Contractor Letter of Credit definition

Contractor Letter of Credit has the meaning set forth in Section 10.2.
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Contractor Letter of Credit means a standby letter of credit issued by an Acceptable Credit Provider in an aggregate amount equal to USD ***** in support of Contractor’s obligations under this Agreement and Owner’s obligations under the Charter Agreement and on terms reasonably acceptable to Customer, which shall include an obligation to keep the letter of credit renewed or replaced during the Term.
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Contractor Letter of Credit means a letter of credit containing the material terms set forth in Exhibit I.
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Examples of Contractor Letter of Credit in a sentence

  • If the Contractor Guarantor ceases to be an Acceptable Guarantor, then Contractor shall be required to either (i) provide a replacement Contractor Guaranty from a different Acceptable Guarantor, or (ii) replace the Contractor Guaranty provided by the unqualified Contractor Guarantor with a Contractor Letter of Credit meeting the criteria set forth in this Article 15, in each case, no later than ten (10) Business Days after such the Guarantor ceases to be an Acceptable Guarantor.

  • Such funds as are payable by the Union or Prime Masonry Contractor or Masonry Contractor may be drawn against the Union Letter of Credit, or any Contractor Letter of Credit, as the case may be.

  • In addition, if the SEC and/or the U.S. Attorney’s Office were to charge the Company with violations, we could potentially be subject to fines, penalties or other adverse consequences, and our business and financial condition could be adversely impacted.

  • JOSEPHS HOSPITAL HEALTH CENTER 301 PROSPECT AVENUESYRACUSE, NY 13203-18072b Employer Identification Number (EIN)15-05322542c Plan Sponsor’s telephone number315-448-51112d Business code (see instructions) 622000 Caution: A penalty for the late or incomplete filing of this return/report will be assessed unless reasonable cause is established.


More Definitions of Contractor Letter of Credit

Contractor Letter of Credit means the irrevocable letter of credit issued to the Trustee by UMB Bank of Kansas City pursuant to an agreement between the Contractor and such bank, as security for the Contractor’s obligation under Article 14 of the Construction Contract to pay liquidated damages, and any amended letter of credit or substitute letter of credit approved by the Insurer.
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Contractor Letter of Credit the better of Credit for the account of the Turnkey Contractor in favor of the Borrower, in form and substance satisfactory to the Required Lenders, to support the obligations of the Turnkey Contractor under the Turnkey Contract.
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Related to Contractor Letter of Credit

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

  • 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.

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

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

  • 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.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

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

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

  • 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.

  • 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.

  • 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.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit D, together with the standard form of application for letter of credit used by the applicable Issuing Bank, signed by a Senior Officer of the applicable Borrower and properly completed to provide all information required to be provided therein.

  • 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.

  • 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.

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

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

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

  • Standard Letter of Credit Practice means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

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

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

  • Auto-Reinstatement Letter of Credit has the meaning specified in Section 2.03(b)(iv).

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