Stand-by Letter of Credit Sample Clauses
Stand-by Letter of Credit an obligation of the Bank defined in accordance with the rule and conditions established by the Agreement to secure fulfillment by the Customer of obligation assumed towards the Beneficiary, in exchange for which the Customer undertakes to: a) pay the Bank the cost and other payables stipulated by the Agreement; b) reimburse the Bank in a recourse mode an amount disbursed to the Beneficiary under the Stand-by Letter of Credit, including an amount disbursed to the Beneficiary against the conditions of the Stand-by Letter of Credit or for violation of the Bank’s obligation towards the Beneficiary.
Stand-by Letter of Credit. 3.1.1. Rule of issuing the Stand-
Stand-by Letter of Credit. Kmart shall open, within ten (10) business days of the Execution Date, a transferable and assignable stand-by irrevocable letter of credit in the sum of $10,000,000 in favor of NewTech from a financial institution reasonably acceptable to NewTech ("Letter of Credit") which can only be drawn upon for Kmart's failure to pay for Direct NewTech Orders of conforming Products which are timely shipped f.o.
Stand-by Letter of Credit. Each Application for a stand-by letter of credit to be issued by the Bank and the stand-by letter of credit issued pursuant thereto shall, unless otherwise expressly stated therein, be governed by the then most current version, as in effect on the date of issuance of such stand-by letter of credit, of the International Chamber of Commerce Publication, “International Standby Practices” (“ISP”) and, to the extent not inconsistent with the ISP, the laws and regulations of the Republic of China.
(3) 信用狀： 信用狀讓購、開發、通知及確認之申請及 貴行依總約定書就信用狀所為之讓購、開發、通知及確認，均應依信用狀讓購、開發、通知及確認當時國際商會最新版本之「信用狀統一慣例」規定，並於不與「信用狀統一慣例」衝突之前提下，適用中華民國法律之規定。
Stand-by Letter of Credit. Trustor hereby agrees to provide and maintain a $1.0 million stand-by letter of credit in a form reasonably acceptable to the Bank, in its capacity as Trustee.
Stand-by Letter of Credit. 4.3.1. Issuance of the Stand-by Letter of Credit The Buyer shall issue the Stand-by Letter of Credit within 15 (fifteen) calendar days from the Signing Date in strict accordance with the terms and conditions set out in Article I of the Purchase Order. STRICTLY PRIVATE AND CONFIDENTIAL PTC_V_13.11
4.3.2. The validity period for the Stand-by Letter of Credit is 90 (ninety) calendar days.
Stand-by Letter of Credit. VOC Brazos hereby agrees to provide and maintain a $1.0 million stand-by letter of credit in a form reasonable acceptable to the Bank, in its capacity as Trustee.
Stand-by Letter of Credit. To support Aegis’s working capital, following the Effective Date and no later than October 5, 2005, Essar agrees to use its commercially reasonable best efforts to post a stand-by letter of credit in favor of Aegis in the amount of $10 million with an international bank reasonably acceptable to Client (the “Essar LC”). The Essar LC will have a term of 1 year (the “Term”), and will have terms of draw reasonably acceptable to Client, including that the Aegis Chief Executive Officer and an Essar-designated member of the Board of Directors of Aegis must jointly obtain Client’s prior written consent before Aegis may make any particular draw on the Essar LC. Unless the Term has already expired, Aegis and Essar will be permitted to terminate the Essar LC before the expiration of the Term upon the date that is 30 days after the completion of the project described on Statement of Work No.
1. Additionally, Essar agrees to provide the commitments set forth in documentation reasonably satisfactory to Client, copies of which will be attached to this Agreement as Attachment 2, regarding (i) Essar’s efforts to implement the Essar LC; and (ii) Essar’s commitment and capacity to fund the working capital requirements and ramp-up expenses incurred by Aegis in connection with providing the Services to Client under this Agreement.
Stand-by Letter of Credit. If, at any time during the Term of this Agreement, Boston is late in its payments five or more times in any period of twelve consecutive months, Boston will immediately obtain and have issued to Mxxxxx a stand-by letter of credit in an amount equal to the monthly average, calculated over the last twelve months prior to issuance of the letter of credit, of Mxxxxx’x production expense and inventory exposure. Such letter of credit shall remain in force until Boston has had no late payments for a period of twelve consecutive months.
Stand-by Letter of Credit. The Company shall have received the SBLC, which shall be in full force and effect as of the Onshore Payment Date.