Letter of Credit or Letters of Credit definition

Letter of Credit or Letters of Credit. Standby letter or letters of credit, and (b) commercial letter or letters of credit, in each case issued or to be issued by the Fronting Lender for the account of the Borrower pursuant to Section 2.2 herein.
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Letter of Credit or Letters of Credit has the meaning set forth in Section 2.1.1.1 herein."
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Letter of Credit or Letters of Credit has the meaning set forth in Section 2.17(a).
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Examples of Letter of Credit or Letters of Credit in a sentence

  • Each LC Issuer shall, on the date of each LC Issuance by it, give the Administrative Agent, each applicable Lender and the Borrower written notice of such LC Issuance, accompanied by a copy to the Administrative Agent of the Letter of Credit or Letters of Credit issued by it.

  • The proceeds of the trustee account referred to in the immediately preceding sentence shall be held as collateral for the Letter of Credit (or Letters of Credit) and in the event of a draw under the Letter of Credit (or Letters of Credit), used to pay any such draw.

  • Such funds, with any interest earned thereon, will be returned to Borrower (and may be returned from time to time with respect to any applicable Letter of Credit) on the earlier of (a) the date that the applicable Letter of Credit or Letters of Credit expire in accordance with their terms; and (b) the date that the applicable Letter of Credit or Letters of Credit are cancelled.

  • Each LC Issuer shall, on the date of each LC Issuance by it, give the Administrative Agent, and the Borrower written notice of such LC Issuance, accompanied by a copy to the Administrative Agent of the Letter of Credit or Letters of Credit issued by it.

  • Each LC Issuer shall, on the date of each LC Issuance by it, give the Administrative Agent, each Revolving Lender and the Borrower written notice of such LC Issuance, accompanied by a copy to the Administrative Agent of the Letter of Credit or Letters of Credit issued by such LC Issuer.

  • Each LC Issuer shall, on the date of each LC Issuance by it, give the Administrative Agent, each applicable Revolving Lender and the Borrower written notice of such LC Issuance, accompanied by a copy to the Administrative Agent of the Letter of Credit or Letters of Credit issued by it.

  • Those who had complications during delivery were also significantly more likely to have a caesarean delivery (n=285, 80.7%) or instrumental delivery (n=18, 5.1%)than those with no delivery complications (caesarean section n=128, 6.3%; instrumental delivery n=23, 1.1%).

  • Each Letter of Credit Issuer shall, on the date of each issuance of a Letter of Credit by it, give the Administrative Agent, each Bank and the Borrower written notice of the issuance of such Letter of Credit, accompanied by a copy to the Administrative Agent of the Letter of Credit or Letters of Credit issued by it.

  • Each LC Issuer shall, on the date of each LC Issuance by it, give the Administrative Agent, each applicable Lender and the U.S. Borrower written notice of such LC Issuance, accompanied by a copy to the Administrative Agent of the Letter of Credit or Letters of Credit issued by it.

  • The recruitment process yielded 23 four-year and 4 two-year institutions.


More Definitions of Letter of Credit or Letters of Credit

Letter of Credit or Letters of Credit means all letters of credit issued pursuant to this Financing Agreement with the assistance of the Lenders by any Issuing Bank for the account of the Borrower, as defined in Section 5.01(a) hereof.
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Letter of Credit or Letters of Credit means the aggregate notional amount of all outstanding standby letters of credit issued by the Bank on account of a Member or Former Member in accordance with applicable Regulations.
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Letter of Credit or Letters of Credit means a letter of credit or letters of credit which are to be issued by Bank for the account of Borrower under the Letter of Credit Facility.
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Related to Letter of Credit or Letters of Credit

  • 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 any Issuing Bank relating to any Letter of Credit issued by such Issuing Bank.

  • 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.

  • Letters of Credit as defined in Section 3.1(a).

  • 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.

  • Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05.

  • 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.

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

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

  • 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.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • 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.

  • Existing Letters of Credit means those certain letters of credit set forth on Schedule 1.01(d).

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

  • 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.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • 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.

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

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

  • 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.