Australian Letter of Credit definition

Australian Letter of Credit means a letter of credit (as that term is defined in the Code) issued or any standby, documentary, bankers acceptance, foreign guarantee, indemnity or bank guarantee by an Australian Issuing Bank for the account of an Australian Borrower pursuant to the Agreement.
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Australian Letter of Credit means any Australian Standby L/C or Australian Trade L/C, as each term is defined in subsection 3.1.
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Australian Letter of Credit means, collectively, the irrevocable standby letters of credit issued by (i) JPMorgan Chase Bank, N.A. in favor of JPMorgan Chase Bank, N.A. (Australia) for the account of KAIC (or Kaman Aerospace Corporation, as successor by merger to KAIC), in an aggregate outstanding amount not to exceed AUD39,516,000 at any time, pursuant to that certain Continuing Agreement for Commercial & Standby Letters of Credit among Kaman Corporation, KAIC and JPMorgan Chase Bank, N.A., dated September 4, 2008 and (ii) JPMorgan Chase Bank, N.A. (Australia) in favor of The Commonwealth of Australia for the account of KAIC (or Kaman Aerospace Corporation, as successor by merger to KAIC), in an aggregate outstanding amount not to exceed AUD39,516,000 at any time, pursuant to that certain Settlement Deed dated March 19, 2008 (as amended prior to the date hereof), by and among The Commonwealth of Australia as represented by the Department of Defense, KAIC, Kaman Aerospace Corporation, and Kaman Corporation; provided, however, that for purposes of calculating the L/C Obligations, the foregoing Letters of Credit shall be calculated as one Letter of Credit in an aggregate amount not to exceed AUD39,516,000 at any time.
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Examples of Australian Letter of Credit in a sentence

  • Each Australian Letter of Credit shall have an expiration date not later than the Maturity Date.

  • Any Australian Subsidiary Borrower may from time to time request that the Australian Issuing Lender issue an Australian Letter of Credit by delivering to the Australian Issuing Lender (with a copy to the Australian Administrative Agent) at its address for notices specified herein an Application therefor, completed to the satisfaction of the Australian Issuing Lender, and such other certificates, documents and other papers and information as the Australian Issuing Lender may reasonably request.

  • If the applicable Borrower fails to so reimburse the L/C Issuer by such time, the applicable L/C Issuer shall promptly notify the applicable Agent, and the applicable Agent shall promptly notify each applicable Lender of the Honor Date, the amount of the unreimbursed drawing (expressed in Dollars in the case of a U.S. Letter of Credit or in Australian Dollars in the case of an Australian Letter of Credit) (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof.

  • Immediately upon the issuance of each Australian Letter of Credit, each Australian Sub-facility Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Australian L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit.

  • If any draft in Australian Dollars shall be presented for payment under any Australian Letter of Credit, the Australian Issuing Lender shall promptly notify the relevant Australian Subsidiary Borrower and the Australian Administrative Agent of the date and amount of the Australian thereof.

  • The Australian Issuing Lender shall furnish a copy of such Australian Letter of Credit to the relevant Australian Subsidiary Borrower, to the Australian Administrative Agent promptly following the issuance thereof.

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  • Anything contained in this Agreement to the contrary notwithstanding, no Agent shall have any liability arising from confirmations of the amount of outstanding Loans or the Canadian Letter of Credit Usage, the U.S. Letter of Credit Usage, the Australian Letter of Credit Usage, the BA Usage or the component amounts thereof.

  • By submitting a request to an Australian Issuing Bank for the issuance of an Australian Letter of Credit, Australian Borrowers shall be deemed to have requested that such Australian Issuing Bank issue the requested Australian Letter of Credit.

  • Any such increase in Revolver Commitments may increase the U.S. Letter of Credit Sublimit or the Australian Letter of Credit Sublimit subject to the consent of the Agent and the applicable Issuing Bank; provided that any such increase in the U.S. Letter of Credit Sublimit or the Australian Letter of Credit Sublimit shall be provided by an Issuing Bank reasonably acceptable to the Agent and the Parent and the Issuing Bank at the time shall have no obligation to provide such increase.


More Definitions of Australian Letter of Credit

Australian Letter of Credit means each Existing Letter of Credit issued for the account of the Australian Borrower.
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Australian Letter of Credit or "Australian Letters of Credit" means Standby Letters of Credit issued, or deemed issued, by the applicable Issuing Lender for the account of Australian Borrower pursuant to subsection 2.7.
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Australian Letter of Credit means each Letter of Credit issued hereunder for the account of the Australian Borrower.
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Related to Australian Letter 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.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • 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.

  • 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.

  • Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05.

  • 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.

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

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • 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.

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

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

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

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or any of its Subsidiaries in the ordinary course of its business.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Letter of Credit Limit means $5,000,000.

  • 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.

  • 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.

  • 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.