Letter of Credit Drawing definition

Letter of Credit Drawing. As defined in Section 3.27(b) of the Indenture.
Sample 1Sample 2
Letter of Credit Drawing means a Bond Payment Drawing or Enhanced Custody Receipt Mandatory Tender Drawing.
Sample 1Sample 2
Letter of Credit Drawing means a payment made by an Issuing ------------------------ Bank against a drawing under a Letter of Credit.
Sample 1

Examples of Letter of Credit Drawing in a sentence

  • The terms of any letter of credit required by Company shall conform to the attached Exhibit , Letter of Credit Terms/Form of Acceptable Letter of Credit, Drawing Certificate and Transfer Certificate, as well as the requirements of this Contract and be issued by a bank acceptable to Company.

  • The L/C Bank will pay the Supplier or Special Ancillary Supplier under the Letter of Credit upon presentation of the documents required by the Letter of Credit ("Drawing Documents"), and will simultaneously pay to Eximbank the applicable Exposure Fee.

  • In the event the Borrower fails to reimburse the Agent for the full amount of any drawing under any Letter of Credit by such time, the Agent shall promptly notify each Lender thereof, and the Borrower shall be deemed to have requested that Revolving Loans without a Libor Rate Election be made by the Lenders to be disbursed on the related Letter of Credit Drawing Date under such Letter of Credit.

  • In the event that there are one or more drawings on the Letter of Credit, in part or in whole, on or before December 31, 1997 (the "Letter of Credit Drawing"), then on December 31, 1997 the Bank shall return promptly the remaining portion of the Cash Collateral to the Investor (the portion drawn down or not returned being referred to as the "Unreturned Cash Collateral").

  • Upon any such sale by an Issuing Bank to any Lender of a participation in an unreimbursed Letter of Credit Drawing, such Issuing Bank represents and warrants to such Lender that such Issuing Bank is the legal and beneficial owner of such interest being assigned by it, but makes no other representation or warranty and assumes no responsibility with respect to such Letter of Credit Drawing, the Loan Documents or any Loan Party.

  • If any Lender so notified fails to make available to the Agent for the account of the Agent such amount by no later than 3:30 P.M. eastern United States time on the related Letter of Credit Drawing Date, then interest shall accrue on such Lender's obligation to make such amount available from such Letter of Credit Drawing Date to the date on which such Lender makes such amount available, at a rate per annum equal to Marine's Prime Rate in effect from time to time during such period.

  • Letter of Credit Drawing Date" means the date on which a Letter of Credit Reimbursement Obligation arises pursuant to Section 3c of this Agreement.

  • The Borrower shall pay its Letter of Credit Reimbursement Obligation to the Agent prior to 11:00 A.M. (Local Time) on the related Letter of Credit Drawing Date in an amount equal to the amount so paid by the Agent.

  • The terms of any letter of credit required by Company shall conform to the attached Exhibit __, Letter of Credit Terms/Form of Acceptable Letter of Credit, Drawing Certificate and Transfer Certificate, as well as the requirements of this Contract and be issued by a bank acceptable to Company.

  • The Issuer shall thereupon promptly notify the Borrower, the Administrative Agent and each Revolving Credit Lender or Tranche D Term Lender, as applicable, of the amount of such Letter of Credit Drawing paid by it and the amount of such Lender's participation therein.


More Definitions of Letter of Credit Drawing

Letter of Credit Drawing means any drawing under a Letter of Credit.
Sample 1
Letter of Credit Drawing has the meaning set forth in Section 303(b) ------------------------ of the Indenture.
Sample 1
Letter of Credit Drawing means a payment made by an Issuing Bank ------------------------ against a drawing under a Letter of Credit.
Sample 1

Related to Letter of Credit Drawing

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

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

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

  • 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 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 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.

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

  • 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 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.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

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

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

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

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian 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.

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

  • 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.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.