LC Bank definition

LC Bank has the meaning set forth in the preamble to this Agreement.

LC Bank means the Initial XX Xxxxx or any other Lender approved by the Borrower and the Administrative Agent that may agree to issue Letters of Credit pursuant to an agreement in form satisfactory to the Borrower and the Administrative Agent, so long as such Lender expressly agrees to perform in accordance with their terms all of the obligations that by the terms of this Agreement are required to be performed by it as an LC Bank and notifies the Administrative Agent of its applicable lending office (which information shall be recorded by the Administrative Agent in the Register), for so long as such Initial LC Bank or Lender, as the case may be, shall have a Letter of Credit Commitment.

LC Bank shall have the meaning set forth in Section 3.1(c).

Examples of LC Bank in a sentence

• The Borrower has requested (a) that the Lenders make Loans from time to time to the Borrower and (b) that the LC Bank issue or cause the issuance of one or more Letters of Credit from time to time, in each case, on the terms and subject to the conditions set forth herein.

• In addition to any other fees or expenses owing under the Fee Letter or any other Transaction Document or otherwise pursuant to any Letter of Credit Application, the Borrower shall pay to the LC Bank for its own account any customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the LC Bank relating to letters of credit as from time to time in effect.

• It is understood and agreed that, except in the case of gross negligence or willful misconduct by the LC Bank, the LC Bank shall not be liable for any error, negligence and/or mistake, whether of omission or commission, in following the Borrower’s instructions or those contained in the Letters of Credit or any modifications, amendments or supplements thereto.

• The Borrower shall authorize and direct the LC Bank to name the Borrower, the Servicer or any other Affiliate of the Borrower and the Servicer as the “Applicant” or “Account Party” of each Letter of Credit.

• In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the LC Bank shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth.

More Definitions of LC Bank

LC Bank means PNC.

LC Bank has the meaning set forth in the preamble in this Agreement. If the context so requires, the LC Bank with respect to any Letter of Credit shall be deemed to mean the LC Bank that issued such Letter of Credit.

LC Bank means any Person from time to time party hereto as an LC Bank. For the avoidance of doubt, the “applicable LC Bank” means the LC Bank that issued the relevant Letter of Credit hereunder.

LC Bank shall have the meaning provided in the recitals.

LC Bank has the meaning set forth in the preamble.

LC Bank shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

LC Bank means PNC and each other Person that is or becomes a party to this Agreement in the capacity of an “LC Bank”.