LC Commitment definition

LC Commitment means that portion of the Aggregate Revolving Commitments that may be used by the Borrower for the issuance of Letters of Credit in an aggregate face amount not to exceed $10,000,000.
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LC Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.18.
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LC Commitment means, as to each Issuing Bank, the commitment of such Issuing Bank to issue Letters of Credit pursuant to Section 2.05. The initial amount of each Issuing Bank’s LC Commitment is set forth on Schedule 2.05 or in such Issuing Bank’s Issuing Bank Agreement.
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Examples of LC Commitment in a sentence

  • Any such reduction in the Aggregate Revolving Commitment Amount below the principal amount of the LC Commitment shall result in a dollar-for-dollar reduction in the LC Commitment.

  • If requested by the Co-Issuers in writing and with the prior written consent of the L/C Provider and the Administrative Agent, the L/C Provider may (but shall not be obligated to) increase the amount of the L/C Commitment; provided that, after giving effect thereto, the aggregate amount of the Swingline Commitment and the L/C Commitment does not exceed the aggregate Commitment Amount.

  • The appointment and authority of the Administrative Agent hereunder shall terminate upon the indefeasible payment in full of the Series 2025-1 Class A-1 Notes and all other amounts owed by the Co-Issuers hereunder to the Administrative Agent, all members of the Investor Groups, the Swingline Lender and the L/C Provider (the “Aggregate Unpaids”) and termination in full of all Commitments and the Swingline Commitment and the L/C Commitment.

  • The Series 2025-1 Class A-1 L/C Notes shall bear a face amount equal in the aggregate to up to the L/C Commitment as of the Series 2025-1 Closing Date, and shall be initially issued in an aggregate amount equal to the Series 2025-1 Class A-1 Initial Aggregate Undrawn L/C Face Amount pursuant to Section 2.01(b)(ii) of this Series 2025-1 Supplement.


More Definitions of LC Commitment

LC Commitment means the commitment of an Issuing Bank to issue Letters of Credit pursuant to Section 2.17; provided that at no time shall the LC Commitment exceed the Revolving Commitment. The amount of the LC Commitment shall be $20,000,000 on the Closing Date.
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LC Commitment means that portion of the Aggregate Revolving Commitments that may be used by the Borrower for the issuance of Letters of Credit in an aggregate face amount not to exceed $50,000,000.
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LC Commitment means, as to any Issuing Bank, the maximum permitted amount of the LC Exposure that may be attributable to Letters of Credit issued by such Issuing Bank. The initial amount of each Issuing Bank’s LC Commitment is set forth on Schedule 2.01 or in such Issuing Bank’s Issuing Bank Agreement.
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LC Commitment at any time means $50,000,000.
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LC Commitment means $5,000,000.
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LC Commitment at any time means twenty-five million dollars ($25,000,000).
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LC Commitment means as to any LC Issuing Bank (i) the amount set forth opposite such LC Issuing Bank’s name on Schedule 1 hereof or (ii) if such LC Issuing Bank has entered into an Assignment and Assumption, the amount set forth for such LC Issuing Bank as its LC Commitment in the Register maintained by the Administrative Agent pursuant to Section 7.13.2.
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