PF Lender definition

PF Lender means a Lender with a PF L/C Commitment, a participation in an outstanding PF Letter of Credit or L/C Disbursement in respect thereof or a PF L/C Loan.
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PF Lender means each Lender having a PF Letter of Credit Commitment (or, to the extent terminated, an outstanding Credit-Linked Deposit).
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Examples of PF Lender in a sentence

  • Each PF Lender hereby authorizes the Administrative Agent to reimburse the Issuing Bank solely from such Lender’s PF Pro Rata Percentage of the Credit-Linked Deposits on deposit with the Administrative Agent in the Credit-Linked Deposit Account (it being understood that such amount shall be deemed to constitute a PF L/C Loan of such Lender and such payment shall be deemed to have reduced the PF L/C Exposure), and the Administrative Agent will promptly pay to the Issuing Bank such amounts.

  • The Administrative Agent hereby agrees to pay to each PF Lender, on each Interest Payment Date for the Credit-Linked Deposits, interest (computed on the basis of the actual number of days elapsed over a year of 360 days) on the amount of such PF Lender’s PF Pro Rata Percentage of the aggregate amount of the Credit-Linked Deposits during such Interest Period at a rate per annum equal to the Adjusted LIBO Rate for such Interest Period less the Credit-Linked Deposit Cost Amount.

  • Each Revolving Credit Lender and PF Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or an Event of Default, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

  • Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its Participation in PF Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit.

  • Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its participation in PF Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit.

  • At the time of any termination of a PF Lender’s PF Letter of Credit Commitment pursuant to this Section 3.02(c), the Administrative Agent shall return to such PF Lender its Credit-Linked Deposit.

  • Without the consent of the Administrative Agent, the Credit-Linked Deposit funded by any PF Lender shall not be released in connection with any assignment of its PF Letter of Credit Commitment, but shall instead be purchased by the relevant assignee and continue to be held for application (if not already applied) pursuant to Section 2.03(c) in respect of such assignee’s obligations under the PF Letter of Credit Commitment assigned to it.

  • Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of PF L/C Loans shall be satisfied in full upon the funding of its Credit-Linked Deposit.

  • Each Revolving Credit Lender, each PF Lender and each Incremental PF Lender, if any, acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or an Event of Default, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

  • Notwithstanding anything herein to the contrary, the funding obligation of each PF Lender in respect of its participation in PF Letters of Credit and PF L/C Loans shall be satisfied in full upon the funding of its Credit-Linked Deposit.