Documentary LC definition

Documentary LC means any letter of credit (other than a Letter of Credit) that is issued by a Person that is not an Affiliate of Parent for the benefit of a supplier of inventory to Parent or any Subsidiary to effect payment for such inventory.
Sample 1Sample 2Sample 3
Documentary LC means any letter of credit (other than a Letter of Credit) that is issued by a Person that is not an Affiliate of the Parent for the benefit of a supplier of inventory to the Parent or any Subsidiary to effect payment for such inventory.
Sample 1Sample 2Sample 3

Examples of Documentary LC in a sentence

  • The payment mode, via either (a) T/T for open account payment basis or (b) Documentary L/C, must be declared by the Seller in writing at least ten (10) Indonesia business days prior to the first day of ADD.

  • Fees and expenses related to each Documentary L/C will be agreed upon at issuance.

  • If Part 4 of the Key Terms Schedule specifies that Documentary LCs are “Available” and a Borrower gives a Funding Notice requesting a Documentary LC under the Trade Finance Facility, the Lender must, subject to this agreement, issue each Documentary LC requested in the Funding Notice on the specified Funding Date in the specified Available Currency and otherwise in accordance with that Funding Notice.

  • The Agent's standard operational charges and fees will be charged for each Documentary L/C and shall be for the account of the Agent.

  • PAYMENT TERMS: Terms of Payment: by a Transferable, Irrevocable Confirmed Documentary LC 100% at Sight via MT 700/701 payable within five (5) banking days of Buyer’s Bank receiving Original Shipping Documents from Seller’s Bank.ALL buyers, please note: The buyer is liable to send (LNCS INTERNATIONAL) a draft of his bank's transferable letter of credit.

  • This fee shall be paid in advance at the time of issuance of each Documentary L/C, based upon the combined tenor of the Documentary L/C and any related time drafts and is in addition to all other fees or expenses provided for in the L/C Application, which shall be for the account of the Agent.

  • The Bank may pay a discounted amount before the maturity date under any deferred payment Documentary L/C.

  • The Customer will on demand pay to an Account with the Bank in the Customer's name, an amount in the relevant currency equal to the amount payable by the Bank under a Documentary L/C or Guarantee.

  • Prior to the issuance of a Documentary L/C, the Borrower will execute the Bank's standard Application and Agreement for Irrevocable Documentary Letters of Credit (the "Documentary L/C Agreement") and such other documents as the Bank deems necessary.

  • The Bank may honour any claim or demand purporting to be made under any Documentary L/C or Guarantee, that appears to be in order (a Claim).

Related to Documentary LC

  • 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.

  • Documentary draft means a draft to be presented for acceptance or payment if specified documents, certificated securities as defined in section 8102 or instructions for uncertificated securities as defined in section 8102, or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft.

  • Documentary evidence means any matter expressed or described upon any substance by means of letters, figures or marks intended to be used for the recording of that matter and produced before a court.

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

  • Facility LC is defined in Section 2.19.1.

  • Documentary material means the original or a copy of any book, record, report, memorandum, paper, communication, tabulation, map, chart, photograph, mechanical transcription, or other tangible document or recording.

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

  • Facility LC Application is defined in Section 2.19.3.

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

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

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

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

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

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • 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.

  • 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.

  • 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.

  • Standby is displayed, followed by a message stating “Bidding started”. Enter your “Start bid”.

  • 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 Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $60,000,000.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Report means a certificate substantially the form of Exhibit H or any other form approved by the Administrative Agent.

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

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

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