Domestic Letter of Credit definition

Domestic Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of a Domestic Borrower.

Domestic Letter of Credit means each Letter of Credit issued hereunder for the account of the Domestic Borrowers.

Domestic Letter of Credit means any letter of credit issued (or deemed issued) pursuant to Section 2.23 and designated (or deemed designated) as such.

Examples of Domestic Letter of Credit in a sentence

• Upon the drawing of any Domestic Letter of Credit for which funds are on deposit as cash collateral, such funds shall be applied to reimburse the L/C Issuer and, to the extent not so applied, shall thereafter be applied to satisfy other Obligations.

• The Parent Borrower shall pay directly to the Domestic L/C Issuer for its own account, in Dollars, a fronting fee with respect to each Domestic Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the actual daily maximum amount available to be drawn under such Domestic Letter of Credit (whether or not such maximum amount is then in effect under such Domestic Letter of Credit) and on a quarterly basis in arrears.

• In determining whether to pay under any Domestic Letter of Credit, the Domestic L/C Issuer shall be responsible only to determine that the documents and certificates required to be delivered under the Domestic Letter of Credit have been delivered and that they comply on their face with the requirements of the Domestic Letter of Credit.

• Each request by the Parent Borrower for the issuance or amendment of a Domestic Letter of Credit shall be deemed to be a representation by the Parent Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence.

• Notwithstanding anything to the contrary contained herein, upon the request of the Required Domestic Revolving Lenders, while any Event of Default exists, all Domestic Letter of Credit Fees shall accrue at the Default Rate.

More Definitions of Domestic Letter of Credit

Domestic Letter of Credit if issued or deemed issued under the Domestic Revolving Credit Commitments and shall be a “Multicurrency Letter of Credit” if issued or deemed issued under the Multicurrency Revolving Credit Commitments.

Domestic Letter of Credit means any standby letter of credit issued hereunder by the Domestic L/C Issuer. 

Domestic Letter of Credit if an Existing Letter of Credit and listed on Schedule 1.01(d) as a Domestic Letter of Credit or if issued or deemed issued under the Domestic Revolving Credit Commitments, a “Multicurrency Letter of Credit” if an Existing Letter of Credit and listed on Schedule 1.01(d) as a Multicurrency Letter of Credit or issued or deemed issued under the Multicurrency Revolving Credit Commitments or a “U.K. Letter of Credit” if issued or deemed issued under the U.K. Revolving Credit Commitments.

Domestic Letter of Credit means any letter of credit denominated in Dollars and issued by the Domestic L/C Issuer for the account of an L/C Account Party pursuant to the terms of this Agreement.

Domestic Letter of Credit means any standby letter of credit issued hereunder by the Domestic L/C Issuer.

Domestic Letter of Credit means any Letter of Credit issued pursuant to Section 2.10(a)(i).

Domestic Letter of Credit means any Letter of Credit denominated in Dollars.