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.

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.

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

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.

• 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.

• 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.

• In each policy, other than policies of worker's compensation insurance, the Issuer and the Trustee shall be named as insureds, additional insureds or loss payees, as appropriate, as their interests may appear, provided, however, that the foregoing requirement shall not be applicable during any Letter of Credit Period.

• 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.

More Definitions of Letter of Credit Period

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.

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 any Remediation Period, and (ii) after the termination of this Agreement, the later of the date which is (x) one hundred eighty (180) days after such termination, 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.

Letter of Credit Period means the period from the Closing Date to and including the Letter of Credit Termination Date.

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.

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).

Letter of Credit Period means any period prior to the time the Bonds bear a Fixed Rate to their maturity.

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).