Definition of Term Letter of Credit Usage

  1. Term Letter of Credit Usage means an amount equal to the face amount of all outstanding Term Letters of Credit plus the aggregate amount of any unpaid obligations in respect of Term Letters of Credit (including all amounts due to any L/C Issuer in connection therewith).

Examples of Term Letter of Credit Usage in a sentence

  1. Any such notice of cancellation or reduction of the Term Letter of Credit Usage shall be accompanied by the payment of all fees (including the Commitment Fee due on the Term Letter of Credit Usage being reduced) accrued through the date of such cancellation or reduction plus payment of the Applicable Reduction Fee.

Definition of Term Letter of Credit Usage in Credit Agreement

Term Letter of Credit Usage means an amount equal to the face amount of all outstanding Term Letters of Credit plus the aggregate amount of any unpaid obligations in respect of Term Letters of Credit (including all amounts due to any L/C Issuer in connection therewith).