Initial Letter of Credit definition

Initial Letter of Credit means the initial Letter of Credit in the form attached to the Reimbursement Agreement as Schedule I and delivered to the Trustee on or prior to the Issue Date.

Initial Letter of Credit means the irrevocable, transferable letter of credit, issued by the Initial Letter of Credit Issuer in favor of the Trustee in an aggregate amount equal to the unpaid principal of the outstanding Bonds plus one hundred ninety-five (195) days' interest thereon.

Initial Letter of Credit means the irrevocable direct pay Letter of Credit dated the Issue Date, in the form of Annex A attached to the Reimbursement Agreement (as herein defined), issued by the Bank;

Examples of Initial Letter of Credit in a sentence

• Section 5.1 Conditions to the Initial Advance and Initial Letter of Credit.

• Subtenant shall deliver to Sublandlord a new letter of credit (a “Replacement Letter of Credit”) (the Initial Letter of Credit and/or any Replacement Letter of Credit being referred to herein as a “Letter of Credit”) at least thirty (30) days prior to the expiry date of the Initial Letter of Credit or of any Replacement Letter of Credit held by Sublandlord.

• Upon the delivery to Sublandlord of a Replacement Letter of Credit as described in this Section 4, Sublandlord shall return to Subtenant the Initial Letter of Credit or any previous Replacement Letter of Credit then held by Sublandlord.

• If the requested amendment reduces an Initial Letter of Credit to zero, such original Initial Letter of Credit shall be returned to the Issuing Bank and shall be canceled.

• The amount of the Initial Letter of Credit shall not be less than the Corporate Liability as of the Effective Date.

More Definitions of Initial Letter of Credit

Initial Letter of Credit means the Letter of Credit issued by the Initial Letter of Credit Bank on the Bond Closing.

Initial Letter of Credit has the meaning set forth in the preamble.

Initial Letter of Credit means the Irrevocable Standby Letter of Credit issued by Bank One, Indiana, N.A. dated December 29, 2000 in the original principal amount of $7,770,000, as such amount has been subsequently increased to $21,345,000 and the term extended from time to time.

Initial Letter of Credit means the Letter of Credit issued by the Bank and delivered to the Trustee on December 20, 1996, as the same has been modified in connection with the issuance of the Series 1997 Bonds.

Initial Letter of Credit means the irrevocable Letter of Credit delivered on the Closing Date by the Bank for the purpose of securing the Bonds, as extended or amended from time to time.

Initial Letter of Credit means the irrevocable, direct-pay Letter of Credit, in the stated amount of $50,591,781, issued by JPMorgan Chase Bank, N.A. and effective as of the date of delivery of the Bonds.

Initial Letter of Credit means the letter of credit issued by the Initial L/C Bank in favour of the Lessor as a condition precedent to the payment by the Lessor of the Contract Price, in form and substance acceptable to the Lessor in its absolute discretion;