Revolving Loan Letter of Credit definition

Revolving Loan Letter of Credit means a Standby Letter of Credit or a Documentary Letter of Credit in such form as may be mutually agreed upon by Borrower and the applicable Issuer and issued pursuant to Section 2.1.3, provided that each Revolving Loan Letter of Credit shall be denominated in Dollars.
Sample 1
Revolving Loan Letter of Credit in Section 1.1 of the Credit Agreement are hereby amended and restated in their entirety to provide as follows:
Sample 1
Revolving Loan Letter of Credit means any Standby Letter of Credit or Documentary Letter of Credit issued for the account of the Borrower or any of its Subsidiaries pursuant to Section 2.8.
Sample 1

Examples of Revolving Loan Letter of Credit in a sentence

  • The aggregate outstanding principal balance of the Revolving Loan, Letter of Credit Obligations, Commercial Card Obligations and Hedging Agreement Obligations shall not at any time exceed the Maximum Facility.

  • Each Issuer will make available the original of each Revolving Loan Letter of Credit which it issues in accordance with the Issuance Request therefor to the beneficiary thereof (and will promptly provide each of the Lenders and the Borrower with a copy of such Revolving Loan Letter of Credit).

  • There is a tendency to associate immortality with dying for the cause, this immortality achieved either within a theological system (e.g., in heaven) or through lasting fame and repute.

  • Each Revolving Loan Letter of Credit issued pursuant to Section 2.8.2 shall, effective upon its issuance and without further action, be issued on behalf of all Lenders (including the Issuer thereof) pro rata according to their respective Percentages.

  • For so long as any Term A Loan Commitment, Term A Loan, Revolving Credit Commitment, Revolving Loan, Letter of Credit or LC Disbursement remains outstanding, the Company will not permit the Secured Debt Ratio to exceed 4.50 to 1.00.

  • For so long as any Revolving Credit Commitment, Revolving Loan, Letter of Credit or LC Disbursement remains outstanding, the Company will not permit the Secured Debt Ratio to exceed 4.50 to 1.00.

  • The aggregate Stated Amount of all Revolving Loan Letters of Credit outstanding at any one time shall not exceed $30,000,000 (the "Letter of Credit Sublimit") and after issuance of any Revolving Loan Letter of Credit, the aggregate Revolving Loan Letter of Credit Outstandings of all Revolving Loan Letters of Credit plus the aggregate principal amount of outstanding Loans shall not exceed the Commitment Amount.

  • The Borrower agrees to pay to the Agent, for the account of each Lender, a fee for each Letter of Credit for the period from and including the date of the issuance of such Letter of Credit to (but not including) the date upon which such Letter of Credit expires, at a per annum rate equal to the Revolving Loan Letter of Credit Applicable Margin on the outstanding face amount of each Letter of Credit in the case of Revolving Loan Letters of Credit.

  • On the Revolving Loan Commitment Termination Date, the Revolving Loan Commitment shall terminate and the Revolving Loans, the Revolving Loan Letter of Credit Obligations and all other amounts owing to the Revolving Lenders hereunder shall immediately become due and payable in full, in cash.

  • The Borrower shall pay to the Agent for the account of the Lenders with respect to each Revolving Loan Letter of Credit a per annum letter of credit fee in an amount equal to the Applicable Margin for LIBO Rate Loans as in effect from time to time, calculated on the basis of a year of 360 days, times the average daily amount of the Revolving Loan Letter of Credit Outstandings during the fiscal quarter then ended (or shorter period, as applicable).

Related to Revolving Loan Letter of Credit

  • 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.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Letter of Credit Limit means $5,000,000.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment or a Revolving Loan.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Revolving Loan Note means a promissory note in the form of Exhibit 2.5-1, as it may be amended, supplemented or otherwise modified from time to time.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).