Application and Agreement for Letter of Credit definition

Application and Agreement for Letter of Credit means the document substantially in the form of Exhibit C annexed hereto, with appropriate insertions and deletions, with respect to the proposed issuance or amendment of a Letter of Credit.
Application and Agreement for Letter of Credit means an application and agreement for standby letter of credit by, between and among Borrower and a Qualified Borrower, on the one hand, and the Letter of Credit Issuer, on the other hand, in a form acceptable to the Letter of Credit Issuer (and customarily used by it in similar circumstances) and conformed to the terms of this Credit Agreement, either as originally executed or as it may from time to time be supplemented, modified, amended, renewed, or extended, provided, however, to the extent that the terms of such Application and Agreement are inconsistent with the terms of this Credit Agreement, the terms of this Credit Agreement shall control.
Application and Agreement for Letter of Credit means an application and agreement for standby letter of credit by, between, and among any Borrower, on the one hand, and Huntington, on the other hand, in a form provided by Huntington, either as originally executed or as it may from time to time be supplemented, modified, amended, renewed, or extended.

Examples of Application and Agreement for Letter of Credit in a sentence

  • Each request by the Borrower for the issuance or renewal of a Letter of Credit, whether pursuant to an Application and Agreement for Letter of Credit or otherwise, shall constitute its certification that the conditions specified in Section 5.2 with respect to such issuance or renewal have been satisfied.

  • The Application and Agreement for Letter of Credit shall specify (i) the proposed date of issuance (which shall be a Business Day under the laws of the Commonwealth of Kentucky), (ii) the face amount of the Letter of Credit, (iii) the expiration date of the Letter of Credit, (iv) the name and address of the beneficiary of the Letter of Credit, and (v) a summary of the purpose and contemplated terms of the Letter of Credit.

  • Section 13.1 Right of Assignee to Become a Preferred Securityholder.

  • Each request for the issuance of a Letter of Credit shall be made, together with the fully completed accompanying Application and Agreement for Letter of Credit, five (5) Business Days prior to the date of the requested issuance of the Letter of Credit.

  • Administrative Agent and Lenders may conclusively rely on the Letter of Credit Issuer as to the amount due the Letter of Credit Issuer by reason of any draft of a Letter of Credit or due the Letter of Credit Issuer under any Application and Agreement for Letter of Credit.

  • Each of the letters of credit shall be evidenced by an Application and Agreement for Letter of Credit (the "Application") in a form satisfactory to Lender.

  • The Borrower(s) have attached hereto an Application and Agreement for Letter of Credit in the form of Schedule 1 dated as of [DATE].

  • Issuing Bank agrees, subject to the terms and conditions of this Agreement, upon request and for the account of Borrower, to issue from time to time Letters of Credit upon delivery to Issuing Bank of an Application and Agreement for Letter of Credit in form and content reasonably acceptable to Issuing Bank; provided, that the Letter of Credit Outstandings shall not exceed the Total Letter of Credit Commitment.

  • The Application and Agreement for Letter of Credit shall specify (i) the proposed date of issuance (which shall be a Business Day under the laws of the Commonwealth of Kentucky), (ii) the face amount of the Letter of Credit, (iii) the expiration date of the Letter of Credit, (iv) the name and address of the beneficiary, and (v) a summary of the purpose and contemplated terms of such Letter of Credit.

  • The Borrower, Holdco and each Subsidiary hereby reaffirms and ratifies all of its respective obligations under the Loan Agreement, as amended and modified hereby, the Revolving Credit Notes, each Application and Agreement for Letter of Credit, the Pledge Agreement, the Security Agreement, the Mortgage, the Trademark Assignments and the other Loan Documents.


