Required Letter of Credit Amount definition

Required Letter of Credit Amount means (i) at any time when the -------------------------------- aggregate principal amount of Loans outstanding is less than or equal to $125,000,000, an amount equal to 10.0% of the aggregate principal amount of Loans outstanding at such time, and (ii) at any time when the aggregate principal amount of Loans outstanding is greater than $125,000,000, an amount equal to 5.0% of the aggregate principal amount of Loans outstanding at such time.
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Required Letter of Credit Amount means an amount equal to (i) in the case of any period prior to February 1, 2010, $512,070.00 and (ii) in the case of any period on or after February 1, 2010 but prior to the Replacement Effective Date, $256,035.00 and (iii) in the case of any period on or after the Replacement Effective Date, $134,888.00.
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Required Letter of Credit Amount means, with respect to any date of determination, the greater of (i) the Series 2001-3 Minimum Credit Support Amount less the Series 2001-3 Available Subordinated Amount on such date of determination and (ii) the Minimum Liquidity Amount less the Cash Liquidity Amount on such date of determination.
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Examples of Required Letter of Credit Amount in a sentence

  • There are three “Credit Events.” The first is if and when Seller or Seller Parent Guarantor (whichever’s creditworthiness has led to the reduction in the Required Letter of Credit Amount or the Required Liquid Credit Support Amount) does not have an Eligible Agency Rating that is “Acceptable” under the criteria provided above, unless an Eligible Agency Rating was not the basis for the “Acceptable” rating prior to the Credit Event.

  • A “Credit Event” will negate any reduction in the Required Letter of Credit Amount or the Required Liquid Credit Support Amount and require Seller to provide the full, unadjusted Required Letter of Credit Amount or Required Liquid Credit Support Amount.

  • At that point, subject to certain exceptions for BOT transactions provided in the Model BOT Agreement, and so long as Seller has provided to ETI a Seller Parent Guaranty that remains in full force and effect (if the Credit Event terminates after execution of the Definitive Agreement), Seller will be eligible to obtain the reduction in the Required Letter of Credit Amount or Required Liquid Credit Support Amount shown in Table 4 above.

  • In addition, one of the following tables for a BOT Agreement (Table 3) shows a contingent Letter of Credit Milestone, which could occur at or after the Closing, and the associated Required Letter of Credit Amount.

  • Table 3 provides for a contingent Letter of Credit Milestone and the associated Required Letter of Credit Amount (the “Supplemental Letter of Credit Amount”).

  • At that point, subject to certain exceptions for BOT transactions provided in the Model BOT Agreement, Seller will be eligible to obtain the reduction in the Required Letter of Credit Amount or Required Liquid Credit Support Amount shown in Table 5 above.

  • At that point, subject to certain exceptions for BOT transactions provided in the Model BOT Agreement, and so long as Seller has provided to EAL a Seller Parent Guaranty that remains in full force and effect (if the Credit Event terminates after execution of the Definitive Agreement), Seller will be eligible to obtain the reduction in the Required Letter of Credit Amount or Required Liquid Credit Support Amount shown in Table 4 above.

  • Distributions of each series may vary due to the differences in expenses between the series.

  • If the amount available under the Developer Letter of Credit is less than the Required Letter of Credit Amount as specified in such Written Certificate, the Developer shall cause the available amount under the Developer Letter of Credit to be increased to an amount equal to the Required Letter of Credit Amount as specified in such Written Certificate no later than October 1 of the following Bond Year.

  • At that point, subject to certain exceptions for BOT transactions provided in the Model BOT Agreement, Seller will be eligible to obtain the reduction in the Required Letter of Credit Amount or Required Liquid Credit Support Amount shown in Table 4 above.


More Definitions of Required Letter of Credit Amount

Required Letter of Credit Amount means, with respect to any parcel or parcels within the Community Facilities District, for each Bond Year, an amount equal to 300% of the Share of MADS that would be applicable to such parcel or parcels for the Fiscal Year ending in such Bond Year.
Sample 1
Required Letter of Credit Amount means an amount equal to $512.070.00, as may be adjusted pursuant to the immediately following sentence. Notwithstanding the foregoing, the parties agree that if on the Termination Notice Final Date (as defined in Section 4.03 hereof) (i) Tenant shall not have exercised the Termination Option and (ii) Tenant’s financial condition is then similar (as reasonably determined by Landlord by reference to Tenant’s periodic reports as filed with the U.S. Securities and Exchange Commission) to Tenant’s financial condition as of March 31, 2005, then on the Termination Notice Final Date the Required Letter of Credit Amount shall be reduced to $256,035.00; provided, however, that in no event shall the Required Letter of Credit Amount be reduced to $256,035.00 unless and until Landlord shall have conveyed in writing to Tenant that the condition described in clause (ii) above has been satisfied.
Sample 1
Required Letter of Credit Amount means, (a) with respect to any date of determination prior to the full investment of proceeds from the offering of the Series 2001-2 Notes in Group V Collateral other than cash, the greatest of (i) the Series 2001-2 Minimum Credit Support Amount less the Series 2001-2 Available Subordinated Amount on such date of determination, (ii) the Minimum Liquidity Amount less the Cash Liquidity Amount, on such date of determination and (iii) 15% (or a lower percentage upon confirmation from Moody's that such lower percentage will not result in the reduction or withdrawal of its then current rating on the Series 2001-2 Notes) of the sum of the Group V Aggregate Type I Repurchase Asset Amount and the Group V Aggregate Type II Repurchase Asset Amount, and (b) with respect to any date of determination on or after the full investment of proceeds from the offering of the Series 2001-2 Notes in Group V Collateral other than cash, the greatest of (i) the Series 2001-Minimum Credit Support Amount less the Series 2001-2 Available Subordinated Amount on such date of determination, (ii) the Minimum Liquidity Amount less the Cash Liquidity Amount on such date of determination, and (iii) 15% (or a lower percentage upon confirmation from Moody's that such lower percentage will not result in the reduction or withdrawal of its then current rating on the Series 2001-2 Notes) of the Series 2001-2 Invested Amount.
Sample 1
Required Letter of Credit Amount means the Series 1997-2 Minimum Credit Support Amount less the Available Subordinated Amount, but in no event less than the Liquidity Amount.
Sample 1

Related to Required Letter of Credit Amount

  • 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.

  • 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.

  • 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.

  • 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.

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

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

  • 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.

  • 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 Agreement has the meaning specified in Section 2.03(a).

  • 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.

  • Credit Amount has the meaning set forth in Section 4.01(b)(ii).

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

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

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

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

  • 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)).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

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

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

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

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • 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).