Synthetic Letter of Credit Loans definition

Synthetic Letter of Credit Loans means the loans deemed made by Synthetic Letter of Credit Lenders to Borrower pursuant to subsection 3.3B and subsection 3.3C.
Sample 1Sample 2
Synthetic Letter of Credit Loans means the loans deemed made by Synthetic Letter of Credit Lenders to Borrower pursuant to subsection 3.3B and subsection 3.3C.";
Sample 1Sample 2

Examples of Synthetic Letter of Credit Loans in a sentence

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  • Borrower shall from time to time prepay the Synthetic Letter of Credit Loans to the extent necessary so that the Total Utilization of Synthetic Letter of Credit Commitments shall not at any time exceed the Synthetic Letter of Credit Commitments then in effect.

  • The Administrative Agent shall use the Credit-Linked Deposits (i) to fund the Synthetic Letter of Credit Loans on behalf of the Synthetic Letter of Credit Lenders pursuant to subsection 3.3B(iii) and (ii) to fund the payments on behalf of the Synthetic Letter of Credit Lenders to be made to the Synthetic Letter of Credit Issuing Lenders as (and to the extent) required by subsection 3.3C(i)(c).

  • To the extent requested by any Lender having new Commitments, Borrower shall have duly authorized, executed and delivered to Administrative Agent, for distribution to such Lender, new Notes to reflect the new Commitments and/or outstanding LC Facility Loans or Synthetic Letter of Credit Loans of such Lender.

  • Aggregate principal and interest payments in respect of Term Loans, Synthetic Letter of Credit Loans, Swing Line Loans and Revolving Loans shall be apportioned among all outstanding Loans to which such payments relate, in each case proportionately to Lenders’ respective Pro Rata Shares.

  • Nothing in this subsection 3.3B(ii) shall be deemed to relieve any Synthetic Letter of Credit Lender from its obligation to make Synthetic Letter of Credit Loans on the terms and conditions set forth in this Agreement, and Borrower shall retain any and all rights it may have against any Synthetic Letter of Credit Lender resulting from the failure of such Synthetic Letter of Credit Lender to make such Synthetic Letter of Credit Loans under this subsection 3.3B.

  • Aggregate principal and interest payments in respect of Term Loans, LC Facility Loans, Synthetic Letter of Credit Loans, Swing Line Loans and Revolving Loans shall be apportioned among all outstanding Loans to which such payments relate, in each case proportionately to Lenders’ respective Pro Rata Shares.

  • The proceeds of any Revolving Loans, Synthetic Letter of Credit Loans and any Swing Line Loans shall be applied by Borrower for working capital and other general corporate purposes, which may include the making of 63 intercompany loans to any of Borrower’s Subsidiaries, in accordance with subsection 7.1(iv), for their own general corporate purposes and to finance Permitted Acquisitions.

  • Administrative Agent shall use the Credit-Linked Deposits (i) to fund the Synthetic Letter of Credit Loans on behalf of the Synthetic Letter of Credit Lenders pursuant to subsection 3.3B(ii) and (ii) to fund the payments on behalf of the Synthetic Letter of Credit Lenders to be made to the Synthetic Letter of Credit Issuing Lenders as (and to the extent) required by subsection 3.3C(i)(b).

Related to Synthetic Letter of Credit Loans

  • 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.

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

  • 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.

  • 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 Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • 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.

  • 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.

  • 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.

  • 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.

  • Letter of Credit Outstandings means, at any time, the sum of, without duplication, (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

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

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

  • 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 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.

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

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

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

  • 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.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

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

  • Letters of Credit as defined in Section 3.1(a).