Definition of Term Letter of Credit

  1. Term Letter of Credit means a letter of credit issued under this Agreement by any L/C Issuer (or its designee) or a Person approved by the Administrative Agent; provided, that the aggregate face amount of all Term Letters of Credit shall not exceed the Maximum Term Letter of Credit Amount.

Examples of Term Letter of Credit in a sentence

  1. On the Closing Date, the proceeds of the Term C Loans, together with other funds (if any) provided by the Borrower, were deposited into the applicable Term C Loan Collateral Accounts such that the Term C Loan Collateral Account Balance of the Term C Loan Collateral Account established for the benefit of each Term Letter of Credit Issuer equaled at least the Term Letters of Credit Outstanding of such Term Letter of Credit Issuer.

Definition of Term Letter of Credit in Credit Agreement

Term Letter of Credit means a letter of credit issued under this Agreement by any L/C Issuer (or its designee) or a Person approved by the Administrative Agent; provided, that the aggregate face amount of all Term Letters of Credit shall not exceed the Maximum Term Letter of Credit Amount.