L/C Participation definition

L/C Participation shall have the meaning provided in Section 3.3(a).

L/C Participation as defined in Section 3.3(a).

L/C Participation shall have the meaning provided in Section 2A.04(a).

Examples of L/C Participation in a sentence

• All LC Participation Fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

• Accrued LC Participation Fees shall be payable in arrears (A) on the last Business Day of March, June, September and December of each year, commencing on the first such date to occur after the Closing Date, and (B) on the date on which all of the Revolving Commitments terminate.

• All calculations of the L/C Participation Percentages shall be made from time to time by the Administrative Agent, which calculations shall be conclusive absent manifest error.

• Refunding of Swingline Loans; Reallocation of Swingline Commitment and Euro Swingline Commitment 34 2.6. L/C Commitment 37 2.7. Procedure for Issuance of Letters of Credit 38 2.8. L/C Participation 40 2.8A.

• On the date that any New Lender becomes a party to this Agreement or an existing Lender increases its L/C Commitment, in each case in accordance with Section 2.18, L/C Participation Interests in all outstanding Letters of Credit held by each of the Lenders (including any New Lender) shall automatically be reallocated to reflect the Lenders’ L/C Commitment Percentages at such time.

More Definitions of L/C Participation

L/C Participation shall have the meaning ascribed to that term in Section 3.4(a).

L/C Participation means a US L/C Participation or a Cdn L/C Participation.

L/C Participation shall have the meaning ascribed to that term in SECTION 3.4. "L/C PARTICIPATION FUNDING AMOUNT" shall have the meaning ascribed to that term in SECTION 3.6(b)(i)(A). "L/C PARTICIPATION FUNDING DATE" shall have the meaning ascribed to that term in SECTION 3.6(b)(ii). "L/C PARTICIPATION FUNDING NOTICE" shall have the meaning ascribed to that term in SECTION 3.6(b)(i)(A).

L/C Participation means, as to any Lender at any time, with respect to all Letters of Credit, the product of the L/C Obligations and such Lender’s Commitment Percentage and, with respect to any particular Letter of Credit, the product of the L/C Obligations applicable solely to that particular Letter of Credit and such Lender’s Commitment Percentage.

L/C Participation shall have the meaning provided in Section 3.3(a). “Lead Arranger” shall mean Scotia Capital.

L/C Participation shall have the meaning provided in Section 3.3(a). “Lender” and “Lenders” shall have the meanings provided in the preamble to this Agreement. “Lender Financials” shall have the meaning provided in Section 1.8. “Lender Insolvency Event” means (a) a Lender becoming insolvent or becoming the subject of a bankruptcy or insolvency proceeding or (b) an event of the kind referred to in Section 11.5 occurs with respect to such Lender or its Parent Company (as if the references in such provisions to the Borrower or Specified Subsidiary referred to such Lender or Parent Company); provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a governmental authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such governmental authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. “Lending Office” means, with respect to any Revolving Credit Lender, the office of such Lender (or an Affiliate of such Lender) specified as its “Lending Office” on Schedule 1.1(d) or, as to any Person that becomes a Revolving Credit Lender after the Closing Date, in the Assignment and Assumption executed by such Person, or such other office of such Lender (or an Affiliate of such Lender) as such Lender may hereafter designate from time to time as its “Lending Office” by notice to the Borrower and the Administrative Agent. -29- “Letter of Credit” shall have the meaning provided in Section 3.1; provided that, only standby Letters of Credit shall be treated as “Letters of Credit” for purposes of the obligation of the Barclays Letter of Credit Issuer or the Xxxxxxx Sachs Letter of Credit Issuer to issue Letters of Credit under this Agreement. “Letter of Credit Commitment” shall mean $50,000,000, as the same may be reduced from time to time pursuant to Section 3.1; provided, that no Barclays Letter of Credit Issuer, Credit Suisse Letter of Credit Issuer, Xxxxxxx Xxxxx Letter of Credit Issuer, JPM Letter of Credit Issuer, Citi Letter of Credit Issuer or BMO Letter of Credit Issuer] shall have an obligation to issue a Letter of Credit if the Stated Amount of such Letter of Credit, when added to the...

L/C Participation shall have the meaning provided in Section 3.3(a). “Lender” shall have the meaning provided in the preamble to this Agreement. Unless the context otherwise requires, the term “Lenders” includes the Swingline Lenders.