Bond Letter of Credit means any standby or direct pay letter of credit issued by an LC Issuing Bank pursuant to Section 2.04 to support certain obligations to pay the principal of, interest on and/or purchase or redemption price of Bonds.
Bond Letter of Credit means any Letter of Credit that provides credit or liquidity support for Bonds, including each Existing Letter of Credit.
Bond Letter of Credit means irrevocable letter of credit No. S113181 issued by First Union National Bank (now Xxxxx Fargo) in the original face amount of $24,128,548 for the account of the OLP “B” and for the benefit of Trustee.
Examples of Bond Letter of Credit in a sentence
In the case of a failure of the Borrower to make timely reimbursement of a drawing under a Bond Letter of Credit to pay principal of or interest on Bonds, give notice to the trustee under the applicable Bond Documents of such failure and directing such trustee to effect a mandatory tender or the acceleration of such Bonds as may be permitted under such Bond Documents.
More Definitions of Bond Letter of Credit
Bond Letter of Credit each irrevocable direct pay letter of credit to be issued by the Issuing Bank in favor of the Bond Trustee on any Business Day during the Construction Period pursuant to Section 5.1(a) of the Project Loan Agreement, substantially in the form of Exhibit C-3 to the Project Loan Agreement (with such changes therein as shall be acceptable to the Issuing Bank and the Majority Banks), as amended, supplemented or otherwise modified from time to time in accordance with its terms, and any replacement therefor issued pursuant to Section 5.2(b) of the Project Loan Agreement.
Bond Letter of Credit means the letter of credit issued by the Bank in the face amount of $4,138,083.00 pursuant to the Reimbursement Agreement.
Bond Letter of Credit means the irrevocable transferable letter of credit in the initial stated amount of Eight Million Seventy-Six Thousand Seven Hundred Thirteen Dollars ($8,076,713) issued by Xxxxxx X.X. (as successor by merger to Xxxxxx Trust and Savings Bank) to secure the payment of the Bonds.
Bond Letter of Credit means an irrevocable, transferable letter of credit issued for the benefit of the Holders of any Bonds, pursuant to which the issuer of such letter of credit is obligated to pay when due the principal of and interest on such Bonds to the extent of any deficiency in the amounts in the funds and accounts held under the Trust Agreement, in the manner and in accordance with the terms provided in such letter of credit. The issuer of such letter of credit shall be a banking association, bank or trust company or branch thereof whose letter of credit results in the Bonds which are secured by such letter of credit being rated in one of the two highest rating categories by each Rating Agency which has a rating outstanding on such Bonds.
Bond Letter of Credit any letter of credit issued by the Issuing Lender under this Agreement to a Bond Trustee to support the payment of the principal of, premium, if any, and interest on any Bonds issued for the account or benefit of the Borrower or a Subsidiary of the Borrower, or to support the obligation of the Borrower or a Subsidiary of the Borrower, to purchase any such Bonds upon any tender for purchase pursuant to any of the Bond Documents relating thereto.
Bond Letter of Credit means the $7,470,934.90 Irrevocable Letter of Credit issued by Bank Austria AG backing payment of the $7,365,000 Forsyth County Development Authority Industrial Development Revenue Bonds (World Access, Inc. Project), Series 1998.
Bond Letter of Credit means Lender's irrevocable, transferable direct-pay letter of credit in substantially the form of Exhibit A to the Reimbursement Agreement in the original undrawn amount of $12,147,090.41.