Letter-of-Credit Rights definition

Letter-of-Credit Rights means "letter-of-credit rights" as such term is defined in the UCC, now owned or hereafter acquired by any Person, including rights to payment or performance under a letter of credit, whether or not such Person, as beneficiary, has demanded or is entitled to demand payment or performance.

Letter-of-Credit Rights shall have the meaning set forth in Article 9 of the UCC.

Letter-of-Credit Rights means “letter-of-credit rights” as such term is defined in the Code, now owned or hereafter acquired by any Credit Party, including rights to payment or performance under a letter of credit, whether or not such Credit Party, as beneficiary, has demanded or is entitled to demand payment or performance.

Examples of Letter-of-Credit Rights in a sentence

• Chattel Paper and Control of Investment Property, Letter-of-Credit Rights and Electronic Chattel Paper.

• Each Grantor hereby agrees to take any or all action that may be necessary or that the Collateral Agent may reasonably request in order for the Collateral Agent to obtain “control” in accordance with Sections 9-105 through 9-107 of the Code with respect to the following Collateral: (i) Electronic Chattel Paper, (ii) Investment Property, and (iii) Letter-of-Credit Rights.

• Exhibit C lists all Letter-of-Credit Rights and Chattel Paper of such Grantor.

• Execute and deliver all agreements, assignments, instruments or other documents as the Administrative Agent shall reasonably request for the purpose of obtaining and maintaining control within the meaning of the UCC with respect to any Collateral consisting of Deposit Accounts, Investment Property, Letter-of-Credit Rights and Electronic Chattel Paper.

• Such Grantor has no interest in any Letter-of-Credit Rights, except as set forth on Schedule 13 annexed hereto.

More Definitions of Letter-of-Credit Rights

Letter-of-Credit Rights. “Letters of Credit”; “Money”; “Payment Intangibles”; “Proceeds”; “ Records”; “Securities Account”; “Securities Intermediary”; “Security Entitlement”; “Supporting Obligations”; and “Tangible Chattel Paper.”

Letter-of-Credit Rights means all of Borrower’s right, title and interest, whether now owned or hereafter acquired, in, to and under all “letter of credit rights” as defined in the UCC.

Letter-of-Credit Rights means “letter-of-credit rights” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York.

Letter-of-Credit Rights means “letter-of-credit rights” as such term is defined in the UCC.

Letter-of-Credit Rights means all present and future “letter of credit rights” (as defined in Article 9 of the UCC).

Letter-of-Credit Rights shall have the definition assigned in the UCC.

Letter-of-Credit Rights shall have the meaning attributed to such term by the UCC, and shall include any and all of the following, whether now or hereafter existing: any 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, but specifically excludes any right of a beneficiary to demand payment or performance under a letter of credit.