Letter of Credit Proceeds. In the event Landlord draws upon any letter of credit posted hereunder, the proceeds of such letter of credit shall be applied by Landlord for any purpose described in Section 6b above (to the same extent that the Security Deposit may be used for such purposes), with any remaining proceeds being held by Landlord as a Security Deposit under Section 6a above.
Letter of Credit Proceeds. Upon a draw on a Qualified Letter of Credit by the Beneficiary, the proceeds shall be deposited and handled as set forth in that certain Master Letter Agreement dated as of even date herewith (the “Master Letter Agreement”).
Letter of Credit Proceeds. This CONSENT TO ASSIGNMENT (as amended, modified or supplemented from time to time, this “Consent”) is dated as of _______ __, 20__ and is between [NAME OF LETTER OF CREDIT ISSUER] (the “Issuer”), and JPMORGAN CHASE BANK, N.A., as Collateral Agent (together with its successor or successors in such capacity, the “Collateral Agent”). The Issuer has issued a standby letter of credit, No. [NUMBER] dated as of [DATE OF ISSUE] in the stated face amount of $[AMOUNT] and having an initial schedule expiration date of [DATE OF EXPIRATION] (as the same may be amended, supplemented, extended or otherwise modified from time to time, the “Letter of Credit”) for the account of [ACCOUNT PARTY] in favor of [NAME OF APPLICABLE CREDIT PARTY] a [DESCRIPTION OF APPLICABLE CREDIT PARTY], (the “Beneficiary”). Under the terms of the Security Agreement dated as of July __, 2008 (as the same may be amended, modified or supplemented from time to time, the “Security Agreement”) among the Beneficiary, the other Credit Parties from time to time party thereto and the Collateral Agent, and as collateral security for the Finance Obligations referred to therein, the Beneficiary has assigned to the Collateral Agent and granted to the Collateral Agent a security interest in all right, title and interest of the Beneficiary in, to and under (i) the Letter of Credit, (ii) all related “letter-of-credit rights” (as defined in the Uniform Commercial Code) and (ii) all rights of the Beneficiary to payment or performance under the Letter of Credit, whether or not the Beneficiary has demanded or is now or hereafter becomes entitled to demand payment or performance, and all rights of the Beneficiary to demand payment or performance under the Letter of Credit (all of the foregoing being referred to herein as the “LC Collateral”). Terms used herein without definition which are defined in the Security Agreement have the respective meanings set forth therein. By executing this Consent to Assignment in the space indicated below, you hereby:
Letter of Credit Proceeds. Any and all right, title and interest of Xxxxxx, whether now of hereafter existing, in and to the proceeds of any and all written letters of credit under which Xxxxxx is a beneficiary;
Letter of Credit Proceeds. Following receipt of the funds (approximately £850,000) held by JPMorgan Chase in connection with that certain letter of credit f/b/x Xxxxxxx’x PLC listed on Schedule 4.8(c) , Purchaser and/or Misco UK shall or shall cause to be delivered such funds to Seller or its designee within two (2) Business Days following such receipt thereof, and Purchaser shall not agree or permit any Acquired Company to agree to any amendment or modification of such letter of credit, or agree to or instruct delivery of such funds to any person other than Seller or its designee, without Seller's prior written consent.
Letter of Credit Proceeds. Notwithstanding the foregoing provisions of this Section 2(a), such grant of security interest shall not extend to, and the term "Collateral" shall not include, (1) any Specified Assets, and (2) any Chattel Paper, contracts and other General Intangibles which are now or hereafter held by any Grantor as licensee, lessee or otherwise, to the extent that (i) such Chattel Paper, contracts and other General Intangibles are not assignable or capable of being encumbered as a matter of law or under the terms of the license, lease or other agreement applicable thereto (but solely to the extent that any such restriction shall be enforceable under applicable law), without the consent of the licensor or lessor thereof or other applicable party thereto and (ii) such consent has not been obtained; provided, however, that the foregoing grant of -------- ------- security interest shall extend to, and the term "Collateral" shall include (A) any General Intangible which is an Account or a proceed of, or otherwise related to the enforcement and collection of, any Account, or goods which are the subject of any Account, (B) any and all proceeds of such Chattel Paper, contracts and other General Intangibles to the extent that the assignment or encumbering of such proceeds is not so restricted and (C) upon any such licensor's, lessor's or other applicable party's consent with respect to any such otherwise excluded Chattel Paper, contracts or other General Intangibles being obtained, thereafter such Chattel Paper, contracts or other General Intangibles as well as any and all proceeds thereof that might have theretofore have been excluded from such grant of a security interest and the term "Collateral."
Letter of Credit Proceeds. Proceeds upon the drawdown of any letter of credit exchanged for any retainage withheld, if under the Rova I Turnkey Contract to be deposited into the Roanoke Account (for the sole account of the Rova I Contingency Ledger) and if under the Rova II Turnkey Contract to be deposited into the Roanoke Account (for the sole account of the Rova II Contingency Ledger), and to be applied as follows, if the proceeds are drawn in respect of:
Letter of Credit Proceeds. Proceeds upon the drawdown of any letter of credit exchanged for any retainage withheld, if under the Rova I Turnkey Contract to be deposited into the Rova I Contingency Account and if under the Rova II Turnkey Contract to be deposited into the Rova II Contingency Account, and to be applied as follows if the proceeds are drawn in respect of:
