Letter of Credit Debt Service Account definition

Letter of Credit Debt Service Account means the account so designated and established pursuant to Section 5.04 in the Bond Fund.
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Letter of Credit Debt Service Account means the account so designated and established pursuant to Section 5.2 of this Indenture.
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Letter of Credit Debt Service Account means the account so designated and established pursuant to Section 4.03 in the Sinking Fund.
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Examples of Letter of Credit Debt Service Account in a sentence

  • All moneys (and only those moneys) received by the Trustee from drawings under the Letter of Credit to pay principal of, premium, if any, on and interest on the Bonds shall be deposited in the Letter of Credit Debt Service Account and applied to such purpose.

  • There is hereby created by the Issuer and ordered established with the Trustee a trust fund to be designated the "Guadxxxxx-Xxxxxx Xxxer Authority Pollution Control Revenue Refunding Bonds (Central Power and Light Company Project) Series 1995 Bond Fund" (the "Bond Fund"), within which there is hereby established a Company Debt Service Account and a Letter of Credit Debt Service Account.

  • Except as otherwise provided in Section 10.02, moneys deposited in the Letter of Credit Debt Service Account, the Letter of Credit Purchase Account or the Remarketing Proceeds Purchase Account shall not be invested but shall be held in their respective accounts pending application pursuant to Section 5.04 or Article IV, as applicable.

  • The moneys on deposit in the Bond Purchase Fund or in the Letter of Credit Debt Service Account shall not be invested.

  • There is hereby established with the Trustee a trust fund designated as the "Bond Fund", within which there shall be established a General Account and a Letter of Credit Debt Service Account.

  • There is hereby established ---------------------------------- with the Trustee a trust fund designated as the "Bond Fund", within which there shall be established a General Account and a Letter of Credit Debt Service Account.

  • Moneys in the Bond Fund (except moneys in the Letter of Credit Debt Service Account and except any moneys held to pay principal of, or premium, if any, or interest on, any Bonds which are deemed paid under Section 10.02) and the Project Fund shall be invested and reinvested by the Trustee in Eligible Investments at the written direction of an Authorized Representative of the Borrower, subject to the requirements of Section 5.12(n) of the Financing Agreement.

  • Bonds in the Weekly Mode or the Term Mode shall be redeemable only if moneys are on deposit in the Letter of Credit Debt Service Account for reimbursement to the Bank of the redemption price.

  • Except as otherwise provided in Section 10.02, moneys deposited in the Letter of Credit Debt Service Account, the Letter of Credit Purchase Account or the Remarketing Proceeds Purchase Account shall not be invested but shall be held in their respective accounts pending application pursuant to the terms of Section 5.04 or Article IV, as applicable.

  • There is hereby established with the Trustee and the Paying Agent, a Bond Fund, within which there shall be established (i) the General Account with the Trustee, (ii) the General Debt Service Account with the Paying Agent, and (iii) the Letter of Credit Debt Service Account with the Paying Agent.


More Definitions of Letter of Credit Debt Service Account

Letter of Credit Debt Service Account means the special account of that name within the Debt Service Fund established pursuant to Section 6.01 hereof.
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Letter of Credit Debt Service Account means the account established by
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Related to Letter of Credit Debt Service Account

  • 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.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • 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.

  • 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.

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

  • 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 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.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Limit means $5,000,000.

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

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Letter of Credit Liability means, without duplication, at any time and in respect of any Letter of Credit, the sum of (a) the undrawn face amount of such Letter of Credit, plus (b) the aggregate unpaid principal amount of all Reimbursement Obligations of Borrower at such time due and payable in respect of all drawings made under such Letter of Credit.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Collateral has the meaning provided in Section 6.4.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

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Most Referenced Definitions