PLOC Bank definition
PLOC Bank means any Person that, at the time it issues a Performance Letter of Credit for the account of any Borrower and/or any (or one or more) Subsidiary of a Borrower that is permitted to be secured by a Lien on Collateral pursuant to Section 7.01(q), is a Lender or an Affiliate of a Lender, in its capacity as the issuer of such Performance Letter of Credit.
PLOC Bank means any Person that, at the time it issues a Performance Letter of Credit for the account of any Borrower and/or any (or one or more) Subsidiary of a Borrower that is permitted to be secured by a Lien on Collateral pursuant to Section 7.01(q), is a Lender or an Affiliate of a Lender, in its capacity as the issuer of such Performance Letter of Credit. For the avoidance of doubt, any Person that is a PLOC Bank with respect to a Secured Performance Letter of Credit immediately prior to the effectiveness of the 2021 Refinancing Amendment on the 2021 Refinancing Amendment Effective Date shall continue to be a PLOC Bank with respect to such Secured Performance Letter of Credit as of the 2021 Refinancing Amendment Effective Date immediately after the effectiveness of the 2021 Refinancing Amendment.
PLOC Bank means any Person that, at the time it issues a Performance Letter of Credit for the account of any Borrower and/or any (or one or more) Subsidiary of a Borrower that is permitted to be secured by a Lien on Collateral pursuant to S ection 7.01(q), is a Lender or an Affiliate of a Lender, in its capacity as the issuer of such Performance Letter of Credit.
Examples of PLOC Bank in a sentence
Notwithstanding the foregoing, Obligations arising under Secured Cash Management Agreements, Secured Hedge Agreements and Secured Performance Letters of Credit shall be excluded from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may reasonably request, from the applicable Cash Management Bank, Hedge Bank or PLOC Bank, as the case may be.
Each Cash Management Bank, Hedge Bank or PLOC Bank not a party to this Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX hereof for itself and its Affiliates as if a “Lender” party hereto.
More Definitions of PLOC Bank
PLOC Bank means any Person that, (a) at the time it issues a Performance Letter of Credit for the account of any Borrower and/or any (or one or more) Restricted Subsidiary of a Borrower that is permitted to be secured by a Lien on Collateral pursuant to Section 7.01(q), is a Lender or an Affiliate of a Lender or (b) at the time it or its Affiliate becomes a Lender is the issuer of a Performance Letter of Credit for the account of any Borrower and/or any (or one or more) Restricted Subsidiary of a Borrower that is permitted to be secured by a Lien on Collateral pursuant to Section 7.01(q), in each case in its capacity as the issuer of such Performance Letter of Credit. For the avoidance of doubt, any Person that is a PLOC Bank with respect to a Secured Performance Letter of Credit immediately prior to the effectiveness of the Amendment No. 16 on the Amendment No. 16 Effective Date shall continue to be a PLOC Bank with respect to such Secured Performance Letter of Credit as of the Amendment No. 16 Effective Date immediately after the effectiveness of the Amendment No. 16.
PLOC Bank means any Person that, (a) at the time it issues a Performance Letter of Credit for the account of any Borrower and/or any (or one or more) Restricted Subsidiary of a Borrower that is permitted to be secured by a Lien on Collateral pursuant to Section 7.01(q), is a Lender or an Affiliate of a Lender, or (b) at the time it or its Affiliate becomes a Lender is the issuer of a Performance Letter of Credit for the account of any Borrower and/or any (or one or more) Restricted Subsidiary of a Borrower that is permitted to be secured by a Lien on Collateral pursuant to Section 7.01(q), in each case in its capacity as the issuer of such Performance Letter of Credit. For the avoidance of doubt, any Person that is a PLOC Bank with respect to a Secured Performance Letter of Credit immediately prior to the effectiveness of the 2021 Refinancing Amendment No. 14 on the 2021 Refinancing Amendment No. 14 Effective Date shall continue to be a PLOC Bank with respect to such Secured Performance Letter of Credit as of the 2021 Refinancing Amendment No. 14 Effective Date immediately after the effectiveness of the 2021 Refinancing Amendment No. 14.