UK Fronting Bank definition

UK Fronting Bank. (a) Bank of America (London); JPMorgan Chase Bank, N.A.; Deutsche Bank AG New York Branch; ING Capital LLC; PNC Bank, National Association; Bank of the West and MUFG Union Bank, N.A. or, in each case, any Affiliate or branch thereof that agrees to issue UK Letters of Credit, (b) for purposes of such Existing UK Letters of Credit, any Multicurrency Facility Lender that issued an Existing UK Letter of Credit, and (c) if reasonably acceptable to the Administrative Borrower, any other Multicurrency Facility Lender or Affiliate or branch thereof that agrees to issue UK Letters of Credit.
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UK Fronting Bank. (a) Bank of America (London) or any Affiliate thereof that agrees to issue UK Letters of Credit, (b) if reasonably acceptable to European Loan Party Agent, any other UK Lender or Affiliate thereof that agrees to issue UK Letters of Credit, or (c) if requested by European Loan Party Agent and subject to Section 2.10, a Non-Lender Fronting Bank that agrees to issue UK Letters of Credit. UK Fronting Bank Indemnitees: any UK Fronting Bank and its officers, directors, employees, Affiliates and agents.
Sample 1
UK Fronting Bank means Fleet or a branch or an Affiliate of Fleet. ----------------
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Examples of UK Fronting Bank in a sentence

  • UK Borrowers shall, within one Business Day of demand by any UK Fronting Bank or Agent from time to time, Cash Collateralize the UK LC Obligations of any Defaulting Lender that is a Multicurrency Facility Lender.

  • The obligation of the Applicable UK Borrower to reimburse each UK Fronting Bank for any payment made under a UK Letter of Credit issued by such UK Fronting Bank shall be absolute, unconditional, irrevocable, and shall be paid without regard to any lack of validity or enforceability of any UK Letter of Credit or the existence of any claim, setoff, defense or other right that the Applicable UK Borrower or Loan Parties may have at any time against the beneficiary.

  • Collectively, the Deeds of Guarantee and Indemnity from the time to time executed and delivered by any of the UK Guarantors, in favor of applicable Lenders, the Agent and the UK Fronting Bank whereby the UK Guarantors guarantee the UK Obligations, and each in form and substance satisfactory to the Agent.

  • UK Borrowers shall, within one Business Day of demand by the UK Fronting Bank or the Agent from time to time, Cash Collateralize the LC Obligations of any Defaulting Lender that is a UK Lender.

  • Collectively, the Deeds of Supplemental Guarantee and Indemnity from the time to time executed and delivered by any of the UK Guarantors, in favor of applicable Lenders, the Agent and the UK Fronting Bank, whereby the UK Guarantors guarantee all the Obligations, and each in form and substance satisfactory to the Agent.

  • If as a result of fluctuations in Exchange Rates or otherwise the Dollar Equivalent of the UK LC Obligations exceeds the UK Letter of Credit Sublimit, the excess amount shall be payable by the UK Borrowers within three (3) Business Days following demand by the Agent or the UK Fronting Bank.

  • Xxxxxxxx Title: Senior Vice President By: /s/ JX Xxxxx Name: JX Xxxxx Title: Senior Vice President MUFG Union Bank, N.A., as Consenting Revolver Lender and US Fronting Bank, UK Fronting Bank and Canadian Fronting Bank By: /s/ Jxxxxx Xxx Name: Jxxxxx Xxx Title: Vice President SUMITOMO MITSUI BANKING CORPORATION, as Consenting Revolver Lender By: /s/ Sxxxxxxxx X Xxxxxxxxx Name: Sxxxxxxxx X.

