Define: L/C Obligations
What does "L/C Obligations" mean? The meaning differs based on the contract. We found 3 definitions across 2 companies in SEC filings.
Definition 1 (FEDEX CORP, seen in 1 filing)
L/C Obligations means at any time, an amount equal to the sum of (a) the aggregate then undrawn and unexpired amount of the then outstanding Letters of Credit and (b) the aggregate amount of drawings under Letters of Credit that have not then been reimbursed pursuant to Section 3.05.
Source: FEDEX CORP 10-K
Definition 2 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
L/C Obligations means the aggregate undrawn amount of all outstanding Letters of Credit plus the aggregate amount of all drawings under Letters of Credit that have not been reimbursed.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 3 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
L/C Obligations means as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Advances.
Source: AMERICAN TOWER CORP /MA/ 10-K
Data extracted from 3 SEC EDGAR filings across 2 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.