Letter-of-Credit Right definition
Letter-of-Credit Right means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.
Letter-of-Credit Right has the meaning set forth in Article 9 of the UCC.
Letter-of-Credit Right means “letter-of-credit right” as defined in Article 9 of the UCC.
Examples of Letter-of-Credit Right in a sentence
Obligors shall (a) notify Agent on a quarterly basis of any new interest in any Deposit Account, Chattel Paper, Document, Instrument, Intellectual Property, Investment Property or Letter-of-Credit Right, and (b) upon request, take such actions as Agent deems appropriate to effect its perfected, first priority Lien on the Collateral, including obtaining any possession, control agreement or Lien Waiver.
More Definitions of Letter-of-Credit Right
Letter-of-Credit Right means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance.
Letter-of-Credit Right. “proceeds”, “record”, “securities account”, “security”, “supporting obligation” and “tangible chattel paper”.
Letter-of-Credit Right means a right to payment or
Letter-of-Credit Right. Has the meaning given that term in UCC and also refers to any right to payment or performance under an L/C, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance.
Letter-of-Credit Right means any “Letter of credit right,” as such term is defined in the UCC, now owned or hereafter acquired by the Debtor or in which the Debtor now holds or hereafter acquires any interest, including any right to payment or performance under any letter of credit.
Letter-of-Credit Right means a right to payment or performance under a letter of
Letter-of-Credit Right. “Securities Account”, “Security”, “Supporting Obligations” and “Uncertificated Securities”.