Description And Purpose definition

Description And Purpose. Trade Bank will issue standby letters of credit (each a "Standby Credit") for the account of Borrower the purpose or purposes stated below. Subject to the credit sublimits specified above, these Standby Credits will be issued to support Borrower's open account trade terms, bid and performance bonds, industrial revenue bonds, worker's compensation obligations and or the moving of Borrower as a new customer from another bank to Trade Bank. The Standby Credit Sublimit specified above refers to the aggregate undrawn amount of all Standby Credits which may be at any one time outstanding under this Subfacility together with the aggregate amount of all drafts drawn under such Standby Credits which have not been reimbursed as provided below at such time. This Subfacility may only be used for the following purpose: to secure performance for xxxxxxx’x compensation and to secure lease agreements. Documents: Before the first Standby Credit is issued: Trade Bank's standard form Continuing Standby Letter of Credit Agreement. Before each Standby Credit is issued: Trade Bank's standard form Application For Standby Letter of Credit. Before each Standby Credit is amended: Trade Bank's standard form Application For Amendment To Letter of Credit. Term: No Standby Credit will expire more than three hundred sixty-five (365) calendar days after the date it is issued. Standby Credits will be available by sight drafts only.
Description And Purpose. Trade Bank will issue sight commercial letters of credit (each a “Sight Commercial Credit”) for the account of Borrower for the purpose or purposes stated below. Subject to the credit sublimits specified above, these Sight Commercial Credits will be transferable or not transferable and have the goods related to them consigned to or not consigned to, or controlled by or not controlled by, Trade Bank. The Sight Commercial Credit Sublimit specified above refers to the aggregate undrawn amount of all Sight Commercial Credits which may be at any one time outstanding under this Facility together with the aggregate amount of all drafts drawn under such sight Commercial Credits which have not been reimbursed as provided below at such time. This Subfacility may only be used for the following purpose: For the importation of furniture. Documents: Before the first Sight Commercial Credit is issued: Trade Bank’s standard form Commercial Letter of Credit Agreement; Before each Sight Commercial Credit is issued: Trade Bank’s standard form Application For Commercial Letter of Credit; Before each Sight Commercial Credit is amended: Trade Bank’s standard form Application For Amendment To Letter of Credit; Term: No Sight Commercial Credit may expire more than one hundred eighty (180) calendar days after the date it is issued. • Standby Credits:
Description And Purpose. Trade Bank will issue standby letters of credit ----------------------- (each a "Standby Credit") for the account of Borrower the purpose or purposes stated below. Subject to the credit sublimits specified above, these Standby Credits will be issued to support Borrower's open account trade terms, bid and performance bonds, industrial revenue bonds, worker's compensation obligations and or the moving of Borrower as a new customer from another bank to Trade Bank. The Standby Credit Sublimit specified above refers to the aggregate undrawn amount of all Standby Credits which may be at any one time outstanding under this Subfacility together with the aggregate amount of all drafts drawn under such Standby Credits which have not been reimbursed as provided below at such time. This Subfacility may only be used for the following purpose: Issuance of Standby Credits in support of open account trade items in connection with the purchase of telecommunications equipment and/or support lease obligations of Borrower to landlord(s).

Examples of Description And Purpose in a sentence

  • Key Components Of 2021 Compensation Program Description And Purpose Base SalaryFixed compensation intended to provide a base level of income regardless of performance and aid in the attraction and retention of talent in a competitive market.

  • We are yet far from understanding the complex mechanisms of blood pressure Saluretic Agent (Chlorothiazide), Lancet 2:831, 1957.

  • We use a thorough process for determining Named Executive Officer compensation, including a review of peer group compensation data and pay practices.Key Components Of 2022 Compensation Program Description And Purpose Base SalaryFixed compensation intended to provide a base level of income regardless of performance and aid in the attraction and retention of talent in a competitive market.

  • He has previously heldthe role of chief operating officer of RIMH, the former Investment Adviser to Redefine International.


