Replacement Letter of Credit definition

Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

Replacement Letter of Credit shall have the meaning assigned thereto in Section 2.3.

Replacement Letter of Credit means any letter of credit issued in accordance with the provisions of Section 2.07(e) or 10.06(b)(v), in replacement of and in the same form as the relevant replaced Letter of Credit.

Examples of Replacement Letter of Credit in a sentence

• Upon the failure of an assignee to deliver a compliant Replacement Letter of Credit to NYSERDA simultaneously with its receipt of the assignment, NYSERDA shall be thereupon entitled to draw on the Letter of Credit for the full amount then outstanding and the funds received shall be held by NYSERDA for application against subsequent obligations of Seller and/or the assignee under this Agreement.

• Any assignee within Article VIII of this Agreement shall, simultaneously with its receipt of the assignment, deliver to NYSERDA a Replacement Letter of Credit meeting the requirements of this Article, and NYSERDA shall, within twenty (20) Business Days after receipt of a compliant Replacement Letter of Credit, return the original Letter of Credit to Seller.

• Any assignee of this Agreement pursuant to Article VIII of this Agreement shall, simultaneously with its consummation of such assignment, deliver to NYSERDA a Replacement Letter of Credit meeting the requirements of this Article, and NYSERDA shall, within twenty (20) Business Days after receipt of a compliant Replacement Letter of Credit, return the original Letter of Credit to Seller.

• Contributor shall, and shall cause the Companies to, provide reasonable cooperation to SEP in connection with SEP’s efforts to obtain each Replacement Letter of Credit pursuant to this Section 7.7.

• Failure of Tenant to cause the Replacement Letter of Credit Security to be issued forty-five (45) days prior to the then pending expiration or cancellation shall entitle Landlord to fully draw down on the existing Letter of Credit Security and, at Landlord’s election, shall be an event of default under this Lese without any relevant notice and cure period.

More Definitions of Replacement Letter of Credit

Replacement Letter of Credit has the meaning given in Section 6(a) hereof.

Replacement Letter of Credit has the meaning ascribed thereto in Section 16.3(c).

Replacement Letter of Credit is defined in Section 4.2.

Replacement Letter of Credit has the meaning ascribed thereto in Section 16.3(c). “Reporting Year” means each calendar year during the Term, except that unless the Closing Date is the first day of January, the first Reporting Year shall be a partial year commencing on the Closing Date and ending on December 31st of such calendar year and the last Reporting Year shall be a partial Reporting Year commencing January 1st of such Reporting Year and ending on the End Date.

Replacement Letter of Credit means a letter of credit issued by a bank with a rating of at least A by both Moody's and S&P, for the benefit of the Administrative Agent to secure the repayment of any future drawings under any outstanding Letters of Credit issued hereunder.

Replacement Letter of Credit shall have the meaning set forth in Section 10.8(b).

Replacement Letter of Credit means a Letter of Credit issued on the SRC Merger Closing Date by the Replacement LC Issuing Bank in replacement of an Existing SRC Letter of Credit; provided that the amount of such Letter of Credit does not exceed the amount of the Existing SRC Letter of Credit replaced by such Letter of Credit.