Examples of LC Subcommitment in a sentence
On the Termination Date, all outstanding Advances shall be due and payable and the Facility Amount and LC Subcommitment shall be automatically and permanently reduced to zero.
If at any time, by reason of any voluntary or mandatory Facility Reduction or for any other reason, the LC Exposure exceeds the then LC Subcommitment, the Borrower shall immediately deposit Dollars in an amount equal to such excess to the XX Xxxx Collateral Account.
If the Total Revolving Credit Commitment Amount is reduced to an amount less than the Domestic L/C Subcommitment, the Domestic L/C Subcommitment shall automatically be deemed reduced to an amount equal to the Total Revolving Credit Commitment Amount.
If the Total Revolving Credit Commitment Amount is reduced to any amount less than the Sterling L/C Subcommitment, the Sterling L/C Subcommitment shall automatically be deemed reduced to an amount equal to the Total Revolving Credit Commitment Amount.
If at any time, by reason of any voluntary or mandatory Revolving Facility Reduction or for any other reason, the LC Exposure exceeds the then LC Subcommitment, the Borrower shall immediately deposit Dollars in an amount equal to such excess to the LC Cash Collateral Account.
Unless otherwise specified by the Borrower in the applicable notice, the Swing Line Subcommitment and the L/C Subcommitment shall not be reduced by any such reduction unless and until the aggregate Revolving Loan Commitments are reduced to an amount less than the Swing Line Subcommitment and the L/C Subcommitment in which case the Swing Line Subcommitment and the L/C Subcommitment shall be reduced to such amount.
If at any time, by reason of any voluntary or mandatory Facility Reduction or for any other reason, the LC Exposure exceeds the then LC Subcommitment, the Borrower shall immediately deposit Dollars in an amount equal to such excess to the Citibank Collateral Account in the manner described in Section 7.02.