Letter of Credit Facility definition

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 Facility means the facility described in Article III hereof providing for the issuance by the Issuing Bank for the account of the Borrower of Letters of Credit in an aggregate stated amount at any time outstanding not exceeding the Total Letter of Credit Commitment.

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.

Examples of Letter of Credit Facility in a sentence

• The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of such Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

• At any time and from time to time from April 25, 2011 through the Business Day immediately prior to the Letter of Credit Facility Maturity Date, Bank shall issue for the account of Borrower such Letters of Credit as Borrower may request by delivering to Bank a duly executed letter of credit application on Bank’s standard form; provided, however, that the outstanding and undrawn amounts under all such Letters of Credit shall not at any time exceed the Letter of Credit Facility.

• JPMC Bilateral USD 90,000,000 – USD 80,000,000 First Amended and Restated Loan and Letter of Credit Facility Agreement as amended on 27 January 2009, among CEMEX Materials LLC (f/k/a Xxxxxx Materials LLC), as borrower, and XX Xxxxxx Chase Bank, N.A., as lender.

• Such Letter of Credit Facility may be used for project and equity bridge financing, debt service reserve facilities, contingent equity, power purchase agreement guarantees, transmission connection guarantees, tax equity guarantees and letters of credit for maintenance reserve facilities.

• At the request of the Borrower/s the Bank has agreed to grant and/or granted a Letter of Credit Facility with a limit as specified in the Schedule annexed hereto.

More Definitions of Letter of Credit Facility

Letter of Credit Facility means the facility established pursuant to Section 2.2 (Letter of Credit Facility).

Letter of Credit Facility means, at any time, an amount equal to the least of (a) the aggregate amount of the Issuing Banks’ Letter of Credit Commitments at such time, (b) $250,000,000 and (c) the aggregate amount of the Revolving Credit Commitments, as such amount may be reduced at or prior to such time pursuant to Section 2.05. The Letter of Credit Facility is a sub-facility of the Revolving Credit Facility and not in addition to the Revolving Credit Facility.

Letter of Credit Facility has the meaning specified in Section 2.15(a) hereof.

Letter of Credit Facility means, at any time, an amount equal to the lesser of (a) $2,000,000,000 and (b) the aggregate amount of the Commitments, as such amount may be reduced pursuant to Section 2.4, Section 2.9 or Section 2.20 or increased pursuant to Section 2.20.

Letter of Credit Facility means an aggregate amount not to exceed $250,000,000 at any time outstanding.

Letter of Credit Facility means the credit facility available to Borrower pursuant to Section 2.3 hereof pursuant to which U.S. Bank has issued the direct pay Letter of Credit to the Trustee.

Letter of Credit Facility means the credit facility described as such in Section 2.