Term Letter of Credit Obligations definition

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
Term Letter of Credit Obligations means the Term Letter of Credit Commitment plus the amount of all outstanding Term Letters of Credit.
Sample 1

Examples of Term Letter of Credit Obligations in a sentence

  • 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.

  • What ongoing fees and costs are paid by CER?Centro MCS Manager is entitled to certain fees as the responsible entity of Centro Retail Trust.

  • Each Borrower agrees that its right, title and interest in and to the Cash Collateral shall be limited to the right to require that the Administrative Agent and the Collateral Agent use the Cash Collateral in the Cash Collateral Account to satisfy the Borrowers’ Term Letter of Credit Obligations under the Credit Documents and this Section 2.10.

  • 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.

  • Each Lender agrees to incur, or purchase participations for, its Pro Rata Share of the Term Letter of Credit Obligations in respect of the Borrowers up to the principal amount set forth opposite each Lender’s name on Schedule 2.01(a) hereto, provided that the aggregate amount of all Term Letters of Credit shall not exceed the Term Letter of Credit Commitment.

  • Pursuant to the Cash Collateral Agreement, the Borrowers have pledged and granted to the Administrative Agent and the Collateral Agent, on behalf of the Secured Parties, a first priority security interest in all such Cash Collateral and all proceeds thereof, as security for the payment of all amounts due in respect of the Term Letter of Credit Obligations and the other Term Loan Obligations, whether or not then due.

  • They are therefore not deployable on military operations or subject to military discipline.

  • No amounts repaid on the Term Loan B Obligations or the Term Letter of Credit Obligations under this SECTION 3.02 may be reborrowed.

  • Stakeholder theory explains how managers have fiduciary duties to the corporation, shareholders and stakeholders (Donaldson and Preston, 1995).

  • Pursuant to the Cash Collateral Agreement, each Borrower has granted to the Administrative Agent and the Collateral Agent for the benefit of the Secured Parties a first priority security interest in its rights and interests in the Cash Collateral Account to secure the Term Letter of Credit Obligations of the Borrowers under this Section 2.10 and the Loan Documents.

Related to Term Letter of Credit Obligations

  • 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 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 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.

  • Credit Obligations means all principal, interest, fees, reimbursements, indemnifications, and other amounts now or hereafter owed by the Borrower to the Agent and the Banks (or with respect to the Interest Hedge Agreements, any Affiliates of the Banks) under this Agreement, the Notes, the Letter of Credit Documents, and the other Credit Documents and any increases, extensions, and rearrangements of those obligations under any amendments, supplements, and other modifications of the documents and agreements creating those obligations.

  • 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.

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

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

  • 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.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • 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.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • 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.

  • 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 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.

  • 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 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 Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter 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.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

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