Unused Letter of Credit Subfacility definition

Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

Unused Letter of Credit Subfacility means, on any date, an amount equal to $10,000,000 minus the sum of (a) the aggregate undrawn amount of all Letters of Credit outstanding on such date plus, without duplication, (b) the aggregate unpaid reimbursement obligations on such date with respect to all Letters of Credit.

Unused Letter of Credit Subfacility means an amount equal to $5,000,000 MINUS the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit PLUS, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.

Examples of Unused Letter of Credit Subfacility in a sentence

• As of the Business Day immediately preceding the requested issuance date of the Letter of Credit, the Agent shall determine the amount of the applicable Unused Letter of Credit Subfacility and Availability.

• As of the Business Day immediately preceding the requested issuance date of each Letter of Credit, the Agent shall determine the amount of the Unused Letter of Credit Subfacility and the then-current Availability as of such date.

• If (i) the face amount of the requested Letter of Credit is less than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from the Borrower in connection with the opening thereof would not exceed Availability, the Agent shall cause the Letter of Credit Issuer to issue the requested Letter of Credit on the requested issuance date so long as the other conditions hereof are met.

• As of the Business Day immediately preceding the requested issuance date of the Letter of Credit, Agent shall determine the amount of the applicable Unused Letter of Credit Subfacility and Availability.

• If (i) the face amount of the requested Letter of Credit is less than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from the Borrowers in connection with the opening thereof would not exceed Availability, the Agent shall cause the Letter of Credit Issuer to issue the requested Letter of Credit on the requested issuance date so long as the other conditions hereof are met.

More Definitions of Unused Letter of Credit Subfacility

Unused Letter of Credit Subfacility means the amount of the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.

Unused Letter of Credit Subfacility means an amount equal to $20,000,000 minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.

Unused Letter of Credit Subfacility means an amount equal to the lesser of (i) $10,000,000 minus the Letter of Credit Obligations, and (ii) the undrawn portion of the Revolving Loan Commitment Amount of all Lenders.

Unused Letter of Credit Subfacility means an amount equal to $50,000,000, minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit and Credit Support, plus (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit and Credit Support.

Unused Letter of Credit Subfacility means an amount equal to

Unused Letter of Credit Subfacility means, at any time, an amount equal to the Letter of Credit Subfacility at such time minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit issued under the LC Accommodation plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit issued under the LC Accommodation. “U.S. Dollar” and “U.S.$” mean dollars in the lawful currency of the United States of America.

Unused Letter of Credit Subfacility means, with respect to