Letter of Credit Notes definition

Letter of Credit Notes means this Note and the other Letter of Credit Note executed by the Makers in favor of the Other Lender, each dated of even date herewith, in the aggregate amount of the Letter of Credit Commitment, as same may be amended, supplemented, renewed, restated, replaced or otherwise modified from time to time.
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Letter of Credit Notes shall have the meanings specified in Section 2.2 hereof.
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Letter of Credit Notes shall have the meanings specified in subsection 3.1(c).
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Examples of Letter of Credit Notes in a sentence

  • However, at this point of time, we may not have sufficient time to polish the details of the proposed example.

  • The failure of the Makers to make such payment at such time shall constitute an Event of Default hereunder, under the other Letter of Credit Note, and under the Credit Agreement, and thereafter interest shall accrue on the entire principal balance outstanding under the Letter of Credit Notes, at the Default Rate.

  • The Revolving Notes, the Term Notes, and the Letter of Credit Notes, together with any and all renewals, extensions, and modifications to any one or more of said notes from time to time in effect (collectively, the "Secured Notes") shall be secured by the collateral, guarantees, and other security documents, agreements, and other documents and papers described below, duly completed and executed, in form and substance satisfactory to the Banks, the Agent and their counsel.

  • The execution, delivery and performance of this Agreement, the Revolving Notes, the Letter of Credit Notes, the Term Notes, and all collateral, security documents, and agreements executed on behalf of the Borrower have been duly authorized by all necessary corporate action of the Borrower and its Boards of Directors, and all such documents have been duly executed and are valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with their respective terms.

  • Notwithstanding the foregoing, any amounts derived by reason of a Liquidation or a Liquidation Event shall only be paid to Seller after prior payment of the following obligations of the Company in the order specified: (A) the PNC Credit Agreement, (B) the Guaranty Notes and the Letter of Credit Notes, (C) the PSP A Note and the Woodmark A Note; (D) the Seller Note, the PSP B Note and the Woodmark B Note, and (E) the Visador Management Agreement and the Countrywide Management Agreement.

  • Any Contingent Consideration due Seller shall only be paid after prior payment of amounts due on the following obligations of the Company in the order specified: (i) the PNC Credit Agreement, (ii) the Guaranty Notes and the Letter of Credit Notes, (iii) the Visador Management Agreement and the Countrywide Management Agreement, (iv) the PSP A Note and the Woodmark A Note, and (v) the Seller Note, the PSP B Note and the Woodmark B Note.

  • If such release is accomplished through payment by the Corporation of principal and interest due on the Letter of Credit Notes or the Wellsford REIT Note, the Bonds so released shall thereupon constitute Corporation Bonds.

  • The Trustee shall have no obligation hereunder to exercise rights or enforce remedies against the Account Parties under the Letter of Credit Notes for the benefit of the Bank or against the Corporation under the Wellsford REIT Note for the benefit of Wellsford REIT.

  • This Note is one of the Letter of Credit Notes referred to in, and issued under, that certain Second Amended and Restated Unsecured Credit Agreement dated as of January 26, 2010, among the Company, UMB Bank, N.A., individually and as Administrative Agent, and the Banks named therein, as amended hereafter from time to time (the “Credit Agreement”) and this Note and the holder hereof are entitled to all of the benefits provided for thereby or referred to therein.

  • Not later than upon discharge of all obligations of the Corporation, including the Bonds, the Letter of Credit Notes, the Secured Note and the Wellsford REIT Note, the District shall be entitled to acquire fee title to the Public Improvements without cost and unencumbered except as provided in the Operating Agreement.


More Definitions of Letter of Credit Notes

Letter of Credit Notes is defined in Section 2.9.5.
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Letter of Credit Notes means the promissory notes, dated December 20, 1995, issued and evidencing reimbursement obligations of the Account Parties under the Letter of Credit Reimbursement Agreement.
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Letter of Credit Notes means that certain Promissory Note A and Promissory Note B which may potentially be issued in connection with the NY Commercial Bank Letters of Credit (as such term is defined in the PNC Credit Agreement).
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Letter of Credit Notes means the promissory notes issued by Borrower in favor of each Lender evidencing the Obligations of Borrower to each Lender with respect to the Tranche B Letter of Credit Accommodations made by or on behalf of Lenders pursuant to the Letter of Credit Facility, with each Note being in a principal amount of up to the respective Lender's maximum Pro Rata Share of the Tranche B Letter of Credit Accommodations.
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Related to Letter of Credit Notes

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

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

  • 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.

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

  • 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 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 Limit means $5,000,000.

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

  • 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.

  • 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 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 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 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 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 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.

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

  • Letter of Credit Liabilities means, for any Lender and at any time, such Lender’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 Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

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

  • 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 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.