LOC Draw definition

LOC Draw means any draw under the Letter of Credit.
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LOC Draw means a draw under the Letter of Credit Agreement. --------
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Examples of LOC Draw in a sentence

  • The Indenture Trustee is making a drawing under the Letter of Credit as required by the Indenture for an amount equal to the lesser of (i) the LOC Draw Amount and (ii) the Letter of Credit Available Amount as in effect on the date of this certificate (such lesser amount being the “ LOC Credit Disbursement”).

  • Internal transfers between your Checking Account and Savings Account are available for withdrawal the same Business Day you initiate the transfer.● LOC Draw.

  • Pursuant to that certain Line of Credit Agreement dated April 30, 2020 between Debtor Cred LLC and UpgradeYa (the “ CredEarn Agreement”),7 UpgradeYa allocated $120,000of the LOC Draw as a loan to the Debtors as part of the Debtors’ CredEarn program that was to be used to pay the interest accrued on the Line of Credit while earning eight percent (8%) interest.

  • Leibfried and Pierson note that they deliberately do not speak about ‘supranationalisation’, nor ‘harmonisation’ but use the term ‘homogenisation’.

  • Notwithstanding the foregoing, if any of the Collateral necessary to fully repay and reimburse the Lender is invested in commercial paper, then the Borrower shall be obligated to repay and/or reimburse the Lender when such investment matures, but in no event later than ten (10) Business Days from the date such LOC Draw was honored.

  • The undersigned hereby certifies that a Primary LOC Draw Event has occurred.

  • Notwithstanding the foregoing, the Debtors' obligation to repay any advance resulting from an LOC Draw on the terms provided herein and the Debtors' agreement not to make any additional purchases or pay any additional expenses utilizing credit extended pursuant to the Textron Financing Facility in the event of termination of this Agreement as provided below will survive any termination of this Agreement.

  • In addition to improving AR management, this should help reduce the number of closeouts on an ongoing basis.▪ LOC Draw - As SFSU considers completing the LOC draws more frequently (Huron recommends drawing monthly vs.

  • The Indenture Trustee is making a drawing under the Letter of Credit as required by the Indenture for an amount equal to the lesser of (i) the LOC Draw Amount and (ii) the Letter of Credit Available Amount as in effect on the date of this certificate (such lesser amount being the “LOC Credit Disbursement”).

  • If for any reason it is unlawful or impossible for the Lender to be fully reimbursed from the Collateral Account as set forth in Section 2.2(a) within two (2) Business Days after honoring a LOC Draw, then the Borrower shall be deemed to have requested a Revolving Credit Loan equal to the amount of such LOC Draw and any fees and costs associated therewith as set forth in this Agreement and the Security Documents as of the date such LOC Draw was honored by the Lender (a “Mandatory Borrowing”).

Related to LOC Draw

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Limit means $5,000,000.

  • Downgrade Drawing has the meaning assigned to such term in Section 3.6(c).

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Revolving Loan Maturity Date means March 31, 2003.

  • Letter of Credit Outstandings means, at any time, the sum of, without duplication, (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Revolving Maturity Date means the fifth anniversary of the Effective Date.

  • 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 Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Swingline Expiry Date means that date which is five Business Days prior to the Revolving Loan Maturity Date.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Commitment Period means the period commencing on the earlier to occur of (i) the Effective Date, or (ii) such earlier date as the Company and the Investor may mutually agree in writing, and expiring on the earliest to occur of (x) the date on which the Investor shall have made payment of Advances pursuant to this Agreement in the aggregate amount of Five Million Dollars ($5,000,000), (y) the date this Agreement is terminated pursuant to Section 2.5, or (z) the date occurring twenty-four (24) months after the Effective Date.

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Swingline Maturity Date means, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity Date.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Swing Loan Maturity Date means, with respect to any Swing Loan, the earlier of (a) thirty (30) days after the date such Swing Loan is made, or (b) the last day of the Commitment Period.

  • Revolving Line Maturity Date is that date which is two (2) years following the Effective Date.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • LOC Documents means, with respect to any Letter of Credit, such Letter of Credit, any amendments thereto, any documents delivered in connection therewith, any application therefor, and any agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (i) the rights and obligations of the parties concerned or (ii) any collateral security for such obligations.

  • Revolving Credit Maturity Date means the earliest of (a) May 24, 2012, or (b) such earlier date upon which the Outstanding Amounts under the Revolving Credit Facility, including all accrued and unpaid interest, are required to be paid in full, and all Revolving Credit Commitments terminated, in accordance with the terms hereof.

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • Unpaid Drawing shall have the meaning provided in Section 3.4(a).

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Effective Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.