Approved Letter of Credit definition

Approved Letter of Credit means an irrevocable, unconditional, transferable, clean sight draft letter of credit in favor of Lender and its successors and/or assigns, the obligation to reimburse draws made in connection with which are those of a Person other than Borrower, with a term of not less than one (1) year and which is drawable in whole or in part by sight draft in New York City, issued by a bank having a long-term unsecured debt rating of not less than “AA” (or its equivalent) and a short-term unsecured debt rating of not less than “A-1” (or its equivalent) by each Rating Agency and otherwise reasonably acceptable to Lender.

Approved Letter of Credit means a letter of credit (including any amendments), all in a form satisfactory to Transporter, issued to Transporter as beneficiary by a financial institution with a credit rating of “A” or better by Standard & Poor’s Financial Services LLC, “A2”or better by Moody’s Investors Service, Inc., or “A” or better by DBRS Limited for the unenhanced long term senior unsecured debt of the financial institution providing the letter of credit and otherwise subject to the Uniform Customs and Practice for Documentary Credits 2007 Revision ICC Publication No. 600 or International Standby Practices ISP98 International Chamber of Commerce; provided that if the issuing financial institution is not listed in Schedule 1 of the Bank Act (Canada), the applicable letter of credit will: (i) be advised by a financial institution listed in Schedule 1 of the Bank Act (Canada); and (ii) specify that payment under it shall be available at the advisory financial institution;

Approved Letter of Credit means each letter of credit to be issued by a bank chosen by Borrowers and approved by the Administrative Agent, the terms and conditions of which have been approved by the Administrative Agent in its sole discretion.

Examples of Approved Letter of Credit in a sentence

• On or prior to the thirtieth (30th) day prior to the expiration of any Delivered Letter of Credit, Borrower shall provide Lender with a replacement to such Delivered Letter of Credit which shall be an Approved Letter of Credit, and otherwise in the same form and amount as the Delivered Letter of Credit being replaced or such other form reasonably approved by Lender.

• Such credit requirements may include the requirement for an Approved Letter of Credit not to exceed Shipper’s pro rata share of the cost of the required additional facilities.

• The obligations of Tenant pursuant to this Lease shall be secured during the period ending sixty (60) days after the date three (3) years after the Commencement Date by a letter of credit which is an Approved Letter of Credit (as that term is hereinafter defined), in the amount hereinafter provided for.

• In accordance with Sections 202 and 402(d) of the Basic Resolution, at or prior to the Bond Closing for the Bonds, cash in the amount, or an Approved Letter of Credit drawable in the amount, of the Minimum Deposit shall be delivered to or by the Issuer as required for the Bonds and further, all other conditions required to be met under Section 202 of the Basic Resolution shall have been met as have the conditions specified herein.

• Xxxxxx, Xxficer LIST OF EXHIBITS Exhibit A -- List of Funds Exhibit B -- Loan Agreement Exhibit C -- List of Borrowers Exhibit D -- Types of Collateral Exhibit E -- Subscustodian's Fees Exhibit F -- Approved Letter of Credit Banks EXHIBIT A LIST OF FUNDS JUNE 15, 1998 Government Bond Fund Asset Allocation Fund Growth Opportunities Fund Large Company Growth Fund Equity Index Fund The One Group Investment Trust ("Lender") By: /s/ Jamex X.

More Definitions of Approved Letter of Credit

Approved Letter of Credit means (i) any Initial Letter of Credit or (ii) any Letter of Credit that (A) conforms to the requirements in Section 4(e)(i) hereof and (B) has been approved in writing by the Indemnitees' Agent (which approval shall not be unreasonably withheld).

Approved Letter of Credit means a freely assignable, unconditional and irrevocable letter of credit issued by an Approved Letter of Credit Bank, all in a form approved by Lender in Lender's reasonable discretion.

Approved Letter of Credit means an irrevocable letter of credit, in form satisfactory to the Trustee, issued by a commercial bank organized under the laws of the United States of America or any state thereof and acceptable to the Director, which letter of credit may be drawn upon by the Trustee to provide funds for the Primary Reserve Account pursuant to Section 4.5 of this Lease. An Approved Letter of Credit must permit drawings thereunder for a period of not less than one (1) year or until fifteen (15) days after the final maturity of the Bonds, whichever first occurs.

Approved Letter of Credit means an irrevocable standby letter of credit issued by an Approved Bank.

Approved Letter of Credit. A freely assignable, unconditional and irrevocable letter of credit issued by an Approved Letter of Credit Bank, all in a form approved by Administrative Agent in Administrative Agent’s sole and absolute discretion.

Approved Letter of Credit means, collectively, one or more irrevocable, unconditional standby letters of credit issued by a domestic commercial bank having capital and surplus in excess of $100,000,000. The letters of credit must be issued for the account of Parent to the Agent for the benefit of the Lenders, as additional security and as an additional source of repayment of the Obligations, in substantially the form of Exhibit F or such other form reasonably acceptable to Agent, and in an aggregate amount not less than the Total Commitments."

Approved Letter of Credit means any irrevocable letter of credit issued to the Lender, in form and substance reasonably acceptable to the Lender which (a) is issued by any Permitted Financial Institution other than the Lender or any Affiliate thereof, (b) has an expiration date that is not earlier than the date falling twelve (12) months after the date of issuance of such letter of credit, (c) is drawable by the Lender if not renewed or replaced on or before thirty (30) days prior to its effective expiry date (if such expiration date is not at least ten (10) Business Days after the Maturity Date), (d) does not require reimbursement by any Borrower of any draw thereunder or payment by any Borrower of any fee or expense related thereto or have any recourse to any Collateral and (e) is drawable by the Lender if the Permitted Financial Institution that has issued any such letter of credit ceases to be a Permitted Financial Institution as determined in accordance with this Agreement, and the Borrowers have not replaced such letter of credit by the date that is thirty (30) days after the date on which the issuing bank thereof ceased to be a Permitted Financial Institution.