LC Issuance definition

LC Issuance means the issuance of any Letter of Credit by any LC Issuer for the account of an LC Obligor in accordance with the terms of this Agreement, and shall include any amendment thereto that increases the Stated Amount thereof or extends the expiry date of such Letter of Credit.
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LC Issuance means the issuance of any Letter of Credit by any LC Issuer for the account of an LC Obligor in accordance with the terms of this Agreement; provided, however, that “LC Issuance” shall not include any auto renewal of a Letter of Credit under Section 2.05(c).
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LC Issuance means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the renewal or increase of the amount thereof.
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Examples of LC Issuance in a sentence

  • Borrower shall pay to Agent, for the sole benefit of Issuing Bank, nonrefundable issuance fees for the Letters of Credit (the "LC Issuance Fees") equal to seventy-five one-thousandths of one percent (0.075%) per annum on the daily average undrawn amount of each Letter of Credit for the period beginning on the date such Letter of Credit is issued and ending on the date such Letter of Credit expires.

  • The Administrative Agent shall promptly give each Lender, as applicable, written notice (or telephonic notice promptly confirmed in writing) of each proposed Borrowing, or Conversion or Continuation thereof, and LC Issuance, and of such Xxxxxx’s proportionate share thereof or participation therein and of the other matters covered by the Notice of Borrowing, Continuation or Conversion, or LC Request, as the case may be, relating thereto.

  • The aggregate amount of the outstanding Letters of Credit issued by any Issuing Bank shall not exceed such Issuing Bank’s LC Issuance Limit and the aggregate amount of all outstanding Letters of Credit issued by all Issuing Banks shall not exceed the LC Commitment.

  • Without limiting the generality of the foregoing, the making of a Loan or any LC Issuance shall not be construed as a waiver of any Default Default or Event of Default at the time.

  • In addition to the LC Usage Fees and the LC Issuance Fees, Borrower shall pay to Agent, for the benefit of Issuing Bank, other standard fees of Issuing Bank for drawings under, transfers of and amendments to any Letter of Credit and other administrative actions performed by Issuing Bank in connection with any Letter of Credit, payable at such times and in such amounts as are consistent with Issuing Bank's standard fee policy at the time of such amendment or other action.

  • The Administrative Agent (and in the case of subpart (B) below, the applicable LC Issuer) shall have received, as applicable, (A) a Notice of Borrowing, Continuation or Conversion meeting the requirements of Section 2.3 with respect to the Borrowing of a Loan, or (B) an LC Request meeting the requirements of Section 2.4 (b) with respect to each LC Issuance.

  • The Borrower agrees to pay directly to each LC Issuer upon each LC Issuance, drawing under, or amendment, extension, renewal or transfer of, a Letter of Credit issued by it such amount as shall at the time of such LC Issuance, drawing under, amendment, extension, renewal or transfer be the processing charge that such LC Issuer is customarily charging for issuances of, drawings under or amendments, extensions, renewals or transfers of, letters of credit issued by it.

  • Borrower shall pay the LC Issuance Fees for each Letter of Credit quarterly in arrears on the last day in each March, June, September and December (commencing June 30, 1998) and on the Maturity Date.

  • The LC Issuance Fees are paid to only those participants who are identified as issuers of LC.


More Definitions of LC Issuance

LC Issuance means any Canadian LC Issuance or Revolving Facility LC Issuance.
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LC Issuance means any Revolving Facility LC Issuance.
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LC Issuance means the issuance, amendment or extension of any Letter of Credit hereunder.
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LC Issuance means the issuance of any Letter of Credit by any LC Issuer for the account of an LC Obligor in accordance with the terms of this Agreement, and shall include any amendment thereto that increases the Stated Amount thereof or extends the expiry date of such Letter of Credit. “LC Issuer” means KeyBank National Association or any of its Affiliates, or such other Lender that is requested by the U.S. Borrower and agrees to be an LC Issuer hereunder (provided that any such Lender is entitled to agree or decline in its sole discretion) and is approved by the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed). “LC Obligor” means, with respect to each LC Issuance, the U.S. Borrower or the Restricted Subsidiary for whose account such Letter of Credit is issued. “LC Outstandings” means, at any time, the sum, without duplication, of (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the aggregate amount of all Unpaid Drawings with respect to Letters of Credit. “LC Participant” has the meaning provided in Section 2.05(g). “LC Participation” has the meaning provided in Section 2.05(g). “LC Request” has the meaning provided in Section 2.05(b). “Lead Arrangers” means Credit Suisse Securities (USA) LLC, KeyBanc Capital Markets Inc., SunTrust Xxxxxxxx Xxxxxxxx, Inc., Xxxxxxx Sachs Bank USA, Xxxxxx Xxxxxxx Senior Funding, Inc., Citizens Bank, National Association and ING Capital LLC, as joint lead arrangers and joint bookrunners of the Credit Facilities in effect on the Closing Date. “Leaseholds” of any Person means all the right, title and interest of such Person as lessee or licensee in, to and under leases or licenses of land, improvements and/or fixtures. “Legal Reservations” means, with respect to the Non-U.S. EMEA Credit Parties or (solely with respect to assets pledged under laws other than the United States, any State thereof, or the District of Columbia) any U.S. Credit Party: (i) the principle that equitable remedies are remedies which may be granted or refused at the discretion of the court, the principle of reasonableness and fairness, the limitation of enforcement by laws relating to bankruptcy, insolvency, liquidation, reorganisation, court schemes, moratoria, administration and other laws generally affecting the rights of creditors and secured creditors; (ii) the time barring of claims under the Limitation Acts or any applicable limitation statutes, the possibility that an undertaking to assu...
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LC Issuance means the issuance of any Letter of Credit by any LC Issuer for the account of an LC Obligor in accordance with the terms of this Agreement; provided, however, that “LC Issuance” shall not include any auto renewal of a Letter of Credit under S ection 2.05(c).
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Related to LC Issuance

  • LC Issuing Bank means each Lender identified as an “LC Issuing Bank” on Schedule II and any other Lender or Affiliate of a Lender that shall agree to issue a Letter of Credit pursuant to Section 2.04.

  • Issuing Lenders means all such Persons, collectively.

  • 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.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Issuing Banks shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Issuing Lender means, with respect to any Letter of Credit, the Lender which agrees or is otherwise obligated to issue such Letter of Credit, determined as provided in subsection 3.1B(ii).

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

  • Letter of Credit Exposure means, with respect to any Lender, at any time, the sum of (a) the Dollar Equivalent amount of the principal amount of any Unpaid Drawings in respect of which such Lender has made (or is required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a) at such time and (b) such Lender’s Revolving Credit Commitment Percentage of the Letters of Credit Outstanding at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of which the Lenders have made (or are required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a)).

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Letter of Credit Expiration Date means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Usage means, as at any date of determination, the sum of (i) the maximum aggregate amount which is or at any time thereafter may become available for drawing under all Letters of Credit then outstanding plus (ii) the aggregate amount of all drawings under Letters of Credit honored by Issuing Lenders and not theretofore reimbursed out of the proceeds of Revolving Loans pursuant to subsection 3.3B or otherwise reimbursed by Company.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Letters of Credit as defined in Section 3.1(a).