Alternate Letter of Credit definition

Alternate Letter of Credit means an irrevocable letter of credit authorizing drawings thereunder by the Trustee issued by a bank, a trust company or other financial institution and meeting the requirements of Section 5.09 hereof, which Alternate Letter of Credit shall be the same in all material respects (except as to expiration date) as the Letter of Credit.

Alternate Letter of Credit means an alternate irrevocable letter of credit, including, if applicable, a confirming letter of credit, or similar credit facility issued by a commercial bank, savings institution or other financial institution, the terms of which shall in all material respects be the same as those of the Letter of Credit then in effect, delivered to the Trustee pursuant to Section 2.12 of the Loan Agreement, and any extensions, amendments or supplements thereto.

Alternate Letter of Credit means a Letter of Credit delivered to the Trustee pursuant to Section 2.12 of this Agreement to replace the Letter of Credit then in effect.

Examples of Alternate Letter of Credit in a sentence

• Such notice shall be given at least thirty (30) Business Days prior to the delivery of the Alternate Letter of Credit or Alternate Credit Facility to the Trustee.

• The payment of all drawings honored under the Scottsburg Alternate Letter of Credit will be made with the Agent's own funds.

• The Interest Portion of the Scottsburg Alternate Letter of Credit Amount has been established on the basis of two hundred ten (210) days' interest on the Scottsburg Bonds, at an assumed maximum interest rate of 15% per annum.

• The Scottsburg Alternate Letter of Credit is subject to prior automatic termination as provided therein.

• The Company has requested the Agent, as agent and for the account of the Lenders, to issue the Scottsburg Alternate Letter of Credit to the Trustee.

More Definitions of Alternate Letter of Credit

Alternate Letter of Credit means any letter of credit substituted for the Initial Letter of Credit, including any renewals or extensions of the Initial Letter of Credit by the Letter of Credit Issuer, pursuant to and meeting the requirements of Section 404 of the Indenture;

Alternate Letter of Credit will mean the Boonx Xxxernate Letter of Credit, the Port Authority Alternate Letter of Credit and the Scottsburg Alternate Letter of Credit collectively and individually as the context requires.

Alternate Letter of Credit means, with respect to the Bonds, a letter of credit or other security or liquidity device issued in accordance with the requirements of the Indenture which will have a term of not less than one year and will have substantially the same material terms as the Letter of Credit; provided that such letter of credit or other security or liquidity device may (and shall if the Bonds shall provide for redemption premium while it is in effect) provide for coverage of premium payable upon redemption of the Bonds.

Alternate Letter of Credit has the meaning set forth in the Indenture.

Alternate Letter of Credit means an Alternate Letter of Credit as -------------------------- defined in the Indenture.

Alternate Letter of Credit means an alternate irrevocable letter of credit or similar credit facility issued by a commercial bank or savings institution, the terms of which, other than the expiration date, shall in all material respects be the same as those of the initial Letter of Credit, delivered to the Trustee pursuant to Section 5.08 of the Agreement.

Alternate Letter of Credit means an irrevocable letter of credit authorizing drawings thereunder by the Trustee, issued by a national banking association, a bank, a trust company or other financial institution as the Bank, and satisfying the requirements of Article VII.