LOC Amount definition

LOC Amount means the aggregate issued and outstanding face amount of the Letter of Credit at any time and from time to time, including any adjustment pursuant to Section 2.01, but excluding, for the avoidance of doubt, any amounts drawn thereon for which such face amount is not reduced.

LOC Amount shall have the meaning as set forth in Section 5.4.2.1.

LOC Amount. As defined in Section 42.7.

Examples of LOC Amount in a sentence

• Any Optional LOC Reduction shall remain effective until the LOC Amount is further amended in accordance with the terms hereof or the Letter of Credit is terminated pursuant to the terms of this Agreement.

• The Borrower shall, subject to the prior written consent of the Ceding Company and the Reinsurance Trustee, have the right at any time to reduce, upon fifteen (15) calendar days prior written notice to the Issuing Lender, the LOC Amount (an “Optional LOC Reduction”).

• One of the originalities of this experiment with respect to the existing literature is that it combines an individual incentive, namely the standard AEM monetary attribute, with a collective incentive through a final bonus conditional on collective success, the sum of which is paid to individuals.

• If the Issuing Lender has not received the officer’s certificate of the Borrower described in the immediately preceding sentence and the Issuing Lender has delivered a Non-Increase Notice, then the LOC Amount shall not be increased above the then-current LOC Amount.

• The maximum amount of all Letter of Credit Draws that the Company may make under this Agreement (and the maximum consideration Purchaser is obligated to pay for Common Stock and/or Warrants hereunder at Additional Closings) shall not exceed the LOC Amount.

More Definitions of LOC Amount

LOC Amount means, as of any date of determination, the amount available to be drawn under any Letter of Credit as of such date; provided, that any Letter of Credit having an expiry date within [***] shall have an LOC Amount of [***].

LOC Amount means the aggregate issued and outstanding face amounts of all Letters of Credit remaining undrawn at any time and from time to time, as determined by the Calculation Agent. (e) The definition of “LOC Commitment” in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “LOC Commitment” is equal to $,100,000,000. (f) The definition of “LOC Fees” in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “LOC Fees” means, on any date of determination, an amount equal to the product of (i), (ii) and (iii), divided by (iv), where (i) is (a) prior to the Availability Period End Date, the LOC Commitment, (b) on and after the Availability Period End Date, the daily average of the LOC Amount during the period for which the LOC Fees are being calculated, (ii) is 140 basis points per annum or, solely with respect to each day occurring during a Reduced Fee Cash Collateralization Period, 75 basis points per annum, (iii) is the actual number of days during the period for which the LOC Fees are being calculated, and (iv) is three hundred sixty (360) calendar days, each as determined by the Calculation Agent. (g) The definition of “Reduced Fee Cash Collateralization Period” in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “Reduced Fee Cash Collateralization Period” means (a) the period from and including an Optional Cash Collateralization Commencement Date to but excluding the earlier of (i) an Optional Collateral Fund Interest Re-Collateralization Resumption Date, (ii) the last Business Day that is not more than 60 days after such Optional Cash Collateralization Commencement Date or (iii) the day on which the LOC Commitment is reduced in whole and (b) the period from and including the

LOC Amount the meaning given to that term in Clause 3.5(b);

LOC Amount means (i) Tranche A LOC Amount plus (ii) Tranche B LOC Amount.

LOC Amount. See Section 2.3(a);

LOC Amount means the stated amount of $8,535,946.31 as reduced and ---------- reinstated as provided for in the Letter of Credit.

LOC Amount means the aggregate issued and outstanding face amount of the Letter of Credit at any time and from time to time, including