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.
View Source
Undrawn LC Amount means, at any time, the aggregate undrawn amount of all Letters of Credit outstanding at such time.
View Source

Related to Undrawn LC Amount

  • Undrawn Amount means, with respect to any Letter of Credit, at any time, the maximum amount available to be drawn under such Letter of Credit at such time and “Undrawn Amounts” means, at any time, the sum of all Undrawn Amounts at such time.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Undrawn Fee a fee payable pursuant to Section 3.2 for each day of the related Collection Period equal to the product of (x) the aggregate Commitments on such day minus the aggregate principal amount of outstanding Advances on such day times (y) the Undrawn Fee Rate times (z) 1/360.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.