Letter of Credit Disbursements definition

Letter of Credit Disbursements has the meaning given to that term in Section 3.9(b).
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Letter of Credit Disbursements means a payment made by the Issuing Bank pursuant to a Letter of Credit.
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Letter of Credit Disbursements and "Obligations" in the Security Agreement (as amended by the foregoing clause (i)), shall have the meaning ascribed to such terms in the Amended Agreement. (b) The Borrower, the Agent and the Lenders agree to amend the Security Agreement as follows: (i) subsection (i) of Section 2.01 is hereby deleted in its entirety and the following is substituted therefor: "(i) all Receivables (other than rights to receive payments in connection with (A) Government Contracts existing as of the Closing Date to the extent that a grant of a security interest in such rights is prohibited by the terms of such Government Contract and any renewals, extensions or replacements thereof or additional contracts with the same customers as are parties to such existing Government Contract, provided that the applicable Grantor shall have used its reasonable, good faith efforts to cause any such renewal, extensions, replacements or additional contracts to be included in the Collateral), (B) Government Contracts entered into after the Closing Date that (I) collectively have an aggregate value of less than $100,000 to the extent that a grant of a security interest in such rights is prohibited by the terms of such Government Contract or (II) are entered into with foreign governmental entities, the right to receive payments under which are not governed by the UCC and whose terms prohibit assignment of rights under such Contract or requires 2 a consent the Borrower was unable to obtain, or (C) Government Contracts to the extent that a grant of a security interest in such rights is prohibited by applicable law);" (ii) Section 4.02(a)(x) is hereby amended by (A) inserting the phrase "with respect to any Government Contract with a value greater than $1,000,000," between the "(A)" and the word "notify" and (B) deleting the number "$500,000" from subsection (III) thereof and substituting the number "$2,000,000" therefor. SECTION 2.
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Examples of Letter of Credit Disbursements in a sentence

  • Any such mandatory prepayments shall be applied first to Swing Loan Advances, then to Letter of Credit Disbursements for which the Issuing Bank has not been reimbursed by the Borrower, then to Tranche A Advances, and then to the remaining Letter of Credit Liabilities.

  • The Borrowers shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of Letter of Credit Disbursements, or of amounts payable under Section 2.16, 2.17 or 2.18, or otherwise) prior to 1:00 p.m., Central time, on the date when due, in immediately available funds, without set off or counterclaim.

  • The Administrative Agent shall maintain an account on its books in the name of the Borrower (the “Loan Account”) which will reflect (i) all Loans and other advances made by the Lenders to the Borrower or for the Borrower’s account, (ii) all Letter of Credit Disbursements, fees and interest that have become payable as herein set forth, and (iii) any and all other monetary Obligations that have become payable.

  • The Borrower shall be irrevocably and unconditionally obligated to reimburse the Letter of Credit Issuer for any Letter of Credit Disbursements paid by the Letter of Credit Issuer in respect of such drawing, without presentment, demand or other formalities of any kind.

  • Ceppa E, Cattaruzza F, Lyo V, Amadesi S, Pelayo JC, Poole DP, et al.

  • The council was able to complete the 2004-05 Professional Development Plan which included the following activities:2-day Transitional Mathematics workshop1-day building level coaching and team building trainings with Randy De Pry Reimbursements for one-year SWIS license20-user licenses for Makes Sense StrategiesIn addition to following through on the current year's plan, the Northeast RPDC worked together to develop the 2005-06 Professional Development Plan.

  • The perjury allegation is based upon the fact that the recording of the transaction "conclusively demonstrates that at the car wash, Espana did not 'tell' Mr. Baldenegro-Valdez anything nor otherwise 'talk' to him." Appellant Baldenegro-Valdez's Opening Brief at 41.

  • In addition, on the date the Borrower or any Subsidiary makes any prepayments 21 pursuant to Section 4.3(g) which are applied to the Swing Loan Advances, the Tranche A Advances or the Letter of Credit Disbursements, the Tranche A Commitments shall automatically be reduced by the amount of such prepayments so applied.

  • The members of the committee are as follows: Mr. Lai Moo Chan (Chairman)En. Abdul Kadir Bin Md Kassim En. Faris Najhan Bin Hashim During the financial year and up to the date of this annual report, the Committee had four (4) meetings.

  • The making by the Administrative Agent of a Permitted Overadvance shall not modify or abrogate any of the provisions of Section 2.06(g) regarding the Lenders’ obligations to purchase participations with respect to Letter of Credit Disbursements.


More Definitions of Letter of Credit Disbursements

Letter of Credit Disbursements and "Obligations" in the Security Agreement (as amended by the foregoing clauses (i) and (ii)), shall have the meaning ascribed to such terms in the Amended Agreement and (iv) any reference to the terms "Loans" and "Notes" in the Guarantee Agreement, the Centre Guarantee Agreement and the Security Agreement shall have the collective meanings ascribed to such terms in the Amended Agreement and the Centre Loan Agreement.
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Related to Letter of Credit Disbursements

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • 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.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $60,000,000.

  • 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.

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

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Limit means $5,000,000.

  • 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.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Outstandings means, at any time, the sum of (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the amount of all Unpaid Drawings.

  • 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 Fees shall have the meaning set forth in Section 3.2.

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

  • 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 Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • 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.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

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

  • 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.

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

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.