LIBO Rate” means the greater of (a) three-quarters percent (0.75%) per annum or (b) the rate per annum as published by ICE Benchmark Administration Limited (or any successor page or other commercially available source as the Agent may designate from time to time) as of 11:00 a.m., London time, two (2) Business Days prior to the commencement of the requested Interest Period, for a term, and in an amount, comparable to the Interest Period and the amount of the LIBO Rate Loan requested (whether as an initial LIBO Rate Loan or as a continuation of a LIBO Rate Loan or as a conversion of a Base Rate Loan to a LIBO Rate Loan) by Borrowers in accordance with this Agreement (and, if any such published rate is below zerothree-quarters percent (0.75%), then the rate determined pursuant to this definition shall be deemed to be zerothree-quarters percent (0.75%)). Each determination of the LIBO Rate shall be made by the Agent and shall be conclusive in the absence of manifest error. “LIBO Rate Loan” means a Committed Loan that bears interest at a rate based on the Adjusted LIBO Rate. - 37- 6245414.1
Letter of Credit Related Person has the meaning specified therefor in Section 3.01 of the Agreement.
Letter of Credit Related Person has the meaning specified therefor in Section 2.11(f) of this Agreement. “Letter of Credit Sublimit” means $20,000,000. “Letter of Credit Usage” means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit, plus (b) the aggregate amount of outstanding reimbursement obligations with respect to Letters of Credit which remain unreimbursed or which have not been paid through a Revolving Loan. “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, charge, deposit arrangement, encumbrance, easement, lien (statutory or other), security interest, or other security arrangement and any other preference, priority, or preferential arrangement of any kind or nature whatsoever, including any conditional sale contract or other title retention agreement, the interest of a lessor under a Capital Lease and any synthetic or other financing lease having substantially the same economic effect as any of the foregoing. “Line Cap” means, as of any date of determination, the lesser of (a) the Maximum Revolver Amount and (b) the Borrowing Base as of such date of determination. “Liquidity” means, as of any date of determination, the amount equal to the sum of (i) Excess Availability plus (ii) Qualified Cash, provided, that, in no event shall the amount of Qualified Cash included in the foregoing exceed 10% of the Line Cap as of any date of determination. “Loan” means any Revolving Loan, Swing Loan, Extraordinary Advance made (or to be made) hereunder. “Loan Account” has the meaning specified therefor in Section 2.9 of this Agreement. “Loan Documents” means this Agreement, the Control Agreements, any Borrowing Base Certificate, the Fee Letter, the Guaranty and Security Agreement, any Issuer Documents, the Letters of Credit, the Loan Manager Side Letter, any note or notes executed by Borrowers in connection with this Agreement and payable to any member of the Lender Group, and any other instrument or agreement entered into, now or in the future, by any Loan Party or any of its Restricted Subsidiaries and any member of the Lender Group in connection with this Agreement (but specifically excluding Bank Product Agreements). “Loan Manager Side Letter” means that certain letter agreement between the Borrowers and Xxxxx Fargo regarding the terms under which Xxxxx Fargo will provide services to the Borrowers in respect of Xxxxx Fargo’s proprietary automated loan management program.