  • Fronting Bank Indemnitees: (a) Australian Fronting Bank Indemnitees, (b) Belgian Fronting Bank Indemnitees, (c) Canadian Fronting Bank Indemnitees, (d) Dutch Fronting Bank Indemnitees (e) New Zealand Fronting Bank Indemnitees, (f) Norwegian Fronting Bank Indemnitees, (g) Singapore Fronting Bank Indemnitees, (h) UK Fronting Bank Indemnitees, and/or (i) U.S. Fronting Bank Indemnitees, as the context requires.

  • Fronting Bank: (a) an Australian Fronting Bank, (b) a Belgian Fronting Bank, (c) a Canadian Fronting Bank, (d) a Dutch Fronting Bank, (e) a New Zealand Fronting Bank, (f) a Norwegian Fronting Bank, (g) a Singapore Fronting Bank, (h) a UK Fronting Bank, and/or (i) a U.S. Fronting Bank, as the context requires.

Related to UK Fronting Bank

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • LC Issuing Bank means each Lender identified as an “LC Issuing Bank” on Schedule II and any other Lender or Affiliate of a Lender that shall agree to issue a Letter of Credit pursuant to Section 2.04.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Issuing Bank Fees shall have the meaning assigned to such term in Section 2.12(b).

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • Issuing Lender means WFF or any other Lender that, at the request of Administrative Borrower and with the consent of Agent, agrees, in such Lender’s sole discretion, to become an Issuing Lender for the purpose of issuing L/Cs or L/C Undertakings pursuant to Section 2.12.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • Letter of Credit Issuer means such successor or such new issuer of Letters of Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(c) and 4.1(d). The acceptance of any appointment as a Letter of Credit Issuer hereunder whether as a successor issuer or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor issuer of Letters of Credit, in a form satisfactory to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such new or successor issuer of Letters of Credit shall become a “Letter of Credit Issuer” hereunder. After the resignation or replacement of a Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement as Letter of Credit Issuer, the provisions of this Agreement relating to a Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (A) while it was a Letter of Credit Issuer under this Agreement or (B) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • LC means Letter of Credit

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Swing Lender means Xxxxx Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees, in such Lender’s sole discretion, to become the Swing Lender under Section 2.3(b) of the Agreement.

  • Swing Line Bank has the meaning specified in the recital of parties to this Agreement.

  • Issuing Banks means (a) with respect to the Letter of Credit A Facility, each Initial Issuing Bank that has a Letter of Credit A Commitment set forth opposite its name on Schedule I hereto and any other Working Capital A Lender approved as an Issuing Bank by the Agent and, so long as no Default shall have occurred and be continuing, by Crompton Corp. (such approval not to be unreasonably withheld or delayed) and each Eligible Assignee to which a Letter of Credit A Commitment hereunder has been assigned pursuant to Section 8.07 and (b) with respect to the Letter of Credit B-1 Facility, each Initial Issuing Bank that has a Letter of Credit B-1 Commitment set forth opposite its name on Schedule I hereto and any other Working Capital B-1 Lender approved as an Issuing Bank by the Agent and, so long as no Default shall have occurred and be continuing, by Crompton Corp. (such approval not to be unreasonably withheld or delayed) and each Eligible Assignee to which a Letter of Credit B-1 Commitment hereunder has been assigned pursuant to Section 8.07 so long as, in each case, each such Lender or Eligible Assignee expressly agrees to perform in accordance with their terms all of the obligations that by the terms of this Agreement are required to be performed by it as an Issuing Bank and notifies the Agent of its Applicable Lending Office and the amount of its Letter of Credit Commitment (which information shall be recorded by the Agent in the Register).

  • Issuing Lenders means all such Persons, collectively.

  • Canadian Administrative Agent means Royal Bank of Canada in its capacity as Canadian administrative agent for the lenders party to the Canadian Credit Agreement and any successor thereto.

  • Canadian Lender Export Development Canada, a corporation established pursuant to the laws of Canada, and its successors and assigns.

  • Swingline Bank means JPMCB, in its capacity as lender of Swingline Advances hereunder.

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder.

  • Funding Bank shall have the meaning given to such term in Section 3.3 hereof.