Letter of Credit Escrow Agreement definition

Letter of Credit Escrow Agreement has the meaning set forth in Section 3.1.
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Letter of Credit Escrow Agreement shall have the meaning set forth in Section 15.2 hereof.
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Letter of Credit Escrow Agreement means this Letter of Credit Escrow Agreement.
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Examples of Letter of Credit Escrow Agreement in a sentence

  • The Letter of Credit shall be held and drawn on only as provided in Section 8.2(b) and in the Letter of Credit Escrow Agreement.

  • The aim is also to encourage a culture of constant re-evaluation of risk profile and prompt risk mitigation action , where required.In order to do this, there is proper dissemination of information and policies, development of frameworks, and staff training to ensure that all staff are adequately aware of their roles in the risk management process of the Group.

  • Pursuant to the Letter of Credit Escrow Agreement, the Acquiror will deliver or cause to be delivered to the Escrow Agent (as defined in the Letter of Credit Escrow Agreement) an irrevocable letter of credit in the amount of $75,000,000 to be issued by an issuer reasonably acceptable to the Company (the "Letter of Credit").

  • The Board approved the Tap and Facility Fee Pre-Purchase Agreement, the Post-Closing Construction Agreement, Letter of Credit Escrow Agreement, and the Damage Deposit Escrow Agreement subject to final legal review upon motion, second and by unanimous vote.

  • Provided, however, that the City will not unreasonably withhold written consent to transfer this Replacement Letter of Credit Escrow Agreement and the benefits associated therewith to a (i) a successor or affiliate of Developer pursuant to any corporate reorganization thereof or (ii) future purchaser of the GF Plant if the future purchaser agrees to abide by all terms set forth in this Replacement Letter of Credit Escrow Agreement, the Development Agreement and the Other Development Agreements.

  • Nothing in this is Replacement Letter of Credit Escrow Agreement shall supersede, modify, alter, change, limit, enlarge, reduce, waive or relinquish any of the City’s remedies or the Developer’s liability under the Development Agreement for such excess amount.

  • Simultaneously with the execution and delivery of the consents of the Consenting Stockholders in accordance with Section 6.3, the parties shall enter into the Letter of Credit Escrow Agreement substantially in the form attached hereto as Exhibit 6.13 (the "Letter of Credit Escrow Agreement").

  • Any attempt by the Developer at assignment, transfer, pledge, or hypothecation or other disposition of this Replacement Letter of Credit Escrow Agreement or of such rights, interests, and benefits contrary to the foregoing provisions or the levy of any attachment or similar process, will be null and void and without effect.

  • Simultaneously with the execution and delivery of the consents of the Consenting Stockholders in accordance with Section 0, the parties shall enter into the Letter 37 42 of Credit Escrow Agreement substantially in the form attached hereto as Exhibit 6.13 (the "Letter of Credit Escrow Agreement").

  • The Cash Escrow, if applicable, shall be held in escrow and disbursed (if applicable) in accordance with, and subject to, the terms and conditions of an escrow agreement in substantially the same form as the Letter of Credit Escrow Agreement, which such modification as are necessary for a cash deposit (as opposed to a letter of credit deposit) and are acceptable to Seller and Buyer in their reasonable discretion (the “Cash Escrow Agreement”).

Related to Letter of Credit Escrow Agreement

  • 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.

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

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

  • 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 Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

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

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit SUBI Collections into the 2019-B SUBI Collection Account by the related Deposit Date.

  • 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).

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

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • 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.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • 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.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • 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.

  • 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 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 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.

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

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

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