Tranche A Letter of Credit definition

Tranche A Letter of Credit means a Letter of Credit issued pursuant to the Tranche A Commitment.

Tranche A Letter of Credit means any Letter of Credit issued under the Revolving A Facility.

Tranche A Letter of Credit means any letter of credit issued hereunder by a Tranche A L/C Issuer prior to the Third Amendment Effective Date. A Tranche A Letter of Credit may be a commercial letter of credit (if available to be issued by the applicable L/C Issuer) or a standby letter of credit.

Examples of Tranche A Letter of Credit in a sentence

• In the event that any Borrowing Base Certificate reflects a Borrowing Base deficiency for any Designated Subsidiary Borrower for whose account a Tranche A Letter of Credit has been issued, on the date such Borrowing Base deficiency is cured, such Designated Subsidiary Borrower shall issue a revised Borrowing Base Certificate reflecting such cure.

• No later than the tenth Business Day of each month, a Borrowing Base Certificate from each Designated Subsidiary Borrower for whose account a Tranche A Letter of Credit has been issued as of the last day of the immediately preceding month, executed by an Responsible Officer of such Designated Subsidiary Borrower.

• The Sixth Amendment provided for a reduction in the "Tranche A Letter of Credit Sublimit" from $14,200,000 to $12,200,000.

• To the extent necessary to implement the foregoing, the identification of a Letter of Credit as a Revolving Letter of Credit or a Tranche A Letter of Credit may change from time to time and a portion of a Letter of Credit may be deemed to be a Tranche A Letter of Credit and the remainder be deemed to be a Revolving Letter of Credit.

• If any Tranche A Letter of Credit remains outstanding on the Tranche A Maturity Date, the Borrower will deposit with the Administrative Agent an amount in cash equal to 100% of the aggregate undrawn amount of such Letter of Credit to secure the Borrower's reimbursement obligations with respect to any drawings that may occur thereunder.

More Definitions of Tranche A Letter of Credit

Tranche A Letter of Credit means a letter of credit that is issued by a Fronting Bank pursuant to a Request for Issuance specifying that such letter of credit is to use the Tranche A Commitments, as such letter of credit may from time to time be amended, modified or extended in accordance with the terms of this Agreement.

Tranche A Letter of Credit as defined in subsection 8.1(c).

Tranche A Letter of Credit means a Letter of Credit issued pursuant to -------------------------- the Tranche A Commitment. Tranche B Borrowing Base means, the sum of (a) 50% of the Fair Market ------------------------ Value of all Private Investment Funds plus (b) an amount equal to the difference between the Tranche A Borrowing Base and the Tranche A LC Obligations.

Tranche A Letter of Credit each Existing Letter of Credit (or portion thereof) set forth under the heading "Tranche A Letters of Credit" on Schedule 1.1 hereto, and each renewal thereof.

Tranche A Letter of Credit means any letter of credit issued pursuant to Section 2.20(a).

Tranche A Letter of Credit means each Letter of Credit that (i) was issued prior to the Tranche A Availability Period End Date and, together with all previously issued and outstanding Tranche A Letters of Credit, has an aggregate LOC Amount at the time of issuance of less than or equal to the Tranche A LOC Commitment and is not otherwise issued as a Tranche B Letter of Credit as permitted under this Agreement and (ii) has not been extended on or after the Tranche A Availability Period End Date. (g) The definition of “Tranche A LOC Commitment” in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “Tranche A LOC Commitment” is equal to $60,000,000. (h) The definition of “Tranche B Availability Period End Date” in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “Tranche B Availability Period End Date” means 31 October 2019, or if such date is not a Business Day, the next succeeding Business Day. (i) The definition of “Tranche B Letter of Credit” in Section 1.01 (Defined Terms) is hereby amended by deleting such definition in its entirety and inserting in its place the following: “Tranche B Letter of Credit” means each Letter of Credit that either (i) was issued prior to the Tranche A Availability Period End Date and, together with all previously issued and outstanding Tranche A Letters of Credit, has an aggregate Tranche A LOC Amount at the time of issuance greater than the Tranche A LOC Commitment (provided that the Borrower may by notice to the Issuing Lender elect for a Letter of Credit to be a Tranche B Letter of Credit where the aggregate LOC Amount of all issued and outstanding Tranche A Letters of Credit is greater than $40,000,000, or such other amount as agreed and confirmed in writing by the Issuing Lender in its sole discretion) and is not a Tranche A Letter of Credit, or (ii) was issued or extended on or after the Tranche A Availability Period End Date but prior to the Tranche B Availability Period End Date, or (iii) is a Tranche A Letter of Credit that has been amended to increase the LOC Amount, resulting in all issued and outstanding Tranche A Letters of Credit having an aggregate LOC Amount that is greater than the Tranche A LOC Commitment, in which case such Tranche A Letter of Credit shall be re-designated as a Tranche B Letter of Credit. (j) The definition of “Tranche B LOC Commitment” in Section 1.01 (...

Tranche A Letter of Credit means a Letter of Credit as to which the Administrative Agent may apply Tranche A Deposits for purposes of reimbursing Tranche A LC Disbursements in accordance with Section 2.05.