Letter of Credit Period definition

Letter of Credit Period means the period commencing on the Effective Date and ending five (5) Business Days prior to the Termination Date.
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Letter of Credit Period means the period of time between the occurrence of a Letter of Credit Event and the earlier of (i) the end of the Remediation Period and (ii) the date which is one hundred eighty (180) days after the later of (x) expiration of this Agreement, and (y) sixty (60) days after the expiration of any credit promotional period relating to a purchase financed under the Program, unless Bank, in its sole discretion, determines to shorten such period.
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Letter of Credit Period means any time that Bonds Outstanding are secured by a Letter of Credit issued in favor of the Trustee by a Letter of Credit Issuer.
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Examples of Letter of Credit Period in a sentence

  • The Borrower agrees that no amendment to any of the Basic Documents shall be effective without the prior written consent of the Trustee in accordance with the terms of the Indenture and, during the Letter of Credit Period, the Letter of Credit Issuer.

  • The Borrower agrees promptly to notify the Authority, the Trustee and, during the Letter of Credit Period, the Letter of Credit Issuer of the occurrence of an Act of Bankruptcy with respect to it or if it becomes aware of an Act of Bankruptcy with respect to the Authority.

  • If, during the Letter of Credit Period, the provisions of this Article VII and the provisions of the Reimbursement Agreement are in conflict, then the provisions of the Reimbursement Agreement shall control.

  • Seller and Buyer shall share equally all fees and expenses payable to the issuer of the Letter of Credit arising in connection with the issuance thereof and throughout the Initial Letter of Credit Period, and Buyer shall be solely responsible for all fees and expenses payable to the issuer of the Letter of Credit arising after the Initial Letter of Credit Period.

  • At all times during the Letter of Credit Period, the Company is required to maintain the Letter of Credit with the Trustee at all times.

  • Anything contained in this Indenture to the contrary notwithstanding, the Issuer and the Trustee may enter into any indenture supplemental to this Indenture upon receipt of the consent of the Bondholders of all Bonds then outstanding, the consent of the Borrower and, if during the Letter of Credit Period, the consent of the Letter of Credit Issuer.

  • The Company shall maintain at all times with the Trustee during the Letter of Credit Period, a Letter of Credit in an amount at least equal to 103% percent of the aggregate principal amount of Bonds then Outstanding, plus 50 days' interest thereon at the maximum rate provided in the Indenture during the Variable Rate Period or, if applicable, plus 215 days' interest thereon at the interest rate on the Bonds during the Fixed Letter of Credit Rate Period.

  • At any time during any Letter of Credit Period, Bank may require that Retailer deliver an Eligible Letter of Credit to Bank in the amount requested by Bank, which amount shall not exceed *** (such requested amount being referred to herein as the “Letter of Credit Amount”); provided, that such Letter of Credit Amount may be increased from time to time pursuant to Section 6.21.

  • Upon expiration of the New Letter of Credit Period, Landlord shall promptly return the New Letter of Credit or Security Deposit, if applicable, or any remaining unapplied balance of any proceeds thereof, to Tenant.

  • Notwithstanding any other ------------ ------------------------------ provision of this Indenture, the Issuer and the Trustee may consent to any amendment, change or modification of the Bond Documents upon receipt of the consent of the Bondholders of all Bonds then outstanding and the consent of the Borrower and if during the Letter of Credit Period, the Letter of Credit Issuer.


More Definitions of Letter of Credit Period

Letter of Credit Period means, with respect to any Letter of Credit, the period commencing on the Effective Date and ending upon the earlier of (a) the fifth day prior to the expiration of the Line of Credit Period or (b) one year after its issuance. Letter of Credit Request shall have the meaning ascribed thereto in Section 4.1(a).
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Letter of Credit Period means any time period between the occurrence of a Letter of Credit Event and the first day thereafter when the S&P Debt Rating is at or above BB+; or if the S&P Debt Rating is unavailable, the Alternate Debt Rating is at or above three (3) rating levels below its level as of the date hereof (or the most nearly equivalent rating level in the Alternate Debt Rating then employed by Bank).
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Letter of Credit Period means any period prior to the time the Bonds bear a Fixed Rate to their maturity.
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Letter of Credit Period means the period from and including the Effective Date to but not including the ninth Domestic Business Day prior to the Termination Date.
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Letter of Credit Period means the period commencing on the Effective Date and ending five (5) Business Days prior to the Termination Date. “Letters of Credit” means, collectively, standby letters of credit issued for the account of Borrower pursuant to Section 2.1(b) and shall include the
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Letter of Credit Period means the period from the Closing Date to and including the Letter of Credit Termination Date.
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Related to Letter of Credit Period

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

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

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

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

  • 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 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 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.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • 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 Fees shall have the meaning set forth in Section 3.2.

  • 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 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 $60,000,000.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • 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.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Letter of Credit Expiration Date means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

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

  • 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 Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

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

  • 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.

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.