Alternate Confirming Letter of Credit definition

Alternate Confirming Letter of Credit means a confirming letter of credit delivered to the Trustee pursuant to Section 2.12 of the Agreement to replace the Confirming Letter of Credit then in effect.
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Alternate Confirming Letter of Credit means a confirming letter of credit delivered to the Trustee pursuant to Article V of the Lease to replace the Confirming Letter of Credit then in effect.
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Examples of Alternate Confirming Letter of Credit in a sentence

  • The Borrower hereby agrees to provide written notice to the Trustee, the Remarketing Agent and the Bondholders not less than 30 days prior to the consummation of any transactions that would result in the Borrower controlling or being controlled by either the Bank or the Confirming Bank, or any provider of an Alternate Letter of Credit or Alternate Confirming Letter of Credit.

  • At any time prior to the Trustee’s giving of notice of mandatory redemption of Bonds pursuant to Section 3.07C of the Indenture, the Borrower may provide for the delivery of an Alternate Letter of Credit or Alternate Confirming Letter of Credit, provided that the Borrower must furnish to the Trustee the opinion of Bond Counsel required under Section 6.08B(ii) of the Indenture.

  • Notwithstanding anything to the contrary contained herein or in the Indenture, the Borrower shall have the right to secure an Alternate Letter of Credit or Alternate Confirming Letter of Credit at any time prior to the issuance of a notice of redemption of the Bonds due to a termination of the Letter of Credit or the Confirming Letter of Credit.

  • In addition to the foregoing, the Alternate Letter of Credit or Alternate Confirming Letter of Credit must be delivered to the Trustee and must be effective prior to the Date of Mandatory Tender.

Related to Alternate Confirming Letter of Credit

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

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Financial Letter of Credit means any Letter of Credit other than a Performance 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.

  • 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.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

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

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Auto-Reinstatement Letter of Credit has the meaning specified in Section 2.03(b)(iv).

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).