Insurance Letters of Credit definition

Insurance Letters of Credit means letters of credit issued for the account of the Company or any Wholly Owned Subsidiary of the Company for purposes of (i) securing certain deductible amounts payable by the Company or a Wholly Owned Subsidiary of the Company under cargo, automobile or general liability insurance policies or (ii) complying with workers' compensation requirements under applicable law.
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Insurance Letters of Credit. Intercreditor Agreement"; "Investment"; "Liquidated Damages"; "Mortgages"; "Mortgaged Property"; "Net Award"; "Net Proceeds"; "Net Casualty Proceeds"; "Non-Collateral Proceeds"; "Obligations"; "Offer Amount"; "Permitted Holders"; "Permitted Indebtedness"; "Permitted Investments"; "Permitted Liens"; "Permitted Refinancing Debt"; "Permitted Secured Debt"; "Prior Liens"; "Purchase Date"; "Purchase Money Obligations"; "Purchase Price"; "Real Property"; "Related Business Investment"; "Released Interests"; "Registration Rights Agreement"; "Released Trust Moneys"; "Restricted Investment"; "Restricted Payments"; "Sale/leaseback"; "Security Agreements"; "Security Documents"; "Senior Secured Notes; "Survey"; "Taking"; "Trust Moneys"; "Valuation Date"; "Voting Stock"; and "Weighted Average Life to Maturity".
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Insurance Letters of Credit means, collectively, the Existing Insurance Letters of Credit and the New Argonaut SLC, as may be amended from time to time, all of which, as amended, shall remain subject to the terms and conditions of this Agreement.”
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Examples of Insurance Letters of Credit in a sentence

  • YES NO FHA Insurance Private Mortgage Insurance Letter(s) of Credit Other (specify) USDA Rural Dev.

  • In the case of the Insurance Letters of Credit business (“ILOCS”) where daily margining exists, the pricing for securities is generated on an automated daily basis based upon publically available sources.

  • II.L.11 Bonds, Insurance, Letters of Credit and Execution of ContractWithin 20 calendar days following the receipt of a Notice of Award, the Proposer to whom the contract has been awarded shall deliver the required insurance certificates, and the specified letter(s) of credit and/or performance and labor and materials bonds, to the City, in accordance with Section 15 of the Sample Agreement.

  • Insurance Letters of Credit – Master Agreement, dated August 2, 2005, by and between Citibank Ireland Financial Services plc and PXRE Reinsurance Ltd.

  • Effective as ofNovember 24, 2015, the Facility and the letters of credit issued thereunder replace the existing letter of credit facility established to support Syndicate 1458 by RRL with CEP on April 29, 2009, pursuant to an Insurance Letters of Credit Master Agreement and related agreements, and the two letters of credit previously issued thereunder.

  • The Company may by special resolution reduce its share capital or any capital redemption reserve in any manner authorised and subject to any conditions prescribed by the ActLaw.

  • It is recommended that, where possible, the instruments of Third-Party Insurance, Letters of Credit, Corporate Guarantee, Surety Bonds, Cash Deposits and to a lesser extent Trust Funds be used as financial-assurance instruments underlying reclamation bonds.

  • They proposed that the TFA should be subjected to the single undertaking, in other words, that the TFA should enter into force upon conclusion of the single undertaking.

  • For high level of security, Payment Conditions may require Cash Collateral, Bank Guarantees, Credit Insurance, Letters of Credit, or other trade finance instruments.

  • NO FHA Insurance Private Mortgage Insurance Letter(s) of Credit Other (specify) USDA Rural Dev.


More Definitions of Insurance Letters of Credit

Insurance Letters of Credit means, collectively, the Existing Insurance Letters of Credit, as may be amended from time to time, all of which such Existing Letters of Credit, as amended, shall remain subject to the terms and conditions of this Agreement.
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Insurance Letters of Credit means, collectively, the Existing Insurance Letters of Credit, amended as contemplated in this Section 1.4(a)(ii).
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Related to Insurance Letters of Credit

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Existing Letters of Credit means each of the letters of credit issued under the Existing Credit Agreement outstanding on the Closing Date that are described on Schedule 1.01(b).

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(a).

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Letters of Credit as defined in Section 3.1(a).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.