Liquidity Letter of Credit definition

Liquidity Letter of Credit means a Revolving Letter of Credit or a LC Facility Letter of Credit.
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Liquidity Letter of Credit has the meaning specified in Section 2.01(e) hereof.
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Liquidity Letter of Credit means, as the context may require (a) any Existing Liquidity Letter of Credit and/or (b) any standby letter of credit issued pursuant to Section 2.06 of this Agreement.
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Examples of Liquidity Letter of Credit in a sentence

  • Securities and portions of them the Trustee selects shall be in amounts of $1 or a whole multiple of $1.

  • In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, any Liquidity Issuing Bank relating to any Liquidity Letter of Credit, the terms and conditions of this Agreement shall control.

  • The Depositary Agent confirms receipt of the Additional Liquidity Letter of Credit.

  • Each Liquidity Issuing Bank in respect of a Liquidity Letter of Credit shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under such Liquidity Letter of Credit.

  • If requested by such Liquidity Issuing Bank, the Borrower also shall submit a letter of credit application on such Liquidity Issuing Bank’s standard form in connection with any request for a Liquidity Letter of Credit.

  • When determining (i) if any amounts are required to be deposited (or the amount so required to be deposited) in the Additional Liquidity Account from time to time or (ii) whether the Additional Liquidity Account has deposited therein the Additional Liquidity Account Required Balance, amounts on deposit in the Additional Liquidity Account shall be aggregated with the amount available to be drawn under an Additional Liquidity Letter of Credit.

  • The Depositary Agent shall not issue any notice of reduction to the provider of the Additional Liquidity Letter of Credit reducing the amount available to be drawn thereunder by the amount available to be demanded under such Special Rent Reserve Account Payment Undertaking Agreements.

  • When determining (i) if any amounts are required to be deposited (or the amount so required to be deposited) in the Additional Liquidity Account from time to time or (ii) whether the Additional Liquidity Account has deposited therein the Additional Liquidity Required Balance, amounts on deposit in the Additional Liquidity Account shall be aggregated with the amount available to be drawn under an Additional Liquidity Letter of Credit.

  • A Liquidity Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (A) the aggregate Liquidity LC Exposure would not exceed $25,000,000 and (B) the sum of the total Liquidity Revolving Credit Exposures shall not exceed the Liquidity Aggregate Commitment.

  • In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Liquidity Issuing Bank relating to any Liquidity Letter of Credit, the terms and conditions of this Agreement shall control.

Related to Liquidity Letter of Credit

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(a).

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

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

  • 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 may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • 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.

  • 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.

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

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

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

  • Acceptable Letter of Credit means a clean, unconditional, irrevocable letter of credit issued by a Wisconsin bank or any other financial institution acceptable to the commissioner which renews on an annual basis for a 3–year term unless written notice of non- renewal is given to the commissioner and the limited service health organization at least 60 days prior to the renewal date.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.