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 Restatement Effective Date, the amount of the Letter of Credit Subfacility is $10,000,000.
Letter of Credit Subfacility means $25,000,000.
Letter of Credit Subfacility means $10,000,000.
Examples of Letter of Credit Subfacility in a sentence
Any reduction of the Revolving Credit Facility shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Applicable Revolving Credit Percentage, and upon any resulting reduction of the Letter of Credit Subfacility, the Letter of Credit Sublimit of each L/C Issuer shall be reduced on a pro rata basis.
The Administrative Agent will promptly notify the Revolving Credit Lenders of any such notice of termination or reduction of the Revolving Credit Facility or Letter of Credit Subfacility.
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, 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 $5,000,000.
Letter of Credit Subfacility means $20,000,000.