Minimum L/C Collateral Amount definition
Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Revolving L/C Exposure with respect to such Letter of Credit at such time and (ii) otherwise, an amount sufficient to provide credit support with respect to such Revolving L/C Exposure as determined by the Administrative Agent and the Issuing Banks in their sole discretion.
Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, an amount equal to 103% of the LC Exposure with respect to such Letter of Credit at such time.
Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Revolving L/C Exposure with respect to such Letter of Credit at such time and
Examples of Minimum L/C Collateral Amount in a sentence
In addition, and without limiting the foregoing or clause (d) of this Section 2.05, if any Revolving L/C Exposure remains outstanding after the expiration date specified in said clause (d), the applicable Borrower shall immediately deposit into the Collateral Account an amount in cash equal to the Minimum L/C Collateral Amount plus any accrued and unpaid interest thereon.
More Definitions of Minimum L/C Collateral Amount
Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the
Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Revolving L/C Exposure with respect to such Letter of Credit at such time and (ii) otherwise, an amount sufficient to provide credit support with respect to such Revolving L/C Exposure as determined by the applicable Issuing Bank in its sole discretion. “▇▇▇▇▇’▇” shall mean ▇▇▇▇▇’▇ Investors Service, Inc. and its successors and assigns. “Mortgaged Properties” shall mean (i) the Material Real Properties that are identified on Schedule 1.01(E) and (ii) each additional Material Real Property required to be encumbered by a Mortgage pursuant to Section 5.10. “Mortgages” shall mean, collectively, the mortgages, trust deeds, deeds of trust, deeds to secure debt, assignments of leases and rents, and other security documents (including amendments to any of the foregoing) delivered with respect to Mortgaged Properties, each in such form as is reasonably satisfactory to the Collateral Agent and the Borrower, in each case, as amended, supplemented or otherwise modified from time to time. 48 Doc#: US1:15347125v11