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
The Letters of Credit shall include the Initial Letters of Credit.
The Initial Letters of Credit shall be used only to support payment of the Bonds.
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).
The Initial Letters of Credit (to the extent issued) shall be part of the Parent Letters of Credit (and the Master Letter of Credit Agreement executed by the Parent shall cover, among other things, the Initial Letters of Credit (to the extent issued) as well as any other Parent Letters of Credit).
The Letter of Credit Requests with respect to the Initial Letters of Credit are hereby approved.
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 shall have the meaning set forth in Section 2.2(a).
Initial Letters of Credit means three (3) Letters of Credit issued ------------------------- by the Houston agency of The Toronto-Dominion Bank in favor of Pacific and Southern Company, Inc., a Subsidiary of Gannett Co., Inc., in the aggregate face amount of $34,000,000, which were issued on or about April 9, 1997, in connection with the Gannett Transaction.
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 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 the Series 2008 Initial Letter of Credit and the Series 2011 Initial Letter of Credit.