Insurance Letters of Credit definition

Insurance Letters of Credit means standby letters of credit issued for the account of any Borrower in favor of an insurance company of such Borrower, securing the obligations of such Borrower to reimburse such insurance company for losses under the insurance contract issued by such insurance company for the insured risks and obligations of Borrower under Section 5.10 of this Agreement.
Sample 1
Insurance Letters of Credit means, collectively, the Existing Insurance Letters of Credit, as may be amended from time to time, all of which such Existing Letters of Credit, as amended, shall remain subject to the terms and conditions of this Agreement.
Sample 1
Insurance Letters of Credit means, collectively, the Existing Insurance Letters of Credit and the New Argonaut SLC, as may be amended from time to time, all of which, as amended, shall remain subject to the terms and conditions of this Agreement.”
Sample 1

Examples of Insurance Letters of Credit in a sentence

  • Each of the Insurance Letters 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.

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

  • Any press release, public notice or notice to local officials regarding this Agreement or the transactions contemplated herein to be made prior to the Effective Date shall be approved in writing by all Parties prior to its release; the approval of any party shall not be unreasonably withheld.

  • Bank shall have received written confirmation, in form and substance satisfactory to Bank in its sole discretion, that the transactions contemplated in this Agreement (including AICE’s pledge of additional collateral securing the Insurance Letters of Credit) (i) satisfy the obligations of Borrower to OSIP, and (ii) have been approved by the Department of Insurance of the State of Arizona.

  • CITIBANK EUROPE PLC Insurance Letters of Credit – Master Agreement (Form 3/CEP) dated 17 September, 2010 and made between Citibank Europe plc and Renaissance Reinsurance Ltd.

  • Xxxxxxxx Title: SVP AND CITIGROUP EUROPE PLC /s/ Peadar MacCanna, Director (Signature(s)) Dated: May 14, 2010 SCHEDULE ONE Form of Novation Notice for Clause 10 To: [ ] Dear Sirs Date: Insurance Letters of Credit – Master Agreement (Form 3/CIFS) dated [ ] and made between Citibank Europe plc and [ ] (the “Agreement”) We refer to Clause 10 of the Agreement.

  • NO FHA Insurance Private Mortgage Insurance Letter(s) of Credit Other (specify) USDA Rural Dev.

  • For purposes of this Agreement, “Insurance Letters of Credit” means, collectively, the Existing Insurance Letters of Credit, amended as contemplated in this Section 1.4(a)(ii).

  • Small Operators: Many of the financial assurance instruments recommended here, including Third-Party Insurance, Letters of Credit and Surety Bonds, will required higher premiums to be paid by companies that the Government considers high risk.

  • Each drawing paid under the Insurance Letters of Credit shall be repaid by Borrower in accordance with the provisions of the Letter of Credit Agreement.”2.


More Definitions of Insurance Letters of Credit

Insurance Letters of Credit means, collectively, the Existing Insurance Letters of Credit, amended as contemplated in this Section 1.4(a)(ii).
Sample 1
Insurance Letters of Credit. Intercreditor Agreement"; "Investment"; "Liquidated Damages"; "Mortgages"; "Mortgaged Property"; "Net Award"; "Net Proceeds"; "Net Casualty Proceeds"; "Non-Collateral Proceeds"; "Obligations"; "Offer Amount"; "Permitted Holders"; "Permitted Indebtedness"; "Permitted Investments"; "Permitted Liens"; "Permitted Refinancing Debt"; "Permitted Secured Debt"; "Prior Liens"; "Purchase Date"; "Purchase Money Obligations"; "Purchase Price"; "Real Property"; "Related Business Investment"; "Released Interests"; "Registration Rights Agreement"; "Released Trust Moneys"; "Restricted Investment"; "Restricted Payments"; "Sale/leaseback"; "Security Agreements"; "Security Documents"; "Senior Secured Notes; "Survey"; "Taking"; "Trust Moneys"; "Valuation Date"; "Voting Stock"; and "Weighted Average Life to Maturity".
Sample 1

Related to Insurance Letters of Credit

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

  • 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.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • 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.

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

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

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

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

  • 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.

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

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • 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.

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • 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.

  • 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).

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

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

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

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

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

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).