Definition of Term L/C Cap

  1. Term L/C Cap means $138,000,000; provided, however, that such amount may be increased as agreed by the Borrower and Administrative Agent (any such increase, a "Permitted Term L/C Cap Increase") (but in no event to exceed $201,000,000 in the aggregate), on a temporary basis (not to exceed, with respect to the replacement of any letter of credit, 10 Business Days), solely to facilitate the replacement of any letter of credit that was backstopped by the Term Facility Letter of Credit issued on the Effective Date pursuant to the Collateral Substitution Agreement with a Term Facility Letter of Credit."

Examples of Term L/C Cap in a sentence

  1. The Term Facility Letter of Credit Account will be funded on the date of the first Borrowing of Term Loans hereunder in an amount not to exceed 102% of the Term L/C Cap.

Definition of Term L/C Cap in Debtor in Possession Credit Agreement

Term L/C Cap means $138,000,000; provided, however, that such amount may be increased as agreed by the Borrower and Administrative Agent (any such increase, a "Permitted Term L/C Cap Increase") (but in no event to exceed $201,000,000 in the aggregate), on a temporary basis (not to exceed, with respect to the replacement of any letter of credit, 10 Business Days), solely to facilitate the replacement of any letter of credit that was backstopped by the Term Facility Letter of Credit issued on the Effective Date pursuant to the Collateral Substitution Agreement with a Term Facility Letter of Credit."