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 IssuersLetter 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 $15,000,000.

Examples of Letter of Credit Subfacility in a sentence

  • 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.


More Definitions of Letter of Credit Subfacility

Letter of Credit Subfacility means $25,000,000.
Letter of Credit Subfacility means $300,000,000.
Letter of Credit Subfacility means $20,000,000.
Letter of Credit Subfacility means $5,000,000.
Letter of Credit Subfacility means $50,000,000.
Letter of Credit Subfacility means the aggregate Available Amounts of Letters of Credit the Issuing Banks may issue pursuant to Section 2.10, which shall not exceed U.S. $50,000,000.
Letter of Credit Subfacility means the commitment of the Agent Bank, to issue Letters of Credit for the account of the Borrower or a Subsidiary of the Borrower up to an aggregate amount at any one time outstanding of Fifteen Million Dollars ($15,000,000). The Letter of Credit Subfacility is a sublimit of the Revolving Credit Facility.