More Definitions of Description And Purpose

Description And Purpose. Trade Bank will issue shipping guarantees for the account of Borrower. These shipping guarantees will be undertakings for delivery of cargo without surrender of bills of lading, or any other undertakings, agreements, guarantees, indemnities, releases, bonds, letters, documents or authorizations to or in favor of a carrier or other person or entity in order to permit delivery to Borrower of property. The Shipping Guarantees Credit Sublimit specified above for this Facility refers to the aggregate amount of all shipping guarantees which may be outstanding at any one time.
Description And Purpose. Trade Bank will issue standby letters of credit (each a “Standby Credit”) for the account of Borrower for the purpose or purposes stated below. Subject to the credit sublimits specified above, these Standby Credits will be issued to support Borrower’s open account trade terms, bid and performance bonds, industrial revenue bonds, worker’s compensation obligations and or the moving of Borrower as a new customer from another bank to Trade Bank. The Standby Credit Sublimit specified above refers to the aggregate undrawn amount of all Standby Credits which may be at any one time outstanding under this Subfacility together with the aggregate amount of all drafts drawn under such Standby Credits which have not been reimbursed as provided below at such time. This Subfacility may only be used for the following purposes: To secure lease deposits for new retail space and to provide assurance of payment to suppliers. Documents: Before the first Standby Credit is issued: Trade Bank’s standard form Standby Letter of Credit Agreement. Before each Standby Credit is issued: Trade Bank’s standard form Application For Standby Letter of Credit. Before each Standby Credit is amended: Trade Bank’s standard form Application For Amendment To Letter of Credit. Term: No Standby Credit will expire more than three hundred sixty (360) calendar days after the date it is issued. Standby Credits will be available by sight drafts only. REIMBURSEMENTS FOR SIGHT COMMERCIAL CREDITS AND STANDBY CREDITS: The amount of each drawing paid by Trade Bank under a Sight Commercial Credit or Standby Credit will be reimbursed to Trade Bank as follows: by Trade Bank having Xxxxx Fargo Bank debit any of Borrower’s accounts with Xxxxx Fargo Bank and forwarding such amount debited to Trade Bank; or immediately on demand of Trade Bank; or by treating such amount drawn as an advance to Borrower under Borrower’s Revolving Credit Facility.
Description And Purpose. Trade Bank will issue usance commercial letters of credit (each a "Usance Commercial Credit") for the account of Borrower and create bankers' acceptances from drafts drawn under these Usance Commercial Credits ("Acceptances") and, if indicated above, incur deferred payment obligations from drawings under Usance Commercial Credits. Subject to the credit sublimits specified above, these Usance Commercial Credits will be transferable or not transferable and have the goods related to them consigned to or not consigned to, or controlled by or not controlled by, Trade Bank. The Usance Commercial Credit Sublimit specified above refers to the aggregate undrawn amount of all Usance Commercial Credits together with the aggregate amount of all Acceptances and deferred payment obligations which may be outstanding at any one time under each subcategory of the Usance Commercial Credit Sublimit. This Subfacility may only be used for the following purpose: To finance the importation of pre-assembled satellite communications systems and components for the assembly of satellite communication systems.
Description And Purpose. Trade Bank will issue standby letters of credit (each a "Standby Credit") for the account of Borrower the purpose or purposes stated below. Subject to the credit sublimits specified above, these Standby Credits will be issued to support Borrower's open account trade terms, bid and performance bonds, industrial revenue bonds, worker's compensation obligations, or the moving of Borrower as a new customer from another bank to Trade Bank. The Standby Credit Sublimit specified above refers to the aggregate undrawn amount of all Standby Credits which may be at any one time outstanding under this Subfacility together with the aggregate amount of all drafts drawn under such Standby Credits which have not been reimbursed as provided below at such time. This Subfacility may only be used for the following purpose: To provide support for warranties and performance bonds for the benefit of Borrower's customers.

Related to Description And Purpose

  • DESCRIPTION OF WORK [INSERT] SUBMISSION DEADLINE: [INSERT] APPROXIMATE SPECIFICATIONS: [ ] words; [ ] pages; [ ] images/drawings/figures

  • Form of Agreement means the form of agreement contained in Part D of the RFP;

  • Primary Purpose means the collection, use, or disclosure of information collected by the Company or supplied by the Customer in order to: (1) provide, bill, or collect for, regulated electric service; (2) provide for system, grid, or operational needs; (3) provide services as required by state or federal law or as specifically authorized by an order of the Commission; (4) plan, implement, or evaluate programs, products or services related to energy assistance, demand response, energy management, energy efficiency, or renewable energy by the Company or under contract with the Company, under contract with the Commission, or as part of a Commission-authorized program conducted by an entity under the supervision of the Commission, or pursuant to state or federal statutes governing energy assistance; and (5) disclosure of customer name and address to a provider of appliance repair services in compliance with MCL 460.10a(9)(a), or to otherwise comply with the Code of Conduct.

