Definition of Term Letter of Credit Obligations


Term Letter of Credit Obligations means (a) prior to the Fifth Amendment Date, the Term Letter of Credit Commitment plus the amount of all outstanding Term Letters of Credit; and (b) on and after the Fifth Amendment Date, the aggregate undrawn amount available to be drawn under all outstanding Continuing Term Letters of Credit plus all drawn and unreimbursed amounts, fees and all other obligations and liabilities under or relating to all Continuing Term Letters of Credit.
Sample 1 Sample 2

Examples of Term Letter of Credit Obligations in a sentence

No amounts repaid on the Term Loan B Obligations or the Term Letter of Credit Obligations under this SECTION 3.02 may be reborrowed.
So long as any Event of Default shall be continuing, the Interest Rate and the Commitment Fee shall, at the request of the Administrative Agent or the Required Lenders, each be increased by 2 percentage points per annum above the Interest Rate or Commitment Fee otherwise applicable to the Term Loan B Obligations or the Term Letter of Credit Obligations.
All provisions of Annex A shall apply to the Term Letter of Credit Commitment, the Term Letters of Credit issued thereunder and the Term Letter of Credit Obligations.
The Borrowers shall pay the accrued interest on the Term Loan B Obligations and the Commitment Fee on the Term Letter of Credit Obligations in cash on each Interest Payment Date.
Subject to SECTION 2.08, all payments under this SECTION 3.02 shall be applied to the Term Loan B Obligations until all of the Term Loan B Obligations are repaid in full on a pro rata basis according to each Lender's Pro Rata Share and thereafter shall be applied to cash collateralize the Term Letter of Credit Obligations as set forth in Annex A.