Other LC definition

Other LC has the meaning specified in Section 2.03(c)(v).
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Other LC has the meaning specified in Section 2.03(c)(v). “Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or
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Other LC has the meaning specified in Section 2.03(c)(v). “Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are imposed with respect to an assignment (other than an assignment made pursuant to Section 3.01(f) or Section 3.08). “Outstanding Amount” means: (a) with respect to the Term Loans, Revolving Credit Loans and Specified Refinancing Revolving Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of the Term Loans, Revolving Credit Loans (including any refinancing of outstanding unpaid drawings under Letters of Credit or L/C Credit Extensions as a Revolving Credit Borrowing) and Specified Refinancing Revolving Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of
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Examples of Other LC in a sentence

  • Seller shall pay all Other L/C Fees on demand or as otherwise agreed between Seller and such L/C Issuer.

  • On or before the first Business Day after the end of each calendar month each Facility Agent shall furnish the Borrower with an invoice setting forth the amount of the accrued and unpaid Interest, Used Fees, Unused Fees and any Fronting Fees and Other LC Fees payable to the Lenders or the LC Issuer (if applicable) in such Facility Agent’s Lender Group.

  • The Borrower shall pay all Other LC Fees on demand or as otherwise agreed between the Borrower and such LC Issuer.

  • The Administrative Agent, the Issuing Lenders and the Lenders shall be entitled to rely conclusively on the Borrower’s statements in determining whether the limitation set forth in clauses (iii) and (iv) of the preceding sentence are satisfied; and the Administrative Agent, the Issuing Lenders and the Lenders shall not be required to maintain any records with respect to whether or not the Procurement L/C Facility Limit or the Other L/C Facility Limit is exceeded at any time.

  • Ensure that at all times (i) this Agreement, each Letter of Credit, and all Obligations under the Loan Documents are Bank Products and “Bank Products” as defined in the Existing Intercreditor Agreement, (ii) this Agreement and each Letter of Credit is an Other LC Facility, (iii) the Obligations are “Borrower Obligations” and “Guarantor Obligations” as defined in the Guarantee and Collateral Agreement, and (iv) the Obligations are “ABL Obligations” as defined in the Existing Intercreditor Agreement.

  • If any such requested Letter of Credit is a commercial Letter of Credit, Lender will cause the applicable Other LC Issuer to issue such Letter of Credit, so long as such Other LC Issuer has approved its issuance and the LC Conditions for such Letter of Credit have been met, on the third Business Day after request by the applicable Borrower therefor (or such later date as requested in such request or such earlier date as may be agreed to by the applicable LC Issuer).

  • The Letters of Credit shall be used (i) to support workers’ compensation obligations and procurement activities, (ii) for working capital purposes and (iii) general corporate purposes, provided that, the Borrower will request Extensions of Credit hereunder in amounts such that none of the Loan Facility Limit, the Procurement L/C/ Facility Limit and the Other L/C Facility Limit is exceeded at any time.

  • No waiver, consent, release, modification or amendment of or supplement to this Agreement or the other Loan Documents shall be valid or effective against any party hereto unless the same is in writing and signed by (i) if such party is a Credit Party, by such Credit Party, (ii) if such party is LC Issuer, by LC Issuer (or, if LC Issuer is an Other LC Issuer, by Lender on behalf of such Other LC Issuer), and (iii) if such party is Lender, by Lender.

  • Lender will either issue (in its capacity as LC Issuer) or will cause the issuance by an Other LC Issuer of any such Letter of Credit that is a standby Letter of Credit on the third Business Day after request by the applicable Borrower therefor (or such later date as requested in such request), so long as the LC Conditions for such Letter of Credit have been met.

  • All LC Payment Amounts received by Lender shall be paid to the applicable Other LC Issuer in accordance with the terms of this Section 2.8. The Lender shall indemnify the Borrowers for all LC Payment Amounts that it receives in immediately available funds from Borrowers that are not paid to the applicable Other LC Issuer in accordance with the terms hereof.

Related to Other LC

  • Letter of Credit Related Person has the meaning specified therefor in Section 2.11(f) of the Agreement.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $60,000,000.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit D, together with the standard form of application for letter of credit used by the applicable Issuing Bank, signed by a Senior Officer of the applicable Borrower and properly completed to provide all information required to be provided therein.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Drawing means the drawing or drawings specified in or annexed to the Specifications;

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

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

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Letter of Commitment means a letter obtained from the MBE and WBE’s by the Bidders. The Letter of Commitment is a signed letter(s), on company letterhead, from the minority and/or women certified business. It must be produced no later than 24 hours after the bid due date and time. This letter(s) shall state and will serve as acknowledgement from the minority and/or women certified business of their level of participation in this solicitation, the dollar amount of the commitment, the scope of service or product to be provided and the anticipated dates of utilization.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).