Assumed Letters of Credit definition

Assumed Letters of Credit shall have the meaning specified in Section 2.1(a)(9).
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Assumed Letters of Credit means those certain letters of credit listed on Schedule 1.02(c).
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Assumed Letters of Credit shall have the meaning set forth in Section 2.3(a). “Assumed Liabilities” shall have the meaning set forth in Section 2.3(a).
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Examples of Assumed Letters of Credit in a sentence

  • In the event that any Assumed Letter of Credit cannot be assigned to Purchaser, on the applicable Closing Date, Purchaser and Seller shall enter into a participation agreement in customary form reasonably satisfactory to Purchaser and Seller pursuant to which Purchaser shall acquire and assume all of Seller’s rights and obligations under such Assumed Letters of Credit and become entitled to all reimbursements thereunder.

  • In the event that any Assumed Letter of Credit cannot be assigned to JPM, on the Closing Date, JPM and BNY shall enter into a participation agreement in customary form reasonably satisfactory to JPM and BNY pursuant to which JPM shall acquire and assume all of BNY's rights and obligations under such Assumed Letters of Credit.

  • As of the Effective Date, each of the Assumed Letters of Credit, descriptions of which are set forth on Schedule II hereto, shall be deemed to be a Letter of Credit issued hereunder by one or more of the Issuing Lenders for the account of LTV Steel or its Affiliate for whose account the Assumed Letter of Credit was originally issued and shall be subject to all of the terms and provisions of this Agreement.

  • In the event that any Assumed Letter of Credit cannot be assigned to JPM, on the Closing Date, JPM and BNY shall enter into a participation agreement in customary form reasonably satisfactory to JPM and BNY pursuant to which JPM shall acquire and assume all of BNY’s rights and obligations under such Assumed Letters of Credit.

  • Although, the Hicks model should have a lower level of explanation than the Asherfelter-Johnson model, because the expected coefficients of forecast variables of the Hicks model are zero.

  • In the event that any Assumed Letter of Credit cannot be assigned to Purchaser, on the Closing Date, Purchaser agrees to enter into a participation agreement with HSBC in customary form reasonably satisfactory to Purchaser and HSBC pursuant to which Purchaser shall acquire and assume all of HSBC’s rights and obligations under such Assumed Letters of Credit and become entitled to all reimbursements thereunder and collateral security and other credit support therefor.

  • Each Letter of Credit shall be denominated in Dollars, provided that certain Assumed Letters of Credit may be denominated in pounds sterling as indicated on Schedule 2.5(a).

  • The fees paid quarterly in advance for Assumed Letters of Credit and Assumed Agent Letters of Credit under the Prior Credit Agreement shall be carried forward under this Agreement, such that the first such fees payable by the Borrower under this Agreement for such Assumed Letters of Credit and Assumed Agent Letters of Credit shall be on March 31, 1998.

  • As of ----------------- ---------------------------- the Effective Date, the Agent has issued the Letters of Credit (as defined in the Prior Credit Agreement) under the Prior Credit Agreement listed on Schedule 2.1 (the "Assumed Letters of Credit").

  • The Borrower hereby assumes, as its direct and primary obligation, all Reimbursement Obligations (as defined in the Prior Credit Agreement) in connection with the Assumed Letters of Credit.


More Definitions of Assumed Letters of Credit

Assumed Letters of Credit means the letters of credit, including any standby letter of credit, issued by Seller or any of its Affiliates (other than any Bank Entity) for the account of a Branch Customer, in each case, as set forth in the Assumed Letters of Credit Schedule (as updated pursuant to Section 3.6).
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Assumed Letters of Credit means those letters of credit set forth on Exhibit F.
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Assumed Letters of Credit means the assumed Letters of Credit defined in Section 2.2(a).
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Assumed Letters of Credit shall have the meaning set forth in Section 2.3(a).
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Assumed Letters of Credit means the Letters of Credit identified on Schedule II to the Note Purchase Agreement.
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Related to Assumed Letters of Credit

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Letters of Credit as defined in Section 3.1(a).

  • 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 the Issuing Bank relating to any Letter of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

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

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

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • 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.

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • 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).

  • Revolving Loan Documents has the meaning specified for the term “Loan Documents” in the Revolving Credit Agreement.

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

  • 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.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • 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.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • 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.

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

  • 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.

  • 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.