Alternate Letter of Credit definition

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.

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;

Examples of Alternate Letter of Credit in a sentence

• The Bonds will be subject to mandatory tender for purchase (i) on the date five Business Days prior to the date of the surrender of the Letter of Credit without the delivery of an Alternate Letter of Credit or (ii) on the date of the replacement of the Letter of Credit with an Alternate Letter of Credit.

• Replacement of Letter of Credit The Company may surrender the Letter of Credit or replace the Letter of Credit with an Alternate Letter of Credit or other facility meeting the requirements of the Indenture.

• Mandatory Tender Upon Substitution of Alternate Letter of Credit.

• The Bonds shall be subject to mandatory tender at the Purchase Price on the date on which an Alternate Letter of Credit is to be substituted for the Letter of Credit (the “Substitution Date”).

• In the event SMUD does not request an extension of the Stated Expiration Date or the Bank denies or fails to respond to a request to extend the Stated Expiration Date, SMUD shall use its best efforts to (i) secure an Alternate Letter of Credit in full and complete replacement for the Letter of Credit or (ii) otherwise refinance the Notes on or prior to the expiration of the Letter of Credit.

More Definitions of Alternate Letter of Credit

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 an alternate irrevocable letter of credit, including, if applicable, a confirming letter of credit, or similar credit facility issued by a commercial bank, savings association or other financial institution, the terms of which will in all material respects be the same as those of the Letter of Credit then in effect, delivered to the Trustee pursuant to the Agreement.

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

Alternate Letter of Credit means an irrevocable letter of credit issued in accordance with Section 4.6 of this Loan Agreement.

Alternate Letter of Credit means (i) any letter of credit or other credit facility securing the payment of principal of and interest on the Bonds and the Purchase Price of Bonds tendered for purchase under Sections 306 or 307 of the Indenture delivered in accordance with Section 502 of the Indenture in substitution and replacement for a Letter of Credit or (ii) any Liquidity Facility.