Foreign Currency Letters of Credit definition

Foreign Currency Letters of Credit means, collectively, the Bank One Foreign Currency Letters of Credit and Other Foreign Currency Letters of Credit.
Sample 1Sample 2
Foreign Currency Letters of Credit at any time, all Letters of Credit then denominated in an Available Foreign Currency.
Sample 1Sample 2
Foreign Currency Letters of Credit means, collectively, the ABN AMRO Foreign Currency Letters of Credit and Other Foreign Currency Letters of Credit.
Sample 1

Examples of Foreign Currency Letters of Credit in a sentence

  • The Administrative Agent shall be permitted from time to time to designate one of its Affiliates to perform the duties to be performed by the Administrative Agent hereunder with respect to Loans and Borrowings denominated in Foreign Currencies and Foreign Currency Letters of Credit.

  • In addition, subject to the terms and conditions set forth herein, each Borrower may request the issuance of Dollar Letters of Credit and Foreign Currency Letters of Credit for its own account, in each case in a form reasonably acceptable to the applicable Issuing Bank, at any time and from time to time during the Availability Period and prior to the date that is five Business Days prior to the Revolving Credit Maturity Date.

  • All deposits made pursuant to preceding clause (i) shall be made in Dollars or, with respect to Foreign Currency Letters of Credit, in the applicable Available Foreign Currency or as the applicable Issuing Bank may otherwise agree.

  • Amounts due under this Agreement in respect of any Letter of Credit shall be deemed paid for the purposes of this Agreement only, in the case of Dollar Letters of Credit, to the extent paid in Dollars or, in the case of Foreign Currency Letters of Credit, to the extent paid in the applicable Foreign Currency, except to the extent expressly provided otherwise in this Agreement.

  • The payment by any Issuing Bank of a draft drawn under any Letter of Credit shall constitute for all purposes of this Agreement the making by such Issuing Bank of a Letter of Credit Advance, which shall be a Base Rate Advance, in the Dollar Equivalent amount of such draft (in the case of Foreign Currency Letters of Credit, calculated by the applicable Issuing Bank using the applicable Spot Rate determined as of the date of such payment).

  • The Letter of Credit Fee shall be payable quarterly in arrears on the first Business Day of each calendar quarter, and with respect to any Foreign Currency Letters of Credit, payable in Dollars based on the Spot Rate as of the prior quarter end.

  • All payments under this Agreement or any other Loan Document shall be made in Dollars, except for Loans or Foreign Currency Letters of Credit funded or issued (as applicable) in any Foreign Currency, which shall be repaid, including interest thereon, in such Foreign Currency.

  • In addition, (i) the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the Total Revolving Commitments in effect at such time and (ii) the Dollar Equivalent of all Revolving Loans funded in Foreign Currencies and the aggregate L/C Exposure with respect to Foreign Currency Letters of Credit shall not exceed the Foreign Currency Sublimit.

  • For the purposes of this paragraph, the Foreign Currency Letters of Credit shall be calculated using the Spot Rate on the date notice demanding Cash Collateralization is delivered to Intermediate Holdings (or the date of the Event of Default under Section 7.01(h) or (i), if applicable).

  • If the total amount of Loans denominated in Foreign Currency plus the LC Exposure for Foreign Currency Letters of Credit exceeds the Foreign Currency Sublimit, then the Borrower must take the actions required by Section 2.11(c).


More Definitions of Foreign Currency Letters of Credit

Foreign Currency Letters of Credit means Letters of Credit issued in a Foreign Currency pursuant to Section 2.23(a)(ii).
Sample 1
Foreign Currency Letters of Credit means, collectively, the JPMorgan Foreign Currency Letters of Credit and Other Foreign Currency Letters of Credit.
Sample 1

Related to Foreign Currency Letters of Credit

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Foreign Currency LC Exposure means, at any time, the sum of (a) the Dollar Amount of the aggregate undrawn and unexpired amount of all outstanding Foreign Currency Letters of Credit at such time plus (b) the aggregate principal Dollar Amount of all LC Disbursements in respect of Foreign Currency Letters of Credit that have not yet been reimbursed at such time.

  • Alternative Currency means each of Euro, Sterling and each other currency (other than Dollars) that is approved in accordance with Section 1.06.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Multicurrency LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Multicurrency Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Multicurrency LC Exposure of any Lender at any time shall be its Applicable Multicurrency Percentage of the total Multicurrency LC Exposure at such time.

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Dollar Equivalent of the Currency Unit shall be determined by the Exchange Rate Agent and subject to the provisions of paragraph (h) below shall be the sum of each amount obtained by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange Rate for such Component Currency on the Valuation Date with respect to each payment.

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars, Euros, Pound Sterling, New Zealand Dollars and Australian Dollars and any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto in their sole discretion and (ii) with respect to any Loan, any currency other than Dollars that is approved in accordance with Section 1.05.

  • Alternative Currencies means (a) Euro, (b) Sterling, (c) Yen and (d) each other currency (other than Dollars) approved in accordance with Section 1.08.

  • 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.

  • Canadian Revolving Loans means Revolving Loans made to the Canadian Borrower under Section 2.2, including Bankers’ Acceptance Advances.

  • Foreign Currency Loan means each Revolving Loan denominated in a Designated Foreign Currency and bearing interest at a rate based upon the Adjusted Foreign Currency Rate.

  • Letters of Credit as defined in Section 3.1(a).

  • Dollar Equivalent of the Foreign Currency has the meaning specified in Section 312(f).

  • Offshore Currency means any lawful currency (other than dollars) that the relevant Issuing Bank with respect to any Offshore Currency Letter of Credit, in its sole reasonable opinion, at any time determines to be (a) freely traded in the offshore interbank foreign exchange markets, (b) freely transferable and (c) freely convertible into dollars.

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Eligible Currency means any currency other than Dollars (i) that is readily available, (ii) that is freely traded, (iii) in which deposits are customarily offered to banks in the London interbank market, (iv) that is convertible into Dollars in the international interbank market and (v) as to which a Dollar Equivalent Amount may be readily calculated. If, after the designation by the Revolving Credit Lenders of any currency as an Agreed Currency, (x) currency control or other exchange regulations are imposed in the country in which such currency is issued with the result that different types of such currency are introduced, (y) such currency is, in the reasonable determination of the Administrative Agent, no longer readily available or freely traded or (z) in the reasonable determination of the Administrative Agent, a Dollar Equivalent Amount of such currency is not readily calculable, the Administrative Agent shall promptly notify the Lenders and the Company, and such currency shall no longer be an Agreed Currency until such time as all of the Revolving Credit Lenders agree to reinstate such currency as an Agreed Currency and promptly, but in any event within five Business Days of receipt of such notice from the Administrative Agent, the Borrower shall repay all Loans in such affected currency or convert such Loans into Loans in Dollars or another Agreed Currency, subject to the other terms set forth in Article II.

  • Canadian Dollar Equivalent of any amount which is expressed in United States Dollars means, on any date, the Canadian dollar equivalent of such amount determined by multiplying such amount by the U.S. - Canadian Exchange Rate in effect on such date;

  • Foreign Currencies means Agreed Currencies other than Dollars.

  • Issue Currency or "SEK" means Swedish Krona. "Launch Date" means 04 March 2022.

  • Canadian Dollar means the lawful currency of Canada.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.