Multicurrency Letter of Credit definition

Multicurrency Letter of Credit means any Letter of Credit issued pursuant to the Multicurrency Facility.

Multicurrency Letter of Credit means any letter of credit issued (or deemed issued) pursuant to Section 2.23 and designated (or deemed designated) as such.

Multicurrency Letter of Credit any Letter of Credit denominated in one or more Foreign Currencies.

Examples of Multicurrency Letter of Credit in a sentence

• The “Class” of a Letter of Credit refers to whether such Letter of Credit is a Dollar Letter of Credit or a Multicurrency Letter of Credit.

• Any Dollar Letter of Credit shall be denominated in Dollars, and any Multicurrency Letter of Credit shall be denominated in Dollars or an Alternative Currency.

• The applicable Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Dollar Letter of Credit or a Multicurrency Letter of Credit.

• Each such notice (each, a “Letter of Credit Notice”) shall be irrevocable, shall be given in the form of Exhibit B-4 and shall specify (i) the requested date of issuance, which shall be a Business Day, (ii) whether the Letter of Credit shall be a Dollar Letter of Credit or a Multicurrency Letter of Credit, (iii) the requested Stated Amount and expiry date of the Letter of Credit, and (iv) the name and address of the requested beneficiary or beneficiaries of the Letter of Credit.

• In the case of a Multicurrency Letter of Credit denominated in an Alternative Currency, the US Borrower or the European Borrower, as applicable, shall reimburse the L/C Issuer in such Alternative Currency, unless the L/C Issuer (at its option) shall have specified in such notice that it will require reimbursement in Dollars.

More Definitions of Multicurrency Letter of Credit

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

Multicurrency Letter of Credit means any Letter of Credit denominated in an Alternative Currency.

Multicurrency Letter of Credit has the meaning given to such term in Section 2.19(a).

Multicurrency Letter of Credit means any Standby Letter of Credit or Commercial Letter of Credit denominated in U.S. Dollars or an Alternative Currency issued (or in the case of any Existing Multicurrency Letter of Credit, deemed to be issued) pursuant to this Agreement under the Multicurrency Revolving Facility.

Multicurrency Letter of Credit if issued or deemed issued under the Multicurrency Revolving Credit Commitments or a “U.K. Letter of Credit” if issued or deemed issued under the U.K. Revolving Credit Commitments.

Multicurrency Letter of Credit. Letters of Credit that utilize the Multicurrency Revolving Commitments.

Multicurrency Letter of Credit means any Letter of Credit which any Borrower requests pursuant to clause (ii) of Section 2.05(a).