RCF LC definition
Examples of RCF LC in a sentence
Such Swingline Lender shall make each Swingline Loan available to the Borrowers by means of a credit to the general deposit account of a Borrower (as designated by GEO in writing) with such Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an RCF LC Disbursement as provided in Section 2.05(f), by remittance to the respective RCF LC Issuer) by 2:00 p.m., New York City time, on the requested date of such Swingline Loan.
Any other fees payable to any RCF LC Issuer pursuant to this Section 2.11(b) shall be payable within 10 days after demand.
If requested by the applicable Issuing Lender, the Borrowers, with respect to any RCF LC, or GEO, with respect to any AUD LC, shall also submit a Letter of Credit application on such Issuing Lender’s standard form in connection with any request for a Letter of Credit.
Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to Section 2.05(f), the Administrative Agent shall distribute such payment to the respective RCF LC Issuer or, to the extent that the Revolving Credit Lenders have made payments pursuant to this paragraph to reimburse such RCF LC Issuer, then to such Revolving Credit Lenders and such RCF LC Issuer as their interests may appear.
An RCF LC shall be issued, amended, renewed or extended only if after giving effect to such issuance, amendment, renewal or extension (A) the aggregate RCF LC Exposure shall not exceed $175,000,000 and (B) the total Revolving Credit Exposure shall not exceed the total Revolving Credit Commitments (and upon issuance, amendment, renewal or extension of each RCF LC the Borrowers shall be deemed to represent and warrant as to the same).
A certificate of the Administrative Agent on behalf of such US Dollar RCF Issuing Lender submitted to any US Dollar RCF L/C Participant with respect to any such amounts owing under this Section shall be conclusive in the absence of manifest error.
Any payment made by a Revolving Credit Lender pursuant to this paragraph to reimburse an RCF LC Issuer for any RCF LC Disbursement shall not constitute a Loan and shall not relieve the Borrowers of their obligation to reimburse such RCF LC Disbursement.
A certificate of the Canadian Agent on behalf of such Dual Currency RCF Issuing Lender submitted to any Dual Currency RCF L/C Participant with respect to any such amounts owing under this Section shall be conclusive in the absence of manifest error.
Each such payment shall be made in the same manner as provided in Section 2.06 with respect to Loans made by such Revolving Credit Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Revolving Credit Lenders), and the Administrative Agent shall promptly pay to the respective RCF LC Issuer the amounts so received by it from the Revolving Credit Lenders.
For purposes of computing commitment fees with respect to the Revolving Credit Commitments, the Revolving Credit Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Credit Loans and RCF LC Exposure of such Lender (and the Swingline Exposure of such Lender shall be disregarded for such purpose).