  • and Gentlemen We are acting as special counsel with respect to New York tax matters for the unit investment trust or trusts included in the series identified as FT 3368 (each, a "Trust"), which will be established under a certain Standard Terms and Conditions of Trust dated December 9, 2003, and a related Trust Agreement dated as of today (collectively, the "Indenture") among First Trust Portfolios L.P., as Depositor (the "Depositor"), First Trust Advisors L.P., as Evaluator, First Trust Advisors L.P., as Portfolio Supervisor, FTP Services LLC, as FTPS Unit Servicing Agent, and The Bank of New York Mellon as Trustee (the "Trustee"). Pursuant to the terms of the Indenture, units of fractional undivided interest in the Trust (the "Units") will be issued in the aggregate number set forth in the Indenture. We have examined and are familiar with originals or certified copies, or copies otherwise identified to our satisfaction, of such documents as we have deemed necessary or appropriate for the purpose of this opinion. In giving this opinion, we have relied upon the two opinions, each dated today and addressed to the Trustee, of Chapman and Cutler XXX, xounsex xxx the Depositor, with respect to the factual assumptions and the matters of law set forth therein. We have assumed that the assets of the Trust will consist exclusively of debt securities, equity securities in entities classified as corporations for federal income tax purposes, or a combination thereof. Based upon the foregoing, we are of the opinion that the Trust will not constitute an association taxable as a corporation under the relevant tax laws of the State and City of New York, and accordingly will not be subject to the New York State franchise tax (New York State Consolidated Laws Chapter 60, Article 9-A) or the New York City general corporation tax (New York Administrative Code Title 11, Chapter 6, Subchapter 2). We consent to the filing of this opinion as an exhibit to the Registration Statement (No. 333-178965) filed with the Securities and Exchange Commission with respect to the registration of the sale of the Units and to the references to our name in such Registration Statement and the preliminary prospectus included therein. Very truly yours, CARTER LEDYARD & MXXXXXX XXX

  • Business Purpose means the use of personal information for the business’s or a service provider’s operational purposes, or other notified purposes, provided that the use of personal information shall be reasonably necessary and proportionate to achieve the operational purpose for which the personal information was collected or processed or for another operational purpose that is compatible with the context in which the personal information was collected. Business purposes are:

  • Memorandum of Agreement means the agreement executed by and between FFA and the Institution in which these Conditions have been incorporated by reference;

  • Description of Notes means the “Description of the Notes” section of the Final Offering Memorandum.

  • Service Descriptions means user manuals and other documentation relating to the Services that are made available to Customer by Provider in digital or hardcopy form, as updated from time to time.

  • Ladies and Gentlemen For value received, the undersigned beneficiary hereby irrevocably transfers to: ------------------------------ [Name of Transferee] ------------------------------ [Address of Transferee] all rights and obligations of the undersigned as Borrower under the Liquidity Agreement referred to above. The transferee has succeeded the undersigned as Subordination Agent under the Intercreditor Agreement referred to in the first paragraph of the Liquidity Agreement, pursuant to the terms of Section 8.1 of the Intercreditor Agreement. By this transfer, all rights of the undersigned as Borrower under the Liquidity Agreement are transferred to the transferee and the transferee shall hereafter have the sole rights and obligations as Borrower thereunder. The undersigned shall pay any costs and expenses of such transfer, including, but not limited to, transfer taxes or governmental charges. We ask that this transfer be effective as of _______________, ____. WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Subordination Agent, as Borrower By:_____________________________________ Name: Title:

  • Project Description means the document that describes the Project's Reduction activities and that uses either the VCS Project Description Template or the project description template specified by the relevant Approved GHG Program;

