Examples of Letter of Credit Subline in a sentence
If as a result of fluctuations in Spot Rates or otherwise the Dollar Equivalent of the UK LC Obligations exceeds the UK Letter of Credit Subline, the excess amount shall be payable by the UK Borrower within three (3) Business Days following demand by Agent or the UK Issuing Bank.
If as a result of fluctuations in Spot Rates or otherwise the Dollar Equivalent of the Canadian LC Obligations exceeds the Canadian Letter of Credit Subline, the excess amount shall be payable by the Canadian Borrower within three (3) Business Days following demand by Agent or the Canadian Issuing Bank.
Advances under the Revolving Line of Credit Loan will be used only to fund short-term borrowings and working capital needs of the Debtor, with a foreign exchange and Letter of Credit Subline as provided in Section 2.07 hereof.
The judiciary cannot absolve itself of responsibility for the unconscionable amount of time taken to resolve serious criminal charges, the adjournments handed out with reckless abandon (the Special Rapporteur met accused persons who had endured more than 50 adjournments), and the subsequent long-term rotting in prison of thousands charged with capital offences.
The Maximum Revolver Facility Amount shall not be increased by the amount of the Letter of Credit Subline, and the aggregate amount of all Revolver Loans, Agent Advances, Swing Loans and LC Credit Support Obligations outstanding on any date shall not exceed the Maximum Revolver Facility Amount.