Import Letters of Credit Sample Clauses

Import Letters of Credit. Bank’s import letters of credit service shall allow Customer to request us, by electronic transmission or email, to issue an import letter of credit or a guarantee. Each letter of credit or guarantee which we agree to issue will be for your Account or the account of another entity you designate. As a condition to our agreement to issue a letter of credit, we may require you at any time to (i) make with us a cash deposit, which may not accrue interest or earnings credit, and (ii) grant us a security interest in the underlying goods and documents of title and/or any other property or accounts as we reasonably determine as security for your obligations to us. Customer may, from time to time, request Bank to open and amend a letter of credit in accordance with the import letters of credit service by sending a request to do so to the Bank. Each such request (“Request”) shall be completed on the applicable application and/or agreement, in form satisfactory to the Bank’s policy, executed by the Customer together with any other third party identified in such Request as being the person or entity to appear as applicant on such letter of credit if different from the Customer. As soon as reasonably practicable, Bank will confirm the issuance or non-issuance of any letter of credit (or amendment thereto) to the Customer. In submitting any Request to the Bank and otherwise performing any obligations under this Agreement and the applicable letter of credit, the Customer shall act as the sole actual applicant and responsible party in all respects for such letter of credit under the Request, as principal and direct and sole obligor as to the Bank, and not as agent or guarantor for any third party. Under a Request, a third party may appear to have rights and obligations as to either or both the Customer and the Bank, but the Customer and the Bank hereby agree that as to themselves, irrespective of the wording of any Request, all such rights and obligations of a third party shall be exclusively between such third party and the Customer.
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Import Letters of Credit. (a) On the terms and conditions set forth herein, the Bank agrees, from time to time on any Business Day during the period from the date of this Agreement to the day which is five (5) days prior to the Maturity Date to issue Import Letters of Credit for the account of the Borrower and the Guarantors. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower's and Guarantors' ability to obtain Import Letters of Credit shall be fully revolving, and, accordingly, the Borrower and the Guarantors may, during the foregoing period, obtain Import Letters of Credit to replace Import Letters of Credit which have expired or which have been drawn upon and reimbursed.
Import Letters of Credit. 2.1. The procedure of opening an Import Letter of Credit is subject to this Agreement and these Terms and Conditions.
Import Letters of Credit. Liens securing obligations in respect of import letters of credit incurred by Genlyte Xxxxxx or Genlyte Group in the ordinary course of its business;

Related to Import Letters of Credit

  • New Letters of Credit So long as any Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Existing Letters of Credit The parties hereto agree that the Existing Letters of Credit shall be deemed Letters of Credit for all purposes under this Agreement, without any further action by the Borrower.

  • Loans and Letters of Credit On the Closing Date:

  • Extended Letters of Credit Each Revolving Lender confirms that its obligations under the immediately preceding subsections (i) and (j) shall be reinstated in full and apply if the delivery of any Cash Collateral in respect of an Extended Letter of Credit is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise.

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