Issuing Lender: (a) Ares Capital, acting through any of its Affiliates or branches, or one or more other Lenders reasonably satisfactory to Borrower, each in its capacity as issuer of the Letters of Credit and (b) after the appointment of an Additional Issuing Lender pursuant to subsection 3.14, unless the context otherwise requires, such Additional Issuing Lender.
Junior Indebtedness: collectively, (a) Subordinated Indebtedness, (b) any Indebtedness that is secured by a Lien junior to the Liens securing the Obligations and (c) any unsecured Indebtedness.
L/C Application: as defined in subsection 3.4(a).
L/C Fees: the Letter of Credit fees contemplated by subsection 3.8(a)(i).
L/C Obligations: the obligations of Borrower to reimburse the Issuing Lender for any payments made by the Issuing Lender under any Letter of Credit that have not been reimbursed by Borrower pursuant to subsection 3.7(a).
L/C Participating Interest: an undivided participating interest in the face amount of each issued and outstanding Letter of Credit and the L/C Application relating thereto.
Law: any statute, law, regulation, ordinance, rule, treaty, judgment, order, decree, pennit, concession, franchise, license, agreement or other governmental restriction of the United States or Canada or any state, province or political subdivision thereof or of any foreign country or any department, province or other political subdivision thereof.
Leased Property: as defined in subsection 5.13.
Lenders: as defined in the preamble hereto.
Letter of Credit: an irrevocable standby letter of credit or documentary letter of credit issued hereunder under which the Issuing Lender agrees to make payments in Dollars for the account of Borrower, on behalf of Borrower or any Guarantor in respect of obligations of Borrower or any Subsidiary.
Liabilities: all claims, actions, suits, judgments, damages, losses, liability, obligations, responsibilities, fines, penalties, sanctions, costs, fees, taxes, commissions, charges, disbursements and expenses, in each case of any kind or nature (including interest accrued thereon or as a result thereto and fees, charges and disbursements of financial, legal and other advisors and consultants), whether joint or several, whether or not indirect, contingent, consequential, actual, punitive, treble or otherwise.
LIBOR Lending Office: as to any Lender, the office of such Lender which shall be making or maintaining the LIBOR Loans.
LIBOR Loans: Loans bearing interest based upon LIBOR.
LIBOR Period: with respect to any LIBOR Loan, initially, the period commencing on, as the case may be, the Borrowing Date or conversion date with respect to such LIBOR Loan and in each case ending one, two, three or six months (or, to the extent available to all Lenders of such LIBOR Loan, twelve months) thereafter as selected by Borrower in its notice of borrowing as provided in subsection 4.1 or its notice of conversion as provided in subsection 4.2; provided that the foregoing provisions relating to LIBOR Periods are subject to the following:
(a) if any LIBOR Period would otherwise end on a day which is not a Business Day, that LIBOR Period shall be extended to the next succeeding Business Day, unless the result of such extension would be to carry such LIBOR Period into another calendar month, in which event such LIBOR Period shall end on the immediately preceding Business Day;