Fronted Letter of Credit means a Letter of Credit issued by a Fronting Bank in which the Lenders purchase a risk participation pursuant to Section 2.03.
Fronted Letter of Credit means any Letter of Credit which is issued by a Fronting L/C Issuer pursuant to Section 2.03(a), in substantially the form of Exhibit E or in such other form as may be acceptable to such Fronting L/C Issuer. Fronted Letters of Credit may be issued in Dollars or an Alternative Currency.
Fronted Letter of Credit means a letter of credit issued by a Fronting Issuing Bank as the sole issuing bank, and shall include the Continued Existing Fronted Letters of Credit.
Examples of Fronted Letter of Credit in a sentence
Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Fronted Letters of Credit is absolute, irrevocable and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any such Fronted Letter of Credit or the occurrence and continuance of a Default or Event of Default or reduction or termination of the Aggregate Commitments.
So long as any Lender is a Defaulting Lender, no Fronting Bank shall be required to issue, extend, increase, reinstate or renew any Fronted Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.
More Definitions of Fronted Letter of Credit
Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.
Fronted Letter of Credit has the meaning provided in Section 2.02(a).
Fronted Letter of Credit has the meaning attributed to it in Section 11.1(a).
Fronted Letter of Credit a Letter of Credit issued by an Issuing Lender in which the Lenders purchase risk participations pursuant to Section 3.4(a).
Fronted Letter of Credit means a Letter of Credit issued by the Fronting Bank in which the Lenders purchase a risk participation pursuant to Section 2.09 which shall be substantially the form as may be agreed by the Borrower and the Fronting Bank.
Fronted Letter of Credit means a Letter of Credit issued by the Fronting Bank in which the Lenders purchase a risk participation pursuant to Section 3.1(b).
Fronted Letter of Credit means a Letter of Credit issued by an Issuing Lender in which the Lenders purchase risk participations pursuant to Section 2.03.