Revolving Letter of Credit definition

Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05.

Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

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.

Examples of Revolving Letter of Credit in a sentence

• The applicable Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Revolving Letter of Credit.

• If requested by the applicable Issuing Bank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Revolving Letter of Credit.

• The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the applicable Issuing Bank, such Issuing Bank shall be deemed to have exercised reasonable care in each such determination and each refusal to issue a Revolving Letter of Credit.

• In determining compliance with any condition hereunder to the making of a Loan or issuance of a Revolving Letter of Credit that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank, any Agent may presume that such condition is satisfactory to such Lender or Issuing Bank unless such Agent shall have received notice to the contrary from such Lender or Issuing Bank prior to the making of such Loan or issuance of a Revolving Letter of Credit, as applicable.

• Each Credit Event (other than an amendment, extension or renewal of a Revolving Letter of Credit without any increase in the stated amount of such Revolving Letter of Credit) shall be deemed to constitute a representation and warranty by the Borrower on the date of such Credit Event as to the matters specified in paragraphs (b) and (c) of this Section 4.01.

More Definitions of Revolving Letter of Credit

Revolving Letter of Credit means, at any time, each Letter of Credit outstanding at such time designated as a Revolving Letter of Credit pursuant to Section 2.05(a).

Revolving Letter of Credit means, at any time, any Letter of Credit that has been designated by the Borrower (or deemed designated) as a Revolving Letter of Credit in accordance with the provisions of Section 2.23.

Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05 for the purposes set forth in Section 5.01(e), which letter of credit shall be in form and substance reasonably acceptable to the applicable Issuing Bank, the Administrative Agent and the Borrower.

Revolving Letter of Credit means any standby letter of credit issued under clause (a)(i)(A) of Section 2.3 and shall include those of the Existing Letters of Credit identified on Schedule 1.1(a) as “Revolving Letters of Credit”.

Revolving Letter of Credit has the meaning specified in Section 2.01(c).

Revolving Letter of Credit means a Canadian Tranche Letter of Credit or a European Tranche Letter of Credit, as applicable.

Revolving Letter of Credit means (a) any Existing Revolving Letter of Credit and (b) any other letter of credit issued under the Revolving Credit Facility on or after the Closing Date. A Revolving Letter of Credit may be a commercial letter of credit or a standby letter of credit.