Letter of Credit Note definition

Letter of Credit Note means the promissory note evidencing the Letter of Credit Obligations in the original principal amount of Thirty Million Dollars ($30,000,000) executed by Borrower in favor of Issuing Lender, as it may be amended, supplemented, replaced or modified from time to time. A copy of the Letter of Credit Note is attached hereto as Exhibit G.

Letter of Credit Note means the Promissory Note executed by the Authority in favor of the L/C Provider pursuant to the terms of the Letter of Credit Drawdown Agreement.

Letter of Credit Note means the promissory note issued primarily for and by Holdings in favor of FNBCT in the principal amount of $30 million, with an interest rate of 6% per annum and a maturity date of March 31, 2017, and secured by a first lien and security interest in favor of FNBCT on all assets of Holdings and the Debtor.

Examples of Letter of Credit Note in a sentence

• Landscaping and Engineering).There are two alternatives for calculating the amount of the required Letter of Credit: *Note: For properties located in the Ancaster Existing Residential “ER” Zone, please refer to Part A, Section 11.

• The Letter of Credit Note, as described in the preceding sentence and as the same may be renewed from time to time by Premier to coincide with the expiration date of the $2,500,000.00 letter of credit, shall constitute a Letter of Credit Note as defined in Section 1.07.

• However, each Letter of Credit Note will evidence Borrower’s obligation to repay the lesser of the stated principal amount thereof or the unreimbursed amount (the “Unreimbursed Amount”) of any drawing actually paid by Lender under a Letter of Credit, in accordance with Section 4.3. All references to “Advances” in Sections 2.4, 3.1 and 3.2 shall, with respect to a Letter of Credit Advance, refer solely to the outstanding Unreimbursed Amount(s) evidenced by the corresponding Letter of Credit Note.

• Each Letter of Credit Note shall constitute a partial renewal and, if applicable, an extension of -ix- the Revolving Notes.

• The funds were disbursed as follows: 1) approximately $11,022,232.61 plus per diem interest payment to BB&T for its claims; 2) payment of $513,000.00 for partial satisfaction of two additional BB&T claims; 3)$6,052,808.12 to remain in the escrow account pending settlement of a dispute regarding the AME Development Group, LLC Note 1, AME Development Group, LLC Letter of Credit Note 3, and Trebor Fees; and 4) the remaining balance to be paid to the Debtors.

More Definitions of Letter of Credit Note

Letter of Credit Note means the promissory note date of even date herewith in the principal sum of the Letter of Credit Loan (together with all renewals and extension thereof) executed and delivered by Borrower and payable to the order of Lender, evidencing the Letter of Credit Liability.

Letter of Credit Note means the promissory note from the Borrower to the Bank in the form attached hereto as Exhibit A evidencing the Borrower's obligations to make payment to the Bank under this Agreement for amounts drawn under the Letter of Credit.

Letter of Credit Note or “Letter of Credit Notes” shall have the meanings specified in Section 2.2 hereof.

Letter of Credit Note will have the meaning set forth in Section 2.6 of this Agreement.

Letter of Credit Note means the promissory note evidencing the Letter of Credit Obligations in the original principal amount of Thirty Million Dollars ($30,000,000) executed by Borrower in favor of Issuing Lender pursuant to the Existing Credit Agreement, as it may be amended, supplemented, replaced or modified from time to time. A copy of the Letter of Credit Note is attached hereto as Exhibit G.

Letter of Credit Note as defined in subsection 2.3(d).

Letter of Credit Note and "Letter of Credit Notes" shall have the meanings specified in subsection 3.1(c).