Maximum Face Amount definition

Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

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Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit.

Maximum Face Amount means with respect to any Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such letter of Credit, whether or not any such automatic increase has become effective.

Examples of Maximum Face Amount in a sentence

• Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Issuer a participation in such Letter of Credit and each drawing thereunder in an amount equal to such Lender’s Commitment Percentage of the Maximum Face Amount of such Letter of Credit and the amount of such drawing, respectively.

• Immediately upon the issuance of each Letter of Credit, each Revolving Loan Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a participation in such Letter of Credit and each drawing thereunder in an amount equal to such Lender's Pro Rata Share (determined in accordance with clause (a) of the definition of Pro Rata Share) of the Maximum Face Amount of such Letter of Credit and the amount of such drawing, respectively.

• Immediately upon the issuance of each Canadian Letter of Credit, each Canadian Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Agent a participation in such Canadian Letter of Credit and each drawing thereunder in an amount equal to such Canadian Lender’s Canadian Commitment Percentage of the Maximum Face Amount of such Canadian Letter of Credit and the amount of such drawing, respectively.

• For policies issued by us and ceded to you on an automatic basis, you will accept automatically 40% of each risk up to a maximum of: For Guaranteed Issue: # Lives Issue Ages Maximum Face Amount Per Policy ------- ---------- ------------------------------ 10 - 20 18 - 65 $20,000 x Number of Lives 21 - 24 18 - 65 $25,000 x Number of Lives 25+ 18 - 65 The lesser of: * $30,000 x Number of Lives * $3,000,000 * 4 x Avg.

• Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Agent a participation in such Letter of Credit and each drawing thereunder in an amount equal to such Lender's Commitment Percentage of the Maximum Face Amount of such Letter of Credit and the amount of such drawing, respectively.

• Agent has caused the issuance of four (4) Letters of Credit for the benefit of US Borrowers in the Maximum Face Amount of approximately $7,500,000 (subject to currency fluctuations) in connection with the obligations of US Borrowers under leases of Real Property (the “Existing Landlord L/Cs”).

• Maximum Face Amount: $2,000,000 Minimum Issue Amount: Ages 0 - 49 $100,000 50 - 65 $50,000 11/13/01 18 of 24 EXHIBIT A PLANS, RETENTION AND BINDING LIMITS (continued) The limits may be exceeded by as much as $25,000 in order to avoid reinsurance.

• L/C No. Maximum Face Amount12 Current Face Amount13 Beneficiary Name Issuance Date Expiry Date Auto Renewal 12 Amount should be the Dollar Equivalent of the Maximum Face Amount 13 Amount should be the Dollar Equivalent of the Current Face Amount.

• If, for any quarter during the Term, the average daily unpaid balance of the sum of (a) Revolving Advances plus (b) the Maximum Face Amount of outstanding Letters of Credit for each day of such quarter does not equal the Maximum Revolving Advance Amount, then Borrowers shall pay to Agent for the ratable benefit of Revolving Lenders a fee at a rate equal to one-half of one percent (0.50%) per annum on the amount by which the Maximum Revolving Advance Amount exceeds such average daily unpaid balance.

• If, for any quarter during the Term, the average daily unpaid balance of the sum of (a) Revolving Advances plus (b) the Maximum Face Amount of outstanding Letters of Credit for each day of such quarter does not equal the Maximum Revolving Advance Amount, then Borrowers shall pay to Agent for the ratable benefit of Lenders a fee at a rate equal to one-half of one percent (0.50%) per annum on the amount by which the Maximum Revolving Advance Amount exceeds such average daily unpaid balance.

More Definitions of Maximum Face Amount

Maximum Face Amount. [ ]: [table deleted]

Maximum Face Amount. $ Maximum Guaranteed Issue: $ *See details in this policy's application for qualifications.

Maximum Face Amount means, with respect to any outstanding Letter of Credit, the maximum face amount of such Letter of Credit as of the date of the issuance thereof and/or as of the date of any amendment thereto providing for any increase in the maximum face amount

Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. “Maximum Revolving Advance Amount” shall mean (a) during the period commencing on June 1 of each fiscal year of VMC and ending on August 31 of such fiscal year, $65,000,000 (other than during July and August 2022, during which months the Maximum Revolving Advance Amount shall be $70,000,000), (b) during the period (i) commencing on February 1 of each fiscal year of VMC and ending on May 31 of such fiscal year and (ii) commencing on September 1 of each fiscal year of VMC and ending on September 30 of such fiscal year, $60,000,000 (c) during the period commencing on October 1 of each fiscal year of VMC and ending on November 30 of such fiscal year, $40,000,000 (other than during October 2022, during which month the Maximum Revolving Advance Amount shall be $45,000,000) and (d) during the period commencing on December 1 of each fiscal year of VMC and ending on the last day of January in such fiscal year, $30,000,000. “Maximum Revolving Advance Availability” shall mean, as of any date of determination, the lesser of (a) the Maximum Revolving Advance Amount, minus the aggregate Maximum Undrawn Amount of all outstanding Letters of Credit, or (b) the Formula Amount. “Maximum Swing Loan Advance Amount” shall mean $5,000,000. “Maximum Undrawn Amount” shall mean with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn (whether or not any of the circumstances permitting the beneficiary to so draw exist at the time of determination), including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. “Modified Commitment Transfer Supplement” shall have the meaning set forth in Section 16.3(d) hereof.

Maximum Face Amount. [ ]: [table deleted] Automatic Quota Share: Minimum Face Amount: $[ ] Maximum Face Amount: [ ]: [table deleted] Automatic Excess: