Foreign Issuing Bank definition
Foreign Issuing Bank means any Issuing Bank that is organized under the laws of a jurisdiction other than that in which the Borrower is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.
Foreign Issuing Bank means an Issuing Bank that has agreed to issue Foreign Letters of Credit.
Foreign Issuing Bank means any Issuing Bank that is not a “United States person” within the meaning of Section 7701(a)(30) of the Code.
Examples of Foreign Issuing Bank in a sentence
The rights and remedies of Foreign Issuing Bank under the Loan Documents shall be cumulative.
Foreign Issuing Bank and its officers, directors, employees, Affiliates, agents and attorneys.
Foreign Issuing Bank may employ agents and attorneys-in-fact in connection with any matter relating to Foreign Letters of Credit or Foreign LC Documents, and shall not be liable for the negligence or misconduct of agents and attorneys-in-fact selected with reasonable care.
Foreign Issuing Bank shall be fully subrogated to the rights and remedies of each beneficiary whose claims are discharged with proceeds of any Foreign Letter of Credit issued by Foreign Issuing Bank.
Foreign Issuing Bank assumes no responsibility for any failure or delay in performance or any breach by Foreign Borrowers or other Person of any obligations under any Foreign LC Documents.
More Definitions of Foreign Issuing Bank
Foreign Issuing Bank means any Issuing Bank that is organized under the laws of a jurisdiction other than that in which the Account Party is incorporated or organized. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.
Foreign Issuing Bank means any Issuing Bank that is organized under the laws of a jurisdiction other than the United States of America. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. “Foreign Subsidiary” shall mean any Subsidiary that is not a Domestic Subsidiary. “Foreign Subsidiary Borrower” shall mean any Subsidiary Borrower that is a Foreign Subsidiary. “GAAP” shall mean generally accepted accounting principles applied on a basis consistent with those that, in accordance with the last sentence of Section 1.03(a) hereof, are to be used in making the calculations for purposes of determining compliance with this Agreement. “Governmental Authority” shall mean the government of the United States of America or any other nation, or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity (including any federal or other association of or with which any such nation may be a member or associated) exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. “Granting Bank” shall have the meaning specified in Section 11.06(b) hereof. “Guarantee” shall mean a guarantee, an endorsement, a contingent agreement to purchase or to furnish funds for the payment or maintenance of, or otherwise to be or become contingently liable under or with respect to, the Indebtedness, other obligations, net worth, working capital or earnings of any Person, or a guarantee of the payment of dividends or other distributions upon the stock or equity interests of any Person, or an agreement to purchase, sell or lease (as lessee or lessor) Property, products, materials, supplies or services primarily for the purpose of enabling a debtor to make payment of such debtor’s obligations or an agreement to assure a creditor against loss, and including, without limitation, causing a bank or other financial institution to issue a letter of credit or other similar instrument for the benefit of another Person, but excluding endorsements for collection or deposit in the ordinary course of business. The terms “Guarantee” and “Guaranteed” used as a verb shall have a correlative meaning.
Foreign Issuing Bank means each Foreign Initial Issuing Bank, and any other Foreign Revolving Credit Lender approved as a Foreign Issuing Bank by the Foreign Administrative Agent and the Foreign Borrower and any Eligible Assignee to which a Foreign Letter of Credit Commitment hereunder has been assigned pursuant to Section 7.09 or 10.07.
Foreign Issuing Bank means any Issuing Bank that is not, for United States federal income tax purposes, (i) a citizen or resident of the Untied States; (ii) a corporation or entity treated as a corporation created or organized in or under the laws of the United States, or any political subdivision thereof; (iii) an estate the income of which is subject to U.S. federal income taxation regardless of its source or (iv) a trust if a court within the United States is able to exercise primary supervision over the administration of such trust and one or more United States Persons have the authority to control all such decisions of such trust.
Foreign Issuing Bank as defined in Section 10.16.
Foreign Issuing Bank means (a) HSBC Bank Canada (or any of its Affiliates) (b) U.K. Bank, and (c) any other Bank (or any of its Affiliates) appointed by the Foreign Borrowers and approved by the Foreign Agent that agrees to issue Foreign Letters of Credit or Bank Guaranties hereunder.
Foreign Issuing Bank any Person that is not a “United States person” within the meaning of Section 7701(a)(30) of the Internal Revenue Code and who receives a payment from the Account Party pursuant to a Credit Document.