Outstanding Letters of Credit definition

Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

Outstanding Letters of Credit means each letter of credit described on Schedule 1.1(b) and outstanding as of the Closing Date.

Outstanding Letters of Credit means at any time the Letters of Credit outstanding at such time.

Examples of Outstanding Letters of Credit in a sentence

• The Account Party shall fail to maintain at any time Collateral in which Bank shall have a perfected first priority security interest and 17103949v6 having a Collateral Value of not less than the Outstanding Letters of Credit and such failure shall continue or remain unremedied for more than the five (5) Business Day period provided for in Section 7(d)(ii).

• A completed Collateral Value Certificate setting forth the calculation of Collateral Value and the Outstanding Letters of Credit as of the Closing Date.

• On the date of Issuance of any Letter of Credit for the account of the Account Party, both immediately before and after giving effect to such Issuance, the amount of Outstanding Letters of Credit does not exceed the Collateral Value of the Collateral.

More Definitions of Outstanding Letters of Credit

Outstanding Letters of Credit means, as of any date, the sum of (a) the Stated Amount of all outstanding Letters of Credit at such time and, without duplication, (b) all reimbursement obligations in respect of Letters of Credit at such time.

Outstanding Letters of Credit means all undrawn amounts of Letters of Credit plus Reimbursement Obligations;

Outstanding Letters of Credit is defined in Section 2.22(l).

Outstanding Letters of Credit shall have the meaning set forth in Section 3.01(a) hereof.

Outstanding Letters of Credit means those letters of credit issued under the Prior Credit Agreement and outstanding as of the date hereof as listed on Schedule 12 attached hereto.

Outstanding Letters of Credit has the meaning assigned thereto in the Preamble to this Agreement.

Outstanding Letters of Credit is defined in Section 2.22(xii).