Synthetic LC Lender definition

Synthetic LC Lender means a Lender having an interest in the Synthetic LC Deposit Account or the Synthetic LC Commitment.
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Synthetic LC Lender means a Lender having a Credit-Linked Deposit.
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Synthetic LC Lender means any Tranche 1 Synthetic LC Lender or any Additional Tranche Synthetic LC Lender.
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Examples of Synthetic LC Lender in a sentence

  • Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Facility Lender pursuant to paragraph (e)(i) of this Section or from the Credit-Linked Deposit Account pursuant to paragraph (e)(ii) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Facility Lender or Synthetic L/C Lender, as applicable, to the extent of such payment.

  • Synthetic LC Issuing Bank, Collateral Agent and Synthetic LC Depositary Bank shall not be required to maintain any records as to the interests of each Synthetic LC Lender (which shall be maintained by Administrative Agent) or make any payments directly to any Synthetic LC Lender (but only to Administrative Agent for payment to any Synthetic LC Lender).

  • In connection with each assignment of a Synthetic LC Deposit, the Synthetic LC Deposit of the assigning Synthetic LC Lender shall not be released, but shall instead be purchased by the relevant assignee, and the amount of such Synthetic LC Deposit shall continue to be held in the Synthetic LC Deposit Account for application (to the extent not already applied) in accordance with Section 2.5 to satisfy such assignee’s obligations in respect of the Synthetic LC Usage.

  • The Synthetic LC Deposit Return accrued through and including March 31, June 30, September 30 and December 31 of each year shall be paid by the Synthetic LC Depositary Bank to Administrative Agent, for payment to each Synthetic LC Lender, on the second Business Day following such last day, commencing on the first such date to occur after the Closing Date, and on the date on which each of the total Synthetic LC Deposits and the Synthetic LC Usage shall have been reduced to zero.

  • Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Synthetic L/C Lender in respect of its participation in Synthetic Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit on or prior to the Closing Date.

  • Notwithstanding any provision in this Agreement to the contrary, the sole funding obligation of each Synthetic L/C Lender in respect of its participation in Synthetic Letters of Credit shall be satisfied in full upon the funding of its Credit-Linked Deposit on the Closing Date.

  • Administrative Agent shall maintain records enabling it to determine at any time the amount of the interest of each Synthetic LC Lender in the Synthetic LC Deposit Account (the interest of each Synthetic LC Lender in the Synthetic LC Deposit Account, as evidenced by such records, being referred to as such Synthetic LC Lender’s “Sub-Account”).

  • The Borrower shall pay to the Administrative Agent for the account of each Non-Extended Synthetic L/C Lender a facility fee equal to (i) the sum of (A) the Applicable Rate with respect to Non-Extended Synthetic L/C facility fees and (B) the Credit-Linked Deposit Cost Amount for the applicable period times (ii) the amount of such Lender’s Credit-Linked Deposit.

  • Each Synthetic LC Lender irrevocably authorizes Collateral Agent and the Synthetic LC Issuing Bank to apply, or to permit the Synthetic LC Depositary Bank to apply, amounts of its Synthetic LC Deposit held in the Synthetic LC Deposit Account as provided in this Section 2.5(e).

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More Definitions of Synthetic LC Lender

Synthetic LC Lender means a Lender that has a Synthetic Deposit Commitment.
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Synthetic LC Lender means a Lender with a Synthetic LC Funding Amount or, if the Synthetic LC Funding Amounts have terminated or expired, a Lender with Synthetic LC Exposure.
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Related to Synthetic LC Lender

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Facility Lender Any lender(s) or tax equity financing party providing any Facility Debt and any successor(s) or assigns thereto, collectively.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • LC means Letter of Credit

  • 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.

  • Revolving Lender means a Lender with a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Exposure.

  • 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.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

  • U.S. Revolving Lender means a Lender with a U.S. Revolving Commitment or, if the U.S. Revolving Commitments have terminated or expired, a Lender with U.S. Revolving Exposure.

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • L/C Lender a Lender with an L/C Commitment.

  • Revolving Credit Lenders means the financial institutions from time to time parties hereto as lenders of the Revolving Credit.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Issuing Lenders means all such Persons, collectively.

  • Requisite Revolving Lenders means Lenders having (a) more than 50% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Revolving Loan.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

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

  • PPP Lender means JPMorgan Chase Bank, N.A.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Issuing Lender means WFF or any other Lender that, at the request of Administrative Borrower and with the consent of Agent, agrees, in such Lender’s sole discretion, to become an Issuing Lender for the purpose of issuing L/Cs or L/C Undertakings pursuant to Section 2.12.

  • Incremental Revolving Credit Lender means a Lender with an Incremental Revolving Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class as a result of an Incremental Revolving Credit Commitment.

  • New Revolving Lender as defined in Section 2.24.