Undrawn LC Amount definition
Undrawn LC Amount means, with respect to any Letter of Credit at any time, the maximum amount of such Letter of Credit outstanding at such time available to be drawn, including (in the case of Revolving Letters of Credit and otherwise) amounts that are then contingently available to be drawn, by increase, reinstatement or otherwise. For purposes hereof, the amount of any obligation of the Bank to pay any time draft or similar instrument presented to or accepted by the Bank as part of a drawing under a Letter of Credit shall be included in the calculation of Undrawn LC Amount for such Letter of Credit until such amount is paid by the Bank.
Undrawn LC Amount means, at any time, the aggregate undrawn amount of all Letters of Credit outstanding at such time.