Examples of LC Proceeds Account in a sentence
Payment received by the Trustee in respect of the Demand will be deposited into the LC Proceeds Account.
The LC Proceeds Account shall be under the sole control of Landlord.
In order to describe and analyse purchasing strategies, enablers and barriers to innovation in construction projects, a case study approach was chosen (Yin, 2008).
VMs are seen as black-boxes thus no application-specific knowledge is required to guide the VM manage- ment mechanisms decisions.
Tenant further covenants and warrants that it will neither assign nor encumber the Letter of Credit or any part thereof or any interest in the LC Proceeds Account and that neither Landlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.
Payments received by the Trustee in respect of a Demand will be deposited into the LC Proceeds Account.
None of the Issuer, the Guarantor, the Group, the LC Bank, the Placing Agents, the Trustee, the Pre-funding Account Bank, the LC Proceeds Account Bank or the Agents, or any person who controls any of them, or any of their respective directors, officers, employees, agents, representatives, advisers or affiliates are making any representations regarding the legality of an investment in the Bonds under any law or regulation.
Tenant hereby grants Landlord a security interest in the LC Proceeds Account and agrees that, in addition to all other rights and remedies available to Landlord under applicable Law, Landlord shall have all rights of a secured party under the Commonwealth of Massachusetts Uniform Commercial Code with respect to the LC Proceeds Account.
Tenant shall, at any time and from time to time, execute, acknowledge and deliver such documents and take such actions as Landlord or the bank with which the LC Proceeds Account is maintained may reasonably request concerning the creation or perfection of the security interest granted to Landlord in (including Landlord's control of) LC Proceeds Account or to effect the provisions of this Section 27(c).
Tenant further covenants and warrants that it will neither assign nor encumber the Tenant’s Letter of Credit or any part thereof or any interest in the Tenant’s LC Proceeds Account and that neither Landlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance.