Underlying Letter of Credit means a documentary letter of credit that has been issued by an Underlying Issuer.
Examples of Underlying Letter of Credit in a sentence
If requested by the Issuing Lender, Borrower also shall be an applicant under the application with respect to any Underlying Letter of Credit that is to be the subject of an L/C Undertaking.
Anything contained herein to the contrary notwithstanding, the U.S. Issuing Lender may, but shall not be obligated to issue, or cause the issuance of a U.S. Letter of Credit or to issue a U.S. Reimbursement Undertaking in respect of a U.S. Underlying Letter of Credit, in either case, that supports the obligations of a Loan Party or its Subsidiaries in respect of (1) a lease of real property, or (2) an employment contract.
More Definitions of Underlying Letter of Credit
Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer. "United States" means the United States of America.
Underlying Letter of Credit a letter of credit (as that term is defined in the UCC) that has been issued by an Underlying Issuer. Underlying Letters of Credit do not constitute Letters of Credit hereunder.
Underlying Letter of Credit means a U.S. Letter of Credit and/or a Canadian Letter of Credit, as the context requires.
Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer. “Voidable Transfer” has the meaning set forth in Section 17.7.
Underlying Letter of Credit means any Revolver Facility Underlying Letter of Credit or L/C Facility B Underlying Letter of Credit.
Underlying Letter of Credit means a Letter of Credit that has been issued by an Underlying Issuer. “Unfunded Capital Expenditures” means, as to the Borrower or any Subsidiary, without duplication, a Capital Expenditure funded (a) from such Person’s internally generated cash flow or (b) with the proceeds of a Loan. “Unintentional Overadvance” means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Secured Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base, increase in Reserves or misrepresentation by the Loan Parties. “United States” and “U.S.” mean the United States of America. “Unreimbursed Amount” has the meaning specified in Section 2.03(f). “Unsecured Notes” means, collectively, (x) those certain 8.125% Senior Notes due 2026 issued by the Borrower under the Unsecured Notes Indenture, in an aggregate principal amount of $193,034,475 as of the Closing Date, (y) those certain 6.50% Senior Notes due 2026 issued by the Borrower under the Unsecured Notes Indenture, in an aggregate principal amount of $151,440,250 as of the Closing Date, and (z) any additional unsecured Senior Notes issued under the Unsecured Notes Indenture by the Borrower made in accordance with the terms hereof. “Unsecured Notes Documents” means, collectively, the Unsecured Notes, the Unsecured Notes Indenture, and all agreements, contracts, instruments, and documents executed in connection therewith, in each case as such agreement, contract, instrument, or document may be amended, modified, supplemented, renewed, restated or replaced from time to time in accordance with the terms hereof.
Underlying Letter of Credit has the meaning given such term in Section 2.11(r).