Letter of Credit Subfacility definition

Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

Letter of Credit Subfacility means $10,000,000.

Letter of Credit Subfacility means $25,000,000.

Examples of Letter of Credit Subfacility in a sentence

• As of the Business Day immediately preceding the requested issuance date of the Letter of Credit, the Agent shall determine the amount of the applicable Unused Letter of Credit Subfacility and Availability.

• As of the Business Day immediately preceding the requested issuance date of each Letter of Credit, the Agent shall determine the amount of the Unused Letter of Credit Subfacility and the then-current Availability as of such date.

• If (i) the face amount of the requested Letter of Credit is less than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from the Borrower in connection with the opening thereof would not exceed Availability, the Agent shall cause the Letter of Credit Issuer to issue the requested Letter of Credit on the requested issuance date so long as the other conditions hereof are met.

• They must ensure that they are acting impartially by being aware of and mitigating their personal biases, basing decisions on objective criteria, and maintaining awareness and adherence to established policies, procedures, contractual obligations, and legislative requirements.5.2Employees must not act in self-interest or further their private interests by virtue of their position or through carrying out their duties.

• As of the Business Day immediately preceding the requested issuance date of the Letter of Credit, Agent shall determine the amount of the applicable Unused Letter of Credit Subfacility and Availability.

More Definitions of Letter of Credit Subfacility

Letter of Credit Subfacility means $15,000,000.

Letter of Credit Subfacility means $400,000,000.

Letter of Credit Subfacility means $3,000,000.

Letter of Credit Subfacility means $300,000,000.

Letter of Credit Subfacility means $5,000,000.

Letter of Credit Subfacility means a subfacility for the issuance of Letters of Credit, as described in and subject to the limitations of Section 2.4.

Letter of Credit Subfacility means $20,000,000.