Letter of Credit Demand definition

Letter of Credit Demand shall have the meaning set forth in Section 5.4(a) of this Agreement.
Sample 1Sample 2Sample 3
Letter of Credit Demand has the meaning set forth in Section 5(c)(3).
Sample 1

Examples of Letter of Credit Demand in a sentence

  • Subject to Sections 5(c)(4) and 5(c)(5), if the Escrow Agent receives a Letter of Credit Dispute Notice in response to any Letter of Credit Demand, then the Escrow Agent will not take the requested action(s) unless and until the Escrow Agent has received written directions in respect of the requested actions from the Requestor and the Challenger, acting jointly, or the Arbitration Panel.

  • In addition, subject to compliance with Section 2.12(b), Borrower agrees to pay, and to hold Agent and Lenders harmless from all liability for, any taxes which may be payable in connection with the execution or delivery of this Agreement, the Advances, or the issuance of any of the Notes, the Master Letter of Credit Demand Note, any of the Letters of Credit or any other Loan Documents.

  • This Agreement, each of the Notes and the Master Letter of Credit Demand Note have been negotiated, executed and delivered in and shall be deemed to have been made in Tennessee.

  • This Agreement is, and the Notes, Master Letter of Credit Demand Note, Guaranties and other Loan Documents when executed and delivered in accordance with this Agreement will be, legal, valid and binding upon the Borrower and the Guarantors, respectively, enforceable in accordance with their respective terms, subject to no defense, counterclaim, set-off, or objection of any kind.

  • On the tenth Business Day after it receives a Buyer Letter of Credit Demand, the Escrow Agent will take the requested actions described in Section 5(c)(2) in accordance with such Buyer Letter of Credit Demand, unless prior to such tenth Business Day the Escrow Agent has received from Seller a Letter of Credit Dispute Notice (in which event, Sections 8(b) and 8(c) will govern the resolution of such dispute and the taking of any action requested in such Buyer Letter of Credit Demand).

  • In the event of any drawing under any Letter of Credit, STB will make demand under the Master Letter of Credit Demand Note and promptly notify the Borrower.

  • On the tenth Business Day after it receives a Seller Letter of Credit Demand, the Escrow Agent will take the requested actions described in Sections 5(c)(1) in accordance with such Seller Letter of Credit Demand, unless prior to such tenth Business Day the Escrow Agent has received from the Buyer a Letter of Credit Dispute Notice (in which event, Sections 8(a) and 8(b) will govern the resolution of such dispute and the taking of any action requested in such Seller Letter of Credit Demand).

  • The Notes and the Master Letter of Credit Demand Note are not required to be registered under the Securities Act of 1933, as amended, or under the securities laws of any state.

  • C.A. Section 00-00-000, no action or course of dealing on the part of Agent or Lenders, their officers, employees, consultants, or agents, nor any failure or delay by Agent, STB or Lenders with respect to exercising any right, power, or privilege of Agent, STB or Lenders under the Notes, the Master Letter of Credit Demand Note, the Letters of Credit, this Agreement, or any other Loan Document shall operate as a waiver thereof, except as otherwise provided in this Agreement.

  • Each Buyer Letter of Credit Demand will be accompanied by a written certification that a copy of such Buyer Letter of Credit Demand has been given to Seller.

Related to Letter of Credit Demand

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

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

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

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

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

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

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

  • 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.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

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

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • 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.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • 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.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.