Several Letter of Credit means a Letter of Credit issued in Dollars severally by or on behalf of the Lenders pursuant to which the Lenders are severally liable to the beneficiary which shall be substantially in the form of Exhibit E with such changes thereto as are described in Section 2.03(a)(iii)(E).
Several Letter of Credit means any Letter of Credit issued severally by the Lenders, substantially in the form of Exhibit F, with such changes therein as the Several L/C Agent determines are acceptable to it and not adverse to the interests of the Lenders.
Several Letter of Credit means a standby Letter of Credit issued severally by or on behalf of the Several Issuing Lenders pursuant to which the Several Issuing Lenders are severally liable for payment to the beneficiary, and pursuant to which any Participating Lender shall have a participation obligation therein to the L/C Agent, each of which such standby letters of credit shall be substantially in the form of Exhibit H or in such other form consistent with the second proviso to Section 3.1(d) as may be agreed by the Company and the L/C Agent.
Examples of Several Letter of Credit in a sentence
The failure of any Lender to make any Revolving Loan, to fund any Several Letter of Credit, to purchase and fund such participations or to make any payment under Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Revolving Loan, to purchase its participation or to make its payment under Section 10.04(c).
The applicable Fronting Bank shall be paid a fronting fee (the “Several L/C Fronting Fee”) computed on the risk participation purchased by each Participating Bank from such Fronting Bank with respect to each Several Letter of Credit at the rate per annum agreed among such Participating Bank, the Fronting Bank and the Loan Parties.
More Definitions of Several Letter of Credit
Several Letter of Credit has the meaning provided in Section 2.01(a).
Several Letter of Credit a Letter of Credit issued severally by or on behalf of the Lenders pursuant to which the Lenders are severally liable to the beneficiary which shall be substantially in the form of Exhibit L or in such other form as may be agreed by the Company and the L/C Administrator.
Several Letter of Credit means a Letter of Credit issued severally by or on behalf of the Revolving Credit Lenders pursuant to which the Revolving Credit Lenders are severally liable to the beneficiary which shall be substantially in the form of Exhibit H or such other form agreed by the Company and the L/C Administrator (with the consent of all Revolving Credit Lenders, such consent not to be unreasonably withheld or delayed; it being understood that such other form shall be deemed acceptable to all Revolving Credit Lenders unless the L/C Administrator has received notice to the contrary within two Business Days after the L/C Administrator has notified of such other agreed form to the Revolving Credit Lenders).
Several Letter of Credit means any Letter of Credit issued severally by the NAIC Tranche Lenders or Non-NAIC Tranche Lenders, as the case may be.
Several Letter of Credit means a Letter of Credit issued severally by or on behalf of the Lenders pursuant to which the Lenders (or in the case of any Participating Bank, its Participating Bank Issuer) are severally liable to the beneficiary which shall be substantially in the form of Exhibit B-2 or in such other form as may be agreed by the applicable L/C Applicant and the L/C Administrator; provided that the L/C Administrator will agree to reasonable changes to such form, necessary to satisfy any then applicable requirement of the applicable insurance regulators and/or of any rating agency.
Several Letter of Credit shall have the meaning provided in Section 2.01(a) and shall include each Existing Several Letter of Credit and each Specified Several Letter of Credit.
Several Letter of Credit shall have the meaning assigned to such term in Section 2.22(i).