Fronting Banks definition

Fronting Banks means the Initial Fronting Banks and any other Lender designated by Weyerhaeuser to the extent such Lender has expressly agreed to perform all of the obligations that, by the terms of this Agreement, are required to be performed as the Fronting Banks, as such consent by such Lender may be evidenced from time to time by documentation reasonably acceptable to Weyerhaeuser, such Lender and the Administrative Agent.

Fronting Banks means (i) CS and Citibank, N.A., (ii) any Affiliate of any person listed in clause (i), and (iii) any Lender or Affiliate of any Lender, in each case, having a long-term credit rating acceptable to the Borrower (and, in the case of any such Affiliate, being otherwise reasonably acceptable to the Borrower) that delivers an instrument in form and substance satisfactory to the Borrower and the Agent whereby such other Lender or Affiliate agrees to act as a “Fronting Bank” hereunder and states the amount of its LC Fronting Bank Commitment.

Fronting Banks means (a) any Lender or Affiliate of any Lender, in each case, having a long-term credit rating acceptable to the Borrower (and, in the case of any such Affiliate, being otherwise reasonably acceptable to the Borrower) that delivers an instrument in form and substance satisfactory to the Borrower and the Agent whereby such other Lender or Affiliate agrees to act as a “Fronting Bank” hereunder and states the amount of its LC Fronting Bank Commitment and (b) with respect to the Existing Letters of Credit, Citibank, N.A., in its capacity as Fronting Bank and issuer thereunder.

Examples of Fronting Banks in a sentence

• The Borrower hereby grants to the Agent for the benefit of the Fronting Banks and the Lenders a Lien on the Cash Collateral Account and all funds from time to time on deposit therein to secure its reimbursement obligations in respect of Letters of Credit issued for its account.

• The rights and remedies of the Agent, the Swingline Lender, the Fronting Banks and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have.

• The Agent shall not be responsible to the Lenders or the Fronting Banks for the due execution, genuineness, validity, enforceability or effectiveness of this Agreement or other instruments or agreements.

• The Agent shall in all cases be fully protected in acting, or refraining from acting, in accordance with written instructions signed by the Required Lenders and, except as otherwise specifically provided herein, such instructions and any action or inaction pursuant thereto shall be binding on all the Lenders and the Fronting Banks.

• The Agent shall have received a written legal opinion letter of Jones Day, special counsel to the Borrower dated the date hereof, addressed to the Agent, the Swingline Lender, the Fronting Banks and the Lenders in form and substance reasonably satisfactory to the Agent.

More Definitions of Fronting Banks

Fronting Banks means the Fronting Banks, as that term is defined in the Agreement.

Fronting Banks means, from time to time, any Lenders selected by the Borrower and the Agent which have agreed to act as a fronting bank to issue Letters of Credit up to their respective Fronting Bank Commitments; provided that with respect to any particular Letter of Credit issued hereunder, “Fronting Bank” shall mean the Lender which issued that Letter of Credit;

Fronting Banks refers to ING and DB solely in their capacities as Fronting Banks in respect of the New Trade Finance Facility and, in relation to DB, the New Hedging Support Facility, and not in any other capacity or in respect of any other debt, agreement or instrument;

Fronting Banks means either:

Fronting Banks. ING Bank N.V. and Deutsche Bank AG for the Trade Finance Facility, and Deutsche Bank AG for the Hedging Support Facility. The Fronting Banks (as defined below) will receive fronting risk protection from the Participants as set out in Section 2. The Facility Agreement will allow for the accession and resignation of Fronting Banks, in each case with the consent of the Company, the other Fronting Banks (acting reasonably and with regard to operational and credit issues) and the Majority Participants. A resigning Fronting Bank shall not be required to issue further Trade LCs but will remain a party to the Facility Agreement and will benefit from relevant rights (and retain relevant obligations) while outstanding Trade LCs are run off. Société Générale will also be party to the Facility Agreement as a Fronting Bank for the Trade Finance Facility, but solely for the purposes of enabling any documentary credits under the umbrella trade finance facilities dated 13 December 2017 to be treated as Trade LCs, as set out below under “Transitional arrangements”. Société Générale will not issue any new Trade LCs and its consent as a Fronting Bank will only be required where relevant to Trade LCs issued by it.

Fronting Banks. A bank to be selected by Trading Co and the Consortium, to be appointed on terms to be set out in the Facility Agreement. The Fronting Banks will receive fronting risk protection from the Participants as set out in Subsection 2 (The Participants). The Facility Agreement will allow for the accession and resignation of Fronting Banks, in each case with the consent of Trading Co, the other Fronting Banks (acting reasonably and with regard to operational and credit issues) and the Majority Participants (as defined in Subsection 6 (Other Terms). A resigning Fronting Bank shall not be required to issue further Trade LCs but will remain a party to the Facility Agreement and will benefit from relevant rights (and retain relevant obligations) while outstanding Trade

Fronting Banks means the fronting banks providing the New Trade Finance Facility.