German Letters of Credit definition

German Letters of Credit the letters of credit and Bank Guarantees issued for the account of the German Borrower on and after the Restatement Effective Date pursuant to Section 3C (including German Performance Letters of Credit).
Sample 1
German Letters of Credit means a Letter of Credit requested by a German Opco. German Opco and German Opcos — see the Preamble. German Revolving Commitment or German Revolving Loan Commitment means, with respect to a Permanent Lender at the applicable time, the commitment of such Permanent Lender to make German Revolving Loans. The initial amount (in Dollars) of the respective German Revolving Commitment of each initial Permanent Lender that has made such a commitment is set forth in Annex A hereto. The German Revolving Commitment of each Permanent Lender may be reduced pursuant to Section 6. The German Revolving Commitment(s) of the applicable assigning and assignee Permanent Lender shall be adjusted to give effect to any assignments of a German Revolving Commitment(s) pursuant to Section 15.6.1. German Revolving Commitments or the German Revolving Loan Commitments means, collectively, the aggregate amount, at the applicable time, of all German Revolving Commitments of all Permanent Lenders. The initial aggregate amount of the German Revolving Commitments shall be $15,000,000.
Sample 1
German Letters of Credit is defined in Section 2.1.2. delivered by the German Borrower pursuant to Section 5.2.4 , in form and substance reasonably satisfactory to Agent, as amended, supplemented or modified from time to time.
Sample 1

Examples of German Letters of Credit in a sentence

  • All payments due from German Borrower hereunder in respect of German Letters of Credit (and Reimbursement Obligations in connection therewith) shall be made in Euros.

  • Amounts held in such cash collateral account with respect to German Letters of Credit shall be applied by the Administrative Agent to the payment of drafts drawn under such German Letters of Credit, and the unused portion thereof after all such German Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other obligations of the German Borrower hereunder and under the other Loan Documents.

  • As such German Letters of Credit expire or are fully drawn upon, all Reimbursement Obligations shall have been satisfied and all other obligations of the German Borrower hereunder and under the other Loan Documents shall have been paid in full, the balance, if any, in such cash collateral account shall be returned to German Borrower(or such other Person as may be lawfully entitled thereto).

  • The reports shall be delivered on or about January 1 and July 1 of each Calendar Year.

  • The German Letters of Credit may only be issued in Dollars or Euros.

  • Such fees shall be payable in Euros and in addition, the German Borrower shall pay to the relevant German Issuing Lender for its own account a fronting fee on the aggregate drawable amount of all outstanding German Letters of Credit issued by it of 1/8 of 1% per annum, payable quarterly in arrears on each German L/C Fee Payment Date after the issuance of date of such German Letter of Credit.

  • German Issuing Bank may employ agents and attorneys-in-fact in connection with any matter relating to German Letters of Credit or LC Documents, and shall not be liable for the negligence or misconduct of agents and attorneys-in-fact selected with reasonable care.

  • German Letters of Credit: any standby or documentary letter of credit issued by the German Issuing Bank for the account of the German Borrower, or any indemnity, guarantee, exposure transmittal memorandum or similar form of credit support issued by Agent or the German Issuing Bank for the benefit of the German Borrower or any of its Subsidiaries.

  • Upon request by a German Lender, German Issuing Bank shall furnish copies of any German Letters of Credit and LC Documents in its possession at such time.

  • German Borrower may reduce the German Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the German Revolver Usage as of such date, plus (B) the principal amount of all German Revolving Loans not yet made as to which a request has been given by German Borrower under Section 2.3(a), plus (C) the amount of all German Letters of Credit not yet issued as to which a request has been given by German Borrower.


More Definitions of German Letters of Credit

German Letters of Credit means (a) (i) the letter of credit in the amount of $14,800,000 issued by JPMorgan Chase Bank in favor of Hypo Vereinsbank and (ii) the letter of credit in the amount of $5,000,000 issued by JPMorgan Chase Bank in favor of Dresdner Bank and (b) any Letter of Credit issued hereunder in replacement of any letter of credit described in clause (a) above.
Sample 1

Related to German Letters of Credit

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

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • 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.

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

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

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

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

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

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Revolving Loan Documents has the meaning specified for the term “Loan Documents” in the Revolving Credit Agreement.

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

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

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

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.