Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).
Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.
Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.
Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.
U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.
Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.
Letter of Credit Limit means $5,000,000.
Dollar Letter of Credit means a Letter of Credit denominated in Dollars.
Extended Letter of Credit has the meaning given that term in Section 2.3.(b).
Letter of Credit Request shall have the meaning provided in Section 2.03(a).
Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.
Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.
Evergreen Letter of Credit has the meaning set forth in Section 2.01.
Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:
Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.
Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or any of its Subsidiaries in the ordinary course of its business.
Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).
Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.
Letter of Credit means any letter of credit issued pursuant to this Agreement.
Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.
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.
Supporting Letter of Credit has the meaning specified in Section 1.3(g).
Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.
Letter of Credit Fees shall have the meaning set forth in Section 3.2.
Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.
Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.