Company Letter of Credit definition

Company Letter of Credit. − The meaning ascribed thereto in the Power Purchase Agreement.
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Company Letter of Credit. An unconditional, irrevocable, divisible, and transferable on demand letter of credit in favour of the Power Purchaser in the form set out in Schedule 9, which is issued by a bank or other financial institution reasonably acceptable to the Power Purchaser, and which shall provide for draws by the Power Purchaser in immediately available funds on a monthly basis upon presentation at a bank in Lahore, Pakistan, and which, at the Effective Date, shall be delivered by the Company to the Power Purchaser in the amount of twenty-seven Dollars and fifty cents only ($27.50) per kW of the Contract Capacity.
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Company Letter of Credit. An unconditional, irrevocable, divisible, revolving and transferable on demand letter of credit in favour of the Power Purchaser in the form set out in Schedule 9, which is issued by a bank or other financial institution reasonably acceptable to the Power Purchaser, and which shall provide for draws by the Power Purchaser in immediately available funds on a monthly basis upon presentation at a scheduled bank in [.], Pakistan, and which, at the Effective Date, shall be delivered by the Company to the Power Purchaser in the amount of [ . ] per kW of the Contract Capacity.
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Examples of Company Letter of Credit in a sentence

  • Please see the attached Bank Letter of Credit and the Bonding Company Letter of Credit.


More Definitions of Company Letter of Credit

Company Letter of Credit means any letter of credit issued at the request or on behalf of the Company pursuant to this Agreement.
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Company Letter of Credit has the meaning specified in Section 5.7(a) of the LLC Agreement.
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Company Letter of Credit has the meaning specified in the Members Agreement.
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Related to Company Letter of Credit

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

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

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(a).

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

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

  • 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).

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

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • 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.

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

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

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

  • 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 any Group Member in the ordinary course of its business.

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

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

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

  • 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.

  • 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.

  • 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.

  • Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • 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.

  • Acceptable Letter of Credit means a clean, unconditional, irrevocable letter of credit issued by a Wisconsin bank or any other financial institution acceptable to the commissioner which renews on an annual basis for a 3–year term unless written notice of non- renewal is given to the commissioner and the limited service health organization at least 60 days prior to the renewal date.