More Definitions of Application and Agreement for Letter of Credit

Application and Agreement for Letter of Credit means and includes, collectively, the applications and agreements for Letters of Credit, or similar documentation, if any, executed by various Borrowers from time to time and delivered to the Administrative Agent to support the issuance of Letters of Credit, in form and substance acceptable to the Administrative Agent, in its sole discretion.
Application and Agreement for Letter of Credit means an application and agreement for either a standby letter of credit or for an amendment thereto substantially in the form of Exhibit "D" hereto.
Application and Agreement for Letter of Credit means the document substantially in the form o f Exhibit C annexed hereto, with appropriate insertions and deletions, with respect to the proposed issuance or amendment of a Letter of Credit.
Application and Agreement for Letter of Credit means the document substantially in the form of Exhibit C annexed hereto, with appropriate
Application and Agreement for Letter of Credit means a Bank standard form Application for Commercial Letters of Credit and Agreement (Commercial Letter of Credit), or Electronic Services Agreement, or Application and Agreement for Standby Letter of Credit.
Application and Agreement for Letter of Credit means an application and agreement for either a standby letter of credit or for an amendment thereto substantially in the form of Exhibit “A” hereto, or in form as otherwise requested by an L/C Issuer from time to time. Assignment and Assumption Agreement shall mean (i) the Master Assignment and Assumption Agreement or (ii) an Assignment and Assumption Agreement by and among a Purchasing Lender, a Transferor Lender and the Agent, as the Agent and on behalf of the remaining Lenders, substantially in the form of Exhibit “B” hereto. Base Rate shall mean a fluctuating rate of interest per annum equal to the greater of (i) the interest rate per annum announced from time to time by the Agent at its Principal Office as its then prime rate, which rate may not be the lowest rate then being charged commercial borrowers by the Agent, or (ii) the Federal Funds Open Rate plus 1/2 of one percent per annum. Documentation Agent shall mean (i) prior to the First Amendment Closing Date, each of U.S. Bank, National City Bank of Pennsylvania and LaSalle Bank National Association in its capacity as documentation agent hereunder, and (ii) on and after First Amendment Closing Date, National City Bank of Pennsylvania and Comerica Bank. Euro-Rate shall mean for any day, as used herein, for each segment of the Euro-Rate Portion corresponding to a proposed or existing Euro Rate Interest Period, the interest rate per annum determined by the Agent by dividing (the resulting quotient rounded upward to the nearest 1/100th of 1% per annum) (i) the rate of interest determined by the Agent in accordance with its usual procedures (which determination shall be conclusive, absent manifest error) to be equal to the average of the London interbank offered rates of interest per annum for U.S. Dollars quoted by the British Bankers’ Association as set forth on Money Telerate Service (formerly Telerate) (or appropriate successor, or, if the British Bankers’ Association or its successor ceases to provide such quotes, a comparable replacement determined by the Agent) display page 3750 (or such other display page on the Money Telerate Service System as may replace display page 3750), two (2) Business Days prior to the first day of such Euro-Rate Interest Period for an amount comparable to such Euro Rate Portion and having a borrowing date and a maturity comparable to such Euro-Rate Interest Period by (ii) a number equal to 1.00 minus the Euro-Rate Reserve Percentage. The Euro-Rate may also be expresse...

Related to Application and Agreement for Letter of Credit

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • 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.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit SUBI Collections into the 20[●]-[●] SUBI Collection Account by the related Deposit Date.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Disbursement Agreement means the Master Disbursement Agreement, dated as of the Closing Date, by and among the Administrative Agent, the Bank Facilities Administrative Agent, the Disbursement Agent, the Borrowers and LCR, in substantially the form of Exhibit D-3 hereto, as the same may be amended, supplemented, amended and restated, or otherwise modified in accordance with the terms hereof and thereof.

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

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

  • 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.

  • Amendment No. 5 means Amendment No. 5 to this Agreement dated as of August 7, 2020, by and among the Borrower, Holdings, the other Loan Parties party thereto, the Extending Revolving Credit Lenders party thereto, and the Administrative Agent.

  • Irrevocable letter of credit means an irrevocable letter on the financial institution’s standard form containing a request that the party to whom it is addressed pay the bearer or a person named therein money as a result of failure to perform or fulfill all the covenants, undertakings, terms, conditions and agreements contained in a contract.

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

  • Amendment No. 8 means Amendment No. 8, dated as of March 31, 2017, to this Agreement.

  • Amendment No. 7 means the Seventh Amendment to Amended and Restated Credit Agreement, dated as of March 28, 2019, among Borrower, each of the Lenders party thereto and the Administrative Agent.

  • Reimbursement Agreement as defined in Section 2.8(b).

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

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with any Issuing Bank relating to any Letter of Credit issued by such Issuing Bank.

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • 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.

  • Authorized agent agreement means the written agreement executed between an authorized agent

  • Amendment No. 6 means Amendment No. 6 to this Agreement dated as of August 24, 2021, by and among the Borrower, Holdings, the other Loan Parties party thereto, the Extending Revolving Credit Lenders party thereto, the Third Incremental Term Lenders and the Administrative Agent.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Commercial Letter of Credit which supports the purchase of Inventory, (a) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued; (b) which Inventory otherwise would constitute Eligible Inventory when purchased, (c) which Commercial Letter of Credit has an expiry within sixty (60) days of the date of initial issuance of such Commercial Letter of Credit, (d) which Commercial Letter of Credit provides that it may be drawn only after the Inventory is completed and after a document of title reasonably acceptable to the Agent has been issued for such Inventory reflecting a Borrower or the Agent as consignee of such Inventory, and (e) which will constitute Eligible In-Transit Inventory upon satisfaction of the requirements of clause (d) hereof.

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

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

  • Amendment No. 1 means that certain Amendment No. 1 to Credit Agreement, dated as of the Amendment No. 1 Effective Date, among the Administrative Agent, the Borrower, the other Credit Parties party thereto and the Amendment No. 1 New Term Loan Lenders party thereto.

  • Amendment No. 2 means Amendment No. 2 to this Agreement, dated as of the Amendment No. 2 Effective Date, among the Borrower, the Administrative Agent and the other parties party thereto.

  • 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.