Definition of Term Letter of Credit Commitment

  1. Term Letter of Credit Commitment means (a) prior to the Fifth Amendment Date, the Maximum Term Letter of Credit Amount minus the sum of (i) the Term Letter of Credit Usage and (ii) the aggregate of all Conversion Amounts; and (b) on and after the Fifth Amendment Date, the face amount of all Continuing Term Letters of Credit minus the face amount of each Continuing Term Letter of Credit that has expired, terminated or that has been drawn, returned, replaced or cancelled, in each case, in full. For the avoidance of doubt, any Term Letter of Credit Commitment existing prior to the Fifth Amendment Date other than with respect to the Continuing Term Letters of Credit shall be deemed to have been terminated in full as of the Fifth Amendment Date.

Examples of Term Letter of Credit Commitment in a sentence

  1. Upon any prepayment of Term C Loans, the Term Letter of Credit Commitment shall be reduced by an amount equal to such prepayment as provided in Section 4.3(b) and the Borrower shall be permitted to withdraw an amount up to the amount of such prepayment from the Term C Loan Collateral Account to complete such prepayment as, and to the extent, provided in Section 4.3(b).
  2. Term Letter of Credit Commitment Amount: Twenty Million Dollars ($20,000,000).

Definition of Term Letter of Credit Commitment in Credit Agreement

Term Letter of Credit Commitment means the Maximum Term Letter of Credit Amount minus the sum of (a) the Term Letter of Credit Usage and (b) the aggregate of all Conversion Amounts.


Definition of Term Letter of Credit Commitment in Amendment to Term Credit Agreement

Term Letter of Credit Commitment means (a) prior to the Fifth Amendment Date, the Maximum Term Letter of Credit Amount minus the sum of (i) the Term Letter of Credit Usage and (ii) the aggregate of all Conversion Amounts; and (b) on and after the Fifth Amendment Date, the face amount of all Continuing Term Letters of Credit minus the face amount of each Continuing Term Letter of Credit that has expired, terminated or that has been drawn, returned, replaced or cancelled, in each case, in full. For the avoidance of doubt, any Term Letter of Credit Commitment existing prior to the Fifth Amendment Date other than with respect to the Continuing Term Letters of Credit shall be deemed to have been terminated in full as of the Fifth Amendment Date.