Comerica Letters of Credit definition

Comerica Letters of Credit the letters of credit issued by Comerica Bank to the Target or any of its Subsidiaries prior to the Closing Date.
Comerica Letters of Credit means (i) Letter of Credit No. 575012 issued by Comerica Bank on June 13, 2002 in favor of Safety National Casualty Corporation in the original amount of $100,000 (and since increased to $700,000) for the account of Borrower; (ii) Letter of Credit No. 598836-44 issued by Comerica Bank on January 26, 2005 in favor of Insurance Company of North America, Pacific Employers Insurance Company, Westchester Fire Insurance Company, and Indemnity Insurance Company of North America in the original amount of $500,000 for the account of Borrower; and (iii) Letter of Credit No. 593737-44 issued by Comerica Bank on July 19, 2004 in favor of Nortel Networks Israel (Sales and Marketing ) Ltd. in the original amount of $300,000 for the account of Wireless Facilities International Limited.
Comerica Letters of Credit means the following standby letters of credit issued on behalf of Borrower by Comerica Bank: (i) letter of credit #619309 in favor of BMR Bayshore Blvd. LLC in the face amount of $90,000 with an expiry date of November 30, 2012, (ii) letter of credit #612664 in favor of International Fidelity Insurance in the face amount of $50,000 with an expiry date of August 31, 2013, (iii) letter of credit #632674 in favor of 1700 Xxxxxxxxxx Xxxxxx, LLC in the face amount of $32,930 with an expiry date of December 31, 2012, and (iv) letter of credit #635587 in favor of NV Broadway MOB LLC in the face amount of $9,815 with an expiry date of August 31, 2013.

Examples of Comerica Letters of Credit in a sentence

  • Although the purchase cost is expected to increase, the energy and water efficiency gains will result in lower washer-related energy costs and water costs, saving consumers $30 a year on their utility bills and 18 gallons of water for every load of wash.

  • Section 11.3(n) is hereby amended by replacing the word “and” at the end of clause (i) thereof with “,”; replacing the “;” at the end of clause (ii) with the word “and” and inserting the following new clause (iii) at the end thereof “(iii) letters of credit issued for general corporate purposes, provided the aggregate principal amount thereof secured by such Liens does not exceed an amount equal to the Comerica Letters of Credit plus U.S. $250,000 at any one time outstanding;”.

  • Borrower shall not permit Comerica Bank to automatically extend or automatically renew any of the Comerica Letters of Credit, and each Comerica Letter of Credit shall expire at the end of its current expiry date.

  • As of the Closing Date, each of the Existing Comerica Letters of Credit and Existing Wells Fargo Letters of Credit shall constitute, for all purposes of this Agreement and the other Loan Documents, a Letter of Credit issued and outstanding hereunder.

  • Comerica Letters of Credit — see the definition of “Comerica Cash Collateral”.


More Definitions of Comerica Letters of Credit

Comerica Letters of Credit means the letters of credit issued by Comerica for the account of ELFS and ELFS Brokerage and outstanding as of the Closing Date and described in Section 6 of the Disclosure Schedule.
Comerica Letters of Credit means (i) that certain ‎Letter of Credit No. OSB20037T, ‎dated October 13, 2021, as amended, and (ii) that certain Letter of Credit No. OSB22126T‎, ‎dated September 30, 2022, as amended, each issued by ‎Comerica Bank in favor of Zurich ‎‎American ‎Insurance Company.‎
Comerica Letters of Credit means the letters of credit identified on Schedule 1.1(a), in each case, as in effect on and as of the Third Amendment Effective Date.
Comerica Letters of Credit the U.S. Letters of Credit issued by Comerica Bank as an Issuing Lender.
Comerica Letters of Credit means collectively, (i) that certain Letter of Credit (no. 632070-44) established by Comerica Bank, at the request of Borrower, and with BMR-530 Fairview Avenue LLC, as beneficiary, in an amount not to exceed One Hundred Forty Two Thousand Six Hundred Eighty One and 25/100 Dollars ($142,681.25) (the “BMR Letter of Credit”) and (ii) that certain Letter of Credit (no. 650943-44) established by Comerica Bank, at the request of Borrower, and with UniCredit SPA, as beneficiary, in an amount not to exceed Twenty Six Thousand and Ten Euros (26,010 Euros) (the “UniCredit Letter of Credit”).
Comerica Letters of Credit has the meaning given in Section 7.6(c).
Comerica Letters of Credit means the (i) letter of credit issued by Comerica Bank in connection with certain Michigan Strategic Fund Limited Obligation Refunding Revenue Bonds and (ii) two letters of credit issued by Comerica Bank under the Credit Agreement for the benefit of the State of Michigan Workers Compensation Bureau.