Letter of Obligation definition

Letter of Obligation means a Letter of Obligation from the Seller’s Solicitor in the form of the draft set out in Part 5 of the Schedule;
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Examples of Letter of Obligation in a sentence

  • Conveyancing transactions - Purchase: Ten years after completion- although the file may be of use until the property is subsequently disposed of.Sale: One year later after completion (i.e. after implementing Letter of Obligation; dealing with any funds retained; and after Missives have ceased to have effect).

  • As evidenced by the signatures found in the Letter of Obligation, the Sub-Recipient Signatory Official agrees to appoint the Sub-Recipient Authorized Representative to act on behalf of Broadwater County.

  • The Circular A-76 makes clear that a Letter of Obligation (LOO) is intended to be the equivalent of a formal contract award to a Federal entity resulting from the completion of an A-76 competition.

  • As evidenced by the signatures found in the Letter of Obligation, the Sub-Recipient Signatory Official agrees to appoint the Sub-Recipient Authorized Representative to act on behalf of Yellowstone County.

  • Section C.5.a.(3) and (4) - I recommend Attachment F include a definition of the term "Letter of Obligation".

  • As required by the Revised OMB Circular A- 76, a Letter of Obligation (LOO) represents the contract that is created between the Government and the in-house Agency Tender, when a function is retained in- house as a result of a Streamlined or Standard A-76 competition.

  • Information gathered during interviews with the CGA indicated that questions and/or correspondence relating to PSMC performance or Letter of Obligation administration had not been addressed in a consistent manner.

  • As evidenced by the signatures found in the Letter of Obligation, the Sub-Recipient Signatory Official agrees to appoint the Sub- Recipient Authorized Representative to act on behalf of Lewis & Clark County, Emergency Management Program.

  • Administration and Inspection Costs for an MEO Letter of Obligation OEs shall include in the Agency Tender cost estimates to cover the cost of Quality Control.

  • An example of this was the granting of an extension of the transition period via verbal authorization as opposed to a formal amendment of the Letter of Obligation.

Related to Letter of Obligation

  • Letter of Agreement means a written document that informally resolves a

  • Letter of RFP means the letter of invitation being sent by the Procuring Entity to the Consultants.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Bank Agreement means an agreement made by the Trustee with a Bank of a kind referred to in Clause 14(5);

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Reimbursement Agreement as defined in Section 2.8(b).

  • Letter of Undertaking means the letter of undertaking from, amongst others, the Issuer and its Managing Directors to the Initial Purchaser, Investment Manager and the Trustee.

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Letter of Representations means any applicable agreement among the Corporation, the Depositary and a Global Receipt Depository with respect to such Global Receipt Depository’s rights and obligations with respect to any Global Registered Receipts, as the same may be amended, supplemented, restated or otherwise modified from time to time and any successor agreement thereto.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit SUBI Collections into the 2019-B SUBI Collection Account by the related Deposit Date.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Facility LC Application is defined in Section 2.19.3.

  • Disbursement Instruction Agreement means an agreement substantially in the form of Exhibit M to be executed and delivered by the Borrower pursuant to pursuant to Section 6.1(a)(xi), as the same may be amended, restated or modified from time to time with the prior written approval of the Administrative Agent.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Indemnity Agreement means that certain Indemnity Agreement dated as of the Closing Date by Borrower and Indemnitor in favor of Lender.

  • Disbursement Agreement that certain Master Disbursement Agreement, dated as of , 2002, among the Borrower, the Administrative Agent and the other parties signatory thereto, as the same may hereafter be amended or modified in accordance with its terms and the terms of the Credit Agreement.

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • LC Application an application by Borrower Agent to Issuing Bank for issuance of a Letter of Credit, in form and substance satisfactory to Issuing Bank.

  • Irrevocable Letter of Credit means an irrevocable letter on the financial institution’s standard form containing a request that the party to whom it is addressed pay the bearer or a person named therein money as a result of failure to perform or fulfill all the covenants, undertakings, terms, conditions and agreements contained in a contract.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.