Insurance Letter of Credit definition

Insurance Letter of Credit has the meaning assigned in Section 5.4(b).

Insurance Letter of Credit means each of the following Letters of Credit: (i) Letter of Credit No. ASL-3009133-120MAT issued by the Issuing Bank for the account of MasTec and for the benefit of Fidelity and Deposit Company of Maryland, (ii) Letter of Credit No. 50061581 issued by the Issuing Bank for the account of MasTec and for the benefit of Crawford and Company, (iii) Letter of Credit No. 50061585 issued by the Issuing Bank for the account of MasTec and for the benefit of Reliance Insurance Company,

Insurance Letter of Credit means a Standby Letter of Credit which is used to satisfy bonding requirements which are applicable to the Company and the Consolidated Subsidiaries in the ordinary course of their business, or which is used to support performance obligations relating to insurance which are incurred by the Company and the Consolidated Subsidiaries in the ordinary course of their business.

Examples of Insurance Letter of Credit in a sentence

• All notices and other communications provided for hereunder shall be either (i) in writing (including telegraphic, telecopier or telex communication) and mailed, telegraphed, telecopied, telexed or otherwise delivered or (ii) by electronic mail (if electronic mail addresses are designated as provided below) confirmed immediately in writing, in the case of the Pledgee, addressed to the Insurance Letter of Credit Department, Citibank Europe Plc, 0 Xxxxx Xxxx Xxxx, XXXX, Xxxxxx 0, Xxxxxxx.

• If Borrower does not at any time want any Insurance Letter of Credit to be renewed, Borrower will so notify Bank at least fifteen (15) calendar days before Bank is to notify the beneficiary thereof of such nonrenewal pursuant to the terms of such Insurance Letter of Credit.

• Notwithstanding the provisions of any Insurance Letter of Credit regarding automatic extension of its expiration date, Bank may, at its sole option, give notice to the beneficiary thereof in accordance with the terms of such Insurance Letter of Credit that Bank has elected not to renew such Insurance Letter of Credit beyond its current expiration date (or any other subsequent expiration date that may be agreed to by Bank at Bank’s sole discretion).

• The Valier School District provides the teacher for the Kingsbury center (grades Pre-Kindergarten through 8) and the Colony provides the land and building.

• For CEP, primarily the Insurance Letter of Credit (ILOC) product may incur general wrong way risk.

• Borrower has requested that Bank consider reducing (but not increasing) the dollar amount of the Insurance Letter of Credit from time to time without express written amendment to this Agreement.

• The Insurance Letter of Credit shall remain subject to the additional terms of the Letter of Credit Agreement, applications and any related documents required by Bank in connection with the issuance (and any renewal) thereof.

• Borrowers shall provide Lender with notice of any increases in the annual payments for Taxes or Insurance Premiums not less than thirty (30) days prior to the effective date of any such increase and the Tax and Insurance Letter of Credit shall be increased by such increased amount at least ten (10) Business Days prior to the effective date of such increase.

• For CEP, primarily the Insurance Letter of Credit (ILOC) product may incur general wrong way risk in their business.

• Each drawing paid under the Insurance Letter of Credit shall be repaid by Borrower in accordance with the provisions of the Letter of Credit Agreement.

More Definitions of Insurance Letter of Credit

Insurance Letter of Credit means an evergreen Letter of Credit naming Lender as the sole beneficiary, in an amount equal to the sum of the (x) Property Insurance Amount, and (y)

Insurance Letter of Credit means each of the following Letters of Credit: (i) Letter of Credit No. ASL-3009133-120MAT issued by the Issuing Bank for the account of MasTec and for the benefit of Fidelity and Deposit Company of Maryland, (ii) Letter of Credit No. 50061581 issued by the Issuing Bank for the account of MasTec and for the benefit of Xxxxxxxx and Company, (iii) Letter of Credit No. 50061585 issued by the Issuing Bank for the account of MasTec and for the benefit of Reliance Insurance Company, (iv) Letter of Credit No. 50061582 issued by the Issuing Bank for the account of MasTec and for the benefit of Insurance Company of North America, (v) Letter of Credit No. 50061586 issued by the Issuing Bank for the account of MasTec and for the benefit of Director of Industrial Relations, and (vi) the Liberty Letter of Credit, in each case as amended and in effect from time to time.

Insurance Letter of Credit means that certain letter of credit number JS64132722, dated as of August 3, 2004, issued by Fleet National Bank (now known as Bank of America, N.A.) as an "Issuing Lender" (as defined in the Existing Credit Agreement) under the Existing Credit Agreement, for the benefit of Insurance Commissioner, State of Hawaii - Division of Insurance, as beneficiary, in an original stated amount of up to $4,500,000.

Insurance Letter of Credit means the Insurance Letter of Credit referred to in Section 5.15 of the Stock Purchase Agreement (together with any replacements thereof issued in accordance with the requirements of Section 5.16 of the Stock Purchase Agreement).

Insurance Letter of Credit shall have the meaning assigned such term in Section 2A.01 hereof.