Letters of. Credit shall mean any letter(s) of credit issued pursuant to Section 2.4 hereof for or on behalf of the Borrower.
Letters of. Credit is used herein as defined in Section 2(c).
Letters of credit," "instruments," " deposit accounts," "inventory," "farm products," fixtures" and "equipment," as such terms are defined in Division 9 of the California Uniform Commercial Code in effect on the date hereof, and all products, proceeds and insurance proceeds of the foregoing.
Examples of Letters of in a sentence
If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above.
Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed.
After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.
All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof.
The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.
More Definitions of Letters of
Letters of. Credit shall mean Standby or Commercial Letters of Credit. -----------------
Letters of. Credit shall not bear interest until drawn upon. Letters of Credit for commercial purposes shall each be subject to a fee payable to First Union National Bank, for its own account, said fee to be based on its issuance charges as in effect from time to time. Letters of Credit which are standby in nature shall each be subject to an annual charge, payable quarterly in arrears from the date of issuance, equal to (a) 200 basis points (2.00%) times the aggregate amount of all standby Letters of Credit outstanding which shall be shared among the Banks pro rata in the same proportions that each Bank's Loan Commitment bears to the Aggregate Loan Commitment, and (b) 12.5 basis points (1/8 of 1%) times the face amount of each standby Letter of Credit outstanding which shall be payable to the issuing Bank. Within the foregoing limit, the Hxxx Companies may request issuance of Letters of Credit, reimburse First Union upon a drawing thereunder and request new issuances. If any obligation of the Hxxx Companies to pay money in connection with any Letter of Credit is not met when requested by First Union, as permitted by the applicable letter of credit application and the reimbursement agreement contained therein, the amount due shall be funded automatically by a Revolving Loan which Revolving Loan shall be made without regard to any minimum borrowing requirement, condition precedent herein, or Event of Default hereunder which would otherwise entitle any Bank or the Banks not to provide such Revolving Loan, and each Bank shall make its proportionate share of such Revolving Loan. Any obligation of the Hxxx Companies to pay money in connection with any Letter of Credit shall be secured as if made as a Revolving Loan hereunder. In the event the Hxxx Companies shall terminate the Aggregate Revolving Loan Commitment as provided in ss.2.6 and shall pay the outstanding principal amount of all Revolving Loans in full and with interest or the Revolving Credit Termination Date shall occur at a time when one or more Letters of Credit remain outstanding, then the Hxxx Companies shall furnish to First Union, within three Business Days such amount of cash, to be held as cash collateral and invested in certificates of deposit of First Union National Bank, as will pay the maximum amount which may be drawn by beneficiaries of Letters of Credit outstanding at the date of such termination or Revolving Credit Termination Date, as applicable.
Letters of. Counsel shall be purged from the employee’s personnel file when twenty-four
Letters of. Credit shall mean Standby Letters of Credit and Trade Letters of Credit. Letter of Credit shall mean any one of the Standby Letters of Credit or Trade Letters of Credit.
Letters of. SCC's and Coxxxx'x Xuditors. SCC shall use all reasonable efforts to cause to be delivered to Coxxxx a letter of C&L and Coxxxx xhall use all reasonable efforts to cause to be delivered to SCC a letter of Ernst & Young LLP ("E&Y"), Coxxxx'x xndependent auditors, each such letter dated a date within two business days before the date on which the Registration Statement shall become effective and addressed to Coxxxx or SCC, as applicable, in form and substance reasonably satisfactory to such recipient, and in scope and substance consistent with applicable professional standards for letters delivered by independent public accountants in connection with registration statements similar to the Registration Statement. Each of SCC and Coxxxx xhall use reasonable efforts to cause to be delivered to the other an update, dated the Closing Date, of the letter of its independent auditors described in the preceding sentence.
Letters of. Credit shall mean and include all letters of credit heretofore or hereafter issued by NationsBank for the account of the Borrower pursuant to this Agreement. Liabilities of any person shall mean obligations that are properly classified as liabilities under GAAP.
Letters of. Credit shall mean all letters of credit issued in accordance with Section 5 hereof by the Issuing Bank for or on behalf of any of the L/C Eligible Account Parties. Line of Credit shall mean the aggregate commitment of the Lenders (a) to make Revolving Loans pursuant to Section 3 of this Financing Agreement, (b) as Issuers, to assist any of the L/C Eligible Account Parties in opening Letters of Credit pursuant to Section 5 of this Financing Agreement and (c) to make Term Loan A pursuant to Section 4 of this Financing Agreement, in the aggregate amount of $10,000,000.00, and (d) to make Term Loan B pursuant to Section 4 of this Financing Agreement, in the aggregate of $10,000,000.00, provided that nothing herein shall be deemed to increase any Lender's commitment hereunder, as it shall be set forth in the applicable schedules prepared by the Administrative Agent or in the Assignment and Transfer Agreements executed by such Lender, and the aggregate amount of all such commitments shall not exceed $65,000,000.00.