Letter of Credit definition

Letter of Credit means any letter of credit issued pursuant to this Agreement.

Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

Letter of Credit means any standby letter of credit issued hereunder.

Examples of Letter of Credit in a sentence

• For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06.

• If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

• The applicable Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit.

• Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

• The Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.

More Definitions of Letter of Credit

Letter of Credit means any standby or commercial letter of credit issued (or, in the case of an Existing Letter of Credit, deemed to be issued) pursuant to this Agreement.

Letter of Credit means any standby letter of credit issued hereunder and shall include the Existing Letters of Credit.

Letter of Credit is a standby or commercial letter of credit issued by Bank upon request of Borrower based upon an application, guarantee, indemnity, or similar agreement.

Letter of Credit of a Person means a letter of credit or similar instrument which is issued upon the application of such Person or upon which such Person is an account party or for which such Person is in any way liable.

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

Letter of Credit means any letter of credit issued or deemed to be issued pursuant to this Agreement and shall include the Existing Letters of Credit issued by the Lenders.

Letter of Credit means any letter of credit issued by the Issuing Lender for the account of the Borrower in accordance with the terms of Section 2.2.