LC Term definition

LC Term means, in respect of a Letter of Credit, the period during which the Issuing Bank may be under a liability under such Letter of Credit.
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LC Term means the period commencing upon the Title Commitment Outside Delivery Date and continuing until no Major Title Breaches or Minor Title Breaches exist, as evidenced by the removal of any exception of such Title Support Breach from Title Commitment or Title Insurance Policy (either directly or through an endorsement thereto) or the Survey.
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LC Term. With respect to any Letter of Credit, the period commencing on the LC Issuance Date thereof and ending on the Expiry Date thereof.
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Examples of LC Term in a sentence

  • Each L/C provided pursuant to this section shall have an expiration date which is at least one (1) year from such L/C’s date of issue except where the then-applicable expiration date of the L/C is less than one (1) year from the end of the L/C Term, in which case the renewal or replacement L/C shall be for such lesser period.

  • If the expiration date of the L/C (or any renewal or replacement L/C provided pursuant to this section) occurs prior to the end of the L/C Term, then Lessee shall deliver to Lessor a renewal of the L/C or a replacement L/C meeting all of the terms and conditions of this section, not later than sixty (60) days prior to the then-applicable expiration date.

  • At all times during the LC Term, Seller shall maintain Acceptable Letter(s) of Credit in favor of Buyer and in an aggregate amount not less than the Required LC Amount.

  • Tenant hereby covenants and agrees to take all necessary actions to keep the Letter of Credit in place and in full force and effect through the expiration of the L/C Term, pursuant to and in accordance with Section 2 (Renewal of L/C) of Exhibit F attached to the Master Lease.

  • Each Letter of Credit provided pursuant to this section shall have an expiration date which is at least one (1) year from such Letter of Credit’s date of issue except where the then-applicable expiration date of the Letter of Credit is less than one (1) year from the end of the L/C Term, in which case the renewal or replacement Letter of Credit shall be for such lesser period.

  • Seller may, in its sole discretion, throughout the LC Term, replace Letters of Credit with other Acceptable Letters Credit.

  • If the expiration date of the Letter of Credit (or any renewal or replacement Letter of Credit provided pursuant to this section) occurs prior to the end of the L/C Term, then Tenant shall deliver to Landlord a renewal of the Letter of Credit or a replacement Letter of Credit meeting all of the terms and conditions of this section, not later than thirty (30) days prior to the then-applicable expiration date.

  • At the end of the LC Term, any outstanding Letters of Credit shall be canceled.

  • The Administrative Agent shall maintain records in which it shall record (i) the Borrower and amount of each Synthetic LC Term Loan made hereunder, the Type thereof and each Interest Period therefor, (ii) the amount of any principal or interest due and payable or to become due and payable from such Borrower to each Synthetic LC Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for account of such Lenders and each such Lender’s share thereof.

  • Each L/C provided pursuant to this Addendum section shall have an expiration date which is at least one (1) year from such L/C’s date of issue except where the then-applicable expiration date of the L/C is less than one (1) year from the end of the L/C Term, in which case the renewal or replacement L/C shall be for such lesser period.


More Definitions of LC Term

LC Term has the meaning set forth in Section 10.10(b).
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Related to LC Term

  • Extended Term shall have the meaning set forth in Section 2.

  • Extension Term means the time period defined in §2.C.

  • Basic Term shall have the meaning specified in Section 2.2 of the Lease.

  • Credit Period has the meaning given to it in Section 42(f)(1) of the Code.

  • Renewal Term has the meaning set forth in Section 2.

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Original Term shall have the meaning specified in Section 10 hereof.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Facility Period means the period beginning on the date of this Agreement and ending on the date when the whole of the Indebtedness has been paid in full and the Security Parties have ceased to be under any further actual or contingent liability to the Finance Parties under or in connection with the Finance Documents.

  • Revolving Facility Termination Date means the earlier of (i) January 29, 2013, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Letter of Credit Expiration Date means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Additional Term means that term commencing on the last day of the Basic Term and terminating 5 years thereafter.

  • Initial Term has the meaning set forth in Section 7.1.

  • Revolving Commitment Termination Date means the earliest of (i) November 3, 2017, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.9 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise); provided, that, with respect to any Extended Revolving Commitment (and the Extended Revolving Loans made pursuant thereto), the termination date set forth in the Extension Offer with respect thereto.

  • Revolving Commitment Period the period from and including the Closing Date to the Revolving Termination Date.

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Revolving Loan Commitment Termination Date means the earliest of

  • Commitment Period means the period commencing on the Effective Date, and ending on the earlier of (i) the date on which Investor shall have purchased Put Shares pursuant to this Agreement for an aggregate Purchase Price of the Maximum Commitment Amount, or (ii) the date occurring twenty four (24) months from the date of commencement of the Commitment Period.

  • Agreement Term has the meaning set forth in Section 11.1.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Revolving Credit Commitment Termination Date means the earliest to occur of (i) other than with respect to Extended Revolving Credit Commitments, August 28, 2022, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, (iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2, and (iv) solely with respect to any Extended Revolving Credit Commitments, the applicable Extended Maturity Date.

  • Commitment Termination Date means the earlier of (a) the Maturity Date and (b) the earlier termination in whole of the Commitments pursuant to Section 2.04 or Article VII.

  • Agreement Period shall have the meaning ascribed thereto in Clause 3.2 of this Agreement.