Synthetic Exposure definition
Synthetic Exposure means, with respect to any Synthetic L/C Lender at any time, the sum of the outstanding principal amount of such Lender’s Synthetic L/C Loans and its Synthetic L/C Exposure at such time. The Synthetic Exposure of any Synthetic Lender at any time shall be its Applicable Percentage of the total Synthetic Exposure at such time.
Examples of Synthetic Exposure in a sentence
Letters of Credit issued under the terms of Section 2.05(a) shall be Revolving Letters of Credit only to the extent, and in an amount by which, the aggregate amount of the Synthetic Exposure exceeds the total Synthetic L/C Commitments.
Letters of Credit issued under the terms of Section 2.05(a) shall be Synthetic Letters of Credit unless after giving effect thereto the Synthetic Exposure would exceed the total Synthetic L/C Commitments.