Initial Letters of Credit definition

Initial Letters of Credit means the letters of credit issued by Bank One on behalf of the Company pursuant to the Prior Agreement or any previous version thereof which remain outstanding on the Closing Date.

Initial Letters of Credit means letters of credit in the form attached as Annex 2 hereto issued on the date hereof.

Initial Letters of Credit means, in respect of the Series 2003A Bonds and the Series 2003B Bonds, the two irrevocable, direct-pay letters of credit, each in the stated amount of $50,854,795, issued by Fleet National Bank and effective as of the date of delivery of the Bonds.

Examples of Initial Letters of Credit in a sentence

• Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement (and, with respect to cash collateral for the Initial Letters of Credit, subject to provisions in the Code related to the investment of monies pledged as security for tax-exempt bonds).

• Subject to the terms and conditions set forth herein, the Issuing Bank agrees to issue the Initial Letters of Credit on the Effective Date.

• The Applicable Rate for any Letter of Credit issued under this Agreement other than the Initial Letters of Credit and for any Letter of Credit the stated expiration date of which is extended after the date of this Agreement in accordance with the terms hereof will be as agreed in writing between the Issuing Bank and the Borrower at the time such Letter of Credit is issued or such stated expiration date is extended.

• In these cases, we must demonstrate that the model operates as a physical system would operate, under the same circumstances, and for the same reasons.

• ARTICLE 3 CONDITIONS Section 3.1. Conditions Precedent to Initial Borrowings and any Initial Letters of Credit.

More Definitions of Initial Letters of Credit

Initial Letters of Credit shall have the meaning ascribed to it in Section 6.2(B)(iii).

Initial Letters of Credit means the Letters of Credit issued and outstanding on the Closing Date and specifically described in Schedule 3.6 to this Agreement.

Initial Letters of Credit means the Series 2010A Initial Letter of Credit and the Series 2010B Initial Letter of Credit. Investment means, as applied to any Person, (a) any direct or indirect purchase or other acquisition by such Person of any Equity Interests in any other Person, (b) any direct or indirect loan, advance or capital contribution by such Person to any other Person, including all Indebtedness and receivables from such other Person which are not current assets or did not arise from sales to such other Person in the ordinary course of business, (c) any Swap Agreement entered into by such Person other than Permitted Swap Agreements and (d) any direct or indirect purchase or other acquisition by such Person of all or substantially all of the property and assets or business of another Person or assets that constitute a business unit, line of business or division of another Person. In addition, any Letter of Credit issued hereunder, or any letter of credit issued under the Revolving Credit Agreement, on behalf of or for the benefit of any Joint Venture Interest or any Unrestricted Subsidiary shall constitute an “Investment” in such Joint Venture Interest or such Unrestricted Subsidiary for the purposes hereof. The amount of any Investment described in clause (c) above shall be the maximum aggregate amount (giving effect to any netting agreements) that such Person would be required to pay if such Swap Agreement were terminated at such time.

Initial Letters of Credit as defined in Section 5.1(p).

Initial Letters of Credit means those letters of credit issued by Citicorp under the Existing Credit Agreement prior to the date hereof that are outstanding as of the date hereof and are listed on Schedule 7 attached hereto.

Initial Letters of Credit means any and all of the following letters of credit to the extent actually issued by the Issuing Lender at the request of the Parent: (i) letter of credit no. S594750 in the original face amount of $804,173.45 (or an amount approximately similar) naming Maple Bank GmbH as beneficiary, (ii) letter of credit no. S594748 in the original face amount of Euros 1,594,201.69 (or an amount approximately similar) naming Maple Bank GmbH as beneficiary, and (iii) the letter of credit no. S594749 in the original face amount of Euros 1,135,433.87 (or an amount approximately similar) naming Dresdner Bank AG as beneficiary. To the extent issued, each Initial Letters of Credit will be issued after the Closing Date and before the Permanent Loan Commencement Date. Interest Expense means for any fiscal period the consolidated interest expense of the Parent and its Subsidiaries for such period (including all imputed interest on Capital Leases).

Initial Letters of Credit means those Letters of Credit set forth on Schedule 1.01.