Examples of Letter of Credit Advances in a sentence
In the event of a Letter of Credit Advance due to a draw on a Letter of Credit, the Borrower may reinstate the applicable Letter of Credit to the original stated amount of the Letter of Credit Amount by written instruction to the Purchaser to reinstatement the Letter of Credit Amount with the date of reinstatement and the payment of all Letter of Credit Advances with respect to such draws, with interest accruing on such Letter of Credit Advances to the date of reinstatement.
Each Line of Credit Advance made and each Letter of Credit issued under this Agreement shall be in a minimum principal amount of $100,000; provided that Letter of Credit Advances shall be in the principal amount of the corresponding draw on the applicable Letter of Credit and shall not require submission of a Request for Line of Credit Advance or Letter of Credit.
The Borrower is irrevocably and unconditionally obligated to reimburse the Purchaser for any Letter of Credit Advances made under the terms of the applicable Letter of Credit.
No ground water extraction is proposed for the existing and the proposed facility.
Within the limits of the Letter of Credit Facility Sublimit, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.15(a), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.15(c) and request the issuance of additional Letters of Credit under this Section 2.15(a).