Assumed Letters of Credit definition

Assumed Letters of Credit shall have the meaning specified in Section 2.1(a)(9).
Sample 1Sample 2Sample 3
Assumed Letters of Credit means those certain letters of credit listed on Schedule 1.02(c).
Sample 1Sample 2Sample 3
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).
Sample 1Sample 2

Examples of Assumed Letters of Credit in a sentence

  • 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.

  • 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 Purchaser, on the 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 and collateral security and other credit support therefor.

  • 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.

  • Prior to the Closing, Parent shall take such actions as are necessary to continue to replace the Assumed Letters of Credit.

  • 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.

  • Each Lender severally and not jointly --------------------------- agrees to purchase from the Agent, and the Agent hereby agrees to sell to each Lender, an undivided percentage participating interest, to the extent of its Percentage, in each Letter of Credit (including Assumed Letters of Credit) issued by, and Reimbursement Obligation owed to, the Agent in connection with a Letter of Credit.

  • The out-of-pocket costs and expenses (excluding internal labor costs and overhead expenses) of preparing and filing any such documentation with respect to the Purchased Loans and the Assumed Letters of Credit hereunder that are allocated to Assignor under Section 8.3 of the Primary Purchase Agreement shall be split equally between Assignor and Purchaser.

  • 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").

  • 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).


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).
Sample 1
Assumed Letters of Credit means the letters of credit listed on Schedule 1.02, which were originally issued pursuant to the Existing Credit Agreement.
Sample 1
Assumed Letters of Credit shall have the meaning set forth in Section 2.3(a).
Sample 1
Assumed Letters of Credit means the Letters of Credit identified on Schedule II to the Note Purchase Agreement.
Sample 1
Assumed Letters of Credit means the assumed Letters of Credit defined in Section 2.2(a).
Sample 1
Assumed Letters of Credit means those letters of credit set forth on Exhibit F.
Sample 1

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 each of the letters of credit issued under the Existing Credit Agreement outstanding on the Closing Date that are described on Schedule 1.01(b).

  • 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.

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

  • 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 1.3(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 a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

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

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Revolving Loan Documents means the “Loan Documents” as defined in the Revolving Credit Agreement.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • 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, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such 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 a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • 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 shall have the meaning provided in Section 2.01(a).

  • 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.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.