Equity Letter of Credit definition

Equity Letter of Credit has the meaning assigned to it in the Collateral Agency Agreement.

Equity Letter of Credit means each Kiewit Equity Letter of Credit and Meridiam Equity Letter of Credit, each as defined in the Equity Contribution Agreement.

Equity Letter of Credit means each letter of credit provided in accordance with this Agreement that constitutes Acceptable Credit Support.

Examples of Equity Letter of Credit in a sentence

• Borrowers shall not be entitled to draw from any such Required Equity Letter of Credit.

• Notwithstanding anything to the contrary contained in the above, Lender is not obligated to draw upon any Required Equity Letter of Credit upon the happening of an event specified in clause (1), (2), (3) or (4) above and shall not be liable for any losses sustained by Borrowers due to the insolvency of the bank issuing any such Required Equity Letter of Credit if Lender has not drawn upon such Required Equity Letter of Credit.

• Any such renewed, extended or replacement Equity Letter of Credit shall be issued by a Qualified Letter of Credit Issuer.

• Earlier French proposals that the ICC should be able to make orders against states to pay were dropped in Rome.

• The Contributor may replace, or cause to be replaced, the Equity Letter of Credit or a Cash Collateral Account with one or more substitute Equity Letters of Credit and/or Cash Collateral Accounts from time to time, and the Collateral Agent shall deliver to the Contributor all documentation in its possession and reasonably requested by the Contributor in order to effect such replacement.

More Definitions of Equity Letter of Credit

Equity Letter of Credit means an irrevocable letter of credit issued by an LOC Issuer, naming the Administrative Agent as beneficiary, which (a) shall be in the form of EXHIBIT A hereto and (b) have a face amount equal to the initial Equity Contribution Commitment.

Equity Letter of Credit means an irrevocable standby letter of credit, denominated in dollars, issued in favor of the Collateral Agent by a Qualified Issuer, in form and substance satisfactory to the TIFIA Lender.

Equity Letter of Credit means an irrevocable letter of credit issued by a Qualified Letter of Credit Issuer, naming Cogentrix/Batesville as the account party and the Collateral Agent as beneficiary, which (a) shall be substantially in the form of Exhibit A hereto, (b) shall have a face amount equal to the Equity Amount and (c) shall expire on the date upon which the Equity Contributor has indefeasibly paid in full an Equity Contribution equal to the Equity Amount pursuant to Section 2.

Equity Letter of Credit means the Equity Letter of Credit issued by First Chicago NBD Corporation in favor of the Trustee and any successor thereto.

Equity Letter of Credit means one or more Letters of Credit, posted by the Sponsor for the benefit of the Collateral Agent, on behalf of itself and the other Secured Parties, to secure the Sponsor’s obligations to make Equity Contributions pursuant to the terms of the Equity Funding Agreement.

Equity Letter of Credit means the irrevocable standby letter of credit issued by the Equity Letter of Credit Issuer to the Trustee contemporaneously with the initial authentication and delivery of the first Bonds to be authenticated and delivered under this Indenture, including any extensions thereof, in an initial face amount equal to $40,000,000, and containing provisions for the reduction of the face amount by the amount of any deposits in the Equity Fund (other than the deposit of the Development Fee in the Equity Fund in accordance with Section 4.5(a)).

Equity Letter of Credit means the letter of credit, dated August 7, 2006, issued by Canadian Imperial Bank of Commerce, New York Agency, in favor of the Security Agent, in the face amount of $52,363,212.51 (or any replacement or substitute thereof which is an Approved Letter of Credit issued by an Approved Letter of Credit Provider (as such terms are defined in the JV Agreement) in favor of the Security Agent in the face amount of the then Remaining Capital Contribution of the Class B Member).