LC Subcommitment definition

LC Subcommitment means $50 million or, if less, the Aggregate Commitment at the time of determination, as such amount may be reduced at or prior to such time pursuant to the terms hereof.
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LC Subcommitment means $60,000,000 or, if less, the aggregate Commitments at the time of determination, as such may be reduced at or prior to such time pursuant to the terms hereof.
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LC Subcommitment means the lesser, as of any date of determination, of (i) $100,000,000 and (ii) the Facility Amount.
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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.


More Definitions of LC Subcommitment

LC Subcommitment means $300 million or, if less, the Aggregate Commitment at the time of determination, as such amount may be reduced at or prior to such time pursuant to the terms hereof.
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Related to LC Subcommitment

  • 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.

  • Canadian Revolving Commitment means, with respect to each Canadian Revolving Lender, the commitment, if any, of such Lender to make Canadian Revolving Loans hereunder up to the amount set forth and opposite such Lender’s name on Schedule 2.01 under the caption “Canadian Revolving Commitment,” or in the Assignment and Assumption Agreement pursuant to which such Lender assumed its Canadian Revolving Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.07, (b) reduced or increased from time to time pursuant to Section 2.20 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 12.04. The aggregate amount of the Canadian Revolving Lenders’ Canadian Revolving Commitments on the Closing Date is $15,000,000.

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • LC Commitment means that portion of the Aggregate Revolving Commitments that may be used by the Borrower for the issuance of Letters of Credit in an aggregate face amount not to exceed $20,000,000.

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Restatement Date is $265,000,000.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.