Letter of Credit Notes definition

Letter of Credit Notes shall have the meanings specified in Section 2.2 hereof.
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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 subsection 3.1(c).
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Examples of Letter of Credit Notes in a sentence

  • 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.

  • Draws made upon any Letter of Credit issued pursuant hereto shall be deemed Advances under the Letter of Credit Notes, as of the date of the payment thereof, and shall be subject to the requirements of the Letter of Credit Notes and this Agreement.

  • Duly executed originals of the Letter of Credit Notes and the Term Loan Notes for each applicable Lender, dated the Closing Date.

  • 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.

  • 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.

  • This Note is one of the Letter of Credit Notes referred to in, and issued under, that certain First Amended and Restated Unsecured Credit Agreement dated as of March 14, 2006, 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.

  • The definitions of "Letter of Credit Note", "Liabilities", "LIBOR Rate", "Loan Documents", "Notes", "Revolving Loan Borrowing Base", "Revolving Loan Maximum Revolving Facility", "Revolving Note", "Tenant Improvement Note", and "Term Note" in the Agreement are hereby deleted in their entirety and replaced with the following: "Letter of Credit Note" for purposes hereof, shall be deemed to be the Revolving Note, which is a consolidation and continuation of all prior Letter of Credit Notes.

  • As used in this Credit Agreement, the Letter of Credit Notes, the Swingline Note, or any certificate, report or other document made or delivered pursuant to this Credit Agreement, accounting terms not defined in subsection 1.1 and accounting terms partly defined in said subsection 1.1 to the extent not defined, shall have the respective meanings given to them under GAAP.

  • The obligation of the Borrower to repay any funds advanced by Premier under the letters of credit issued pursuant to this Section 1.07 shall be evidenced by the Agent's standard form of Application and Agreement for Irrevocable Standby Letter of Credit, a copy of which is attached hereto as Exhibit C (herein called a "Letter of Credit Note" and collectively the "Letter of Credit Notes").

  • If the Borrower shall fail to make any payment due hereunder to the Issuing Bank or under the Debt Service Reserve Letter of Credit Notes when due, it shall, on demand from time to time, pay interest on such defaulted amount to the date of actual payment (after as well as before judgment) at the applicable rate as specified in Section 7.06(c).


More Definitions of Letter of Credit Notes

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, 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 is defined in Section 2.9.5.
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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 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 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, 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 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.

  • 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, 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".

  • 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 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 Liabilities means, for any Bank and at any time, such Bank'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.

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

  • 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.

  • 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.