  • TERMS OF SALE IF YOU SUCCESSFULLY BID ON A PROPERTY, YOU WILL BE REQUIRED TO PAY THE ADVERTISED DEPOSIT WHICH MUST BE IN THE FORM OF CASH OR A CASHIER’S CHECK MADE PAYABLE TO YOURSELF. THIS IS A CASH SALE AND IS NOT CONTINGENT UPON THE BUYER’S ABILITY TO OBTAIN FINANCING. XXXXXXX MONEY IS NOT CONSIDERED AN “OPTION” PAYMENT. YOU ARE AGREEING TO CLOSE ON THE PROPERTY WHEN YOU SUCCESSFULLY BID ON THE PROPERTY. The successful bidder for each property shall execute an “auction real estate sales contract” for each property immediately after being declared the successful bidder by the auctioneer. Copies of this sales contract are available for review on website (xxx.XxxxxxxXxxxxxx.xxx) Bidding increments are made in amounts acceptable to the Auctioneer, who may set a minimum bidding increment as the sale progresses. Any bid may be rejected by the Auctioneer if it is merely nominal or, at his or her discretion, it may negatively affect the auction process. Auctions will be either Absolute or Reserve. If this is an Absolute Sale, the high bidder shall be the Purchaser. If this is a Reserve sale the seller may accept or reject the high bidder, however; if the bid exceeds the predetermined Reserve Price the auction will become an Absolute auction and will be sold to the high bidder. In the event of a dispute between bidders the Auctioneer in its discretion may determine the successful bidder or re-offer the property for sale. By bidding at an auction, whether present or by agent, by written bid or otherwise, bidders shall be deemed to have consented to the jurisdiction of the State and Federal courts of the State of Maryland. If property is tenant occupied, the property will be sold subject to the existing tenant in dwelling. Broker Participation Invited: A 2.5% buyer broker commission, before the inclusion of the Buyer’s Premium, will be paid to brokers who represent a purchaser on any auction property. The Buyer’s Premium is based on only the Bid Price of each auction sale. In order to be paid a commission, the buyer broker must do the following: ►Register clients at least 48 hours prior to auction on xxx.XxxxxxxXxxxxxx.xxx ►Accompany client to auction sale ►Review the “terms and conditions of sale” with each client you represent Each step must be completed. If any of these steps have been omitted, the broker will not be paid a commission. There will be no exceptions. Bidders will be required to acknowledge buyer broker relationship as they register at the sale. By bidding, each bidder and buyer broker agree to indemnify and hold harmless seller and auctioneer for any and all claims for compensation made by any person or entity in connection with the auction. TITLE: All properties will be sold with free and clear title. All properties are being sold subject to any ground rent of record. In the event there is an error in the advertised ground rent or the contract states “Fee Simple”, the Buyer shall take title with the existing ground rent of record and there shall not be a monetary penalty to the seller. SAMPLE In the event, there is an error regarding fee simple or ground rent in the chain of title including deeds, the Buyer shall take title with the existing ground rent of record and there shall not be a monetary penalty to the seller. In event of a ground rent escrow, the title company or settlement company agrees not to charge an escrow holding fee to the seller. If the Trustee/ Seller is unable to convey good and marketable title, the purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Trustee/ Seller or Auctioneers.

  • Maintenance and Support means updates, upgrades, patches, fixes, etc. and technical support provided for the Products and Services that Supplier is required to provide directly to DXC or a DXC Customer.

  • Articles of Agreement means the Articles of Agreement of the Bank.

  • Term of Agreement shall have the meaning ascribed thereto in Article 2 of this Agreement;

  • Exclusive use means the sole use by a single consignor of a conveyance for which all initial, intermediate, and final loading and unloading are carried out in accordance with the direction of the consignor or consignee. The consignor and the carrier must ensure that any loading or unloading is performed by personnel having radiological training and resources appropriate for safe handling of the consignment. The consignor must issue specific instructions, in writing, for maintenance of exclusive use shipment controls, and include them with the shipping paper information provided to the carrier by the consignor.

  • Specifications and Standards means the specifications and standards relating to the quality, quantity, capacity and other requirements for the Project Highway, as set forth in Schedule-D, and any modifications thereof, or additions thereto, as included in the design and engineering for the Project Highway submitted by the Contractor to, and expressly approved by, the Authority;

  • public purpose means any of the purposes for which land may be reserved under Part 4 of the Land Administration Act 1997, and any purpose declared by the Governor pursuant to that Act, by notification in the Government Gazette to be a public purpose within the meaning of that Act;

  • Palliative and supportive care means care and support aimed mainly at lessening or controlling pain or symptoms; it makes no attempt to cure the Covered Person's terminal Illness or terminal Injury.

  • Maintenance and Support Services means the services provided by Contractor under Appendix F.