Former LC Bank definition

Former LC Bank has the meaning assigned to such term in Section 5.3.
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Examples of Former LC Bank in a sentence

  • In the absence of a timely appointment, the Former LC Bank shall have the right (but not the duty) to make a temporary appointment of any Lender (but only with that Xxxxxx’s consent) to act as its successor pending an appointment pursuant to the immediately preceding sentence.

  • Notwithstanding anything to the contrary contained in the foregoing, the Former LC Bank shall continue to enjoy all of the rights and remedies (as against the Borrowers and the other Lenders) provided to the Letter of Credit Issuer hereunder with respect to any and all Letters of Credit which are outstanding on the effective date of its resignation or removal and which are not replaced by Letters of Credit issued by its successor or otherwise canceled.

Related to Former LC Bank

  • Credit Account is modified to read “Grant Account”.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Regulated Bank means a commercial bank with a consolidated combined capital surplus of at least $5,000,000,000 that is (i) a U.S. depository institution the deposits of which are insured by the Federal Deposit Insurance Corporation; (ii) a corporation organized under section 25A of the U.S. Federal Reserve Act of 1913; (iii) a branch, agency or commercial lending company of a foreign bank operating pursuant to approval by and under the supervision of the Board of Governors under 12 CFR part 211; (iv) a non-U.S. branch of a foreign bank managed and controlled by a U.S. branch referred to in clause (iii); or (v) any other U.S. or non-U.S. depository institution or any branch, agency or similar office thereof supervised by a bank regulatory authority in any jurisdiction.

  • credit institutions means credit institutions as defined under Directive 2006/48/EC;

  • Ineligible Institution has the meaning assigned to such term in Section 9.04(b).

  • LC Bank has the meaning set forth in the preamble to this Agreement.

  • 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.

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

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Existing Letter of Credit means any letter of credit previously issued that (a) will remain outstanding on and after the Closing Date and (b) is listed on Schedule 1.01(d).

  • Letter of Credit Related Person has the meaning specified therefor in Section 2.11(f) of the Agreement.

  • Cash Management Account has the meaning set forth in Section 2.7(a).