New Issuing Bank definition

New Issuing Bank means any Person that becomes an Issuing Bank pursuant to Section 2.21.
View Source
New Issuing Bank has the meaning specified in Section 2.15.
View Source
New Issuing Bank has the meaning set forth in Section 2.21(a).
View Source

Examples of New Issuing Bank in a sentence

  • From and after such date, all new Letters of Credit requested to be issued hereunder shall be issued by the New Issuing Bank.

  • Such notice shall specify the date (which shall be a Business Day) on which the New Issuing Bank is to become an additional Issuing Bank hereunder.

  • Such notice shall specify the date (which shall be a Letter of Credit Business Day) on which the New Issuing Bank is to become an additional "Issuing Bank" hereunder.

  • The Borrowers agree that after any appointment of a New Issuing Bank hereunder, the Borrowers shall use reasonable commercial efforts to promptly replace (or otherwise cause the applicable beneficiary to return to the Old Issuing Bank for cancellation) each letter of credit issued by the Old Issuing Bank.

  • Such notice shall specify the date (which shall be a Letter of Credit Business Day) on which the New Issuing Bank is to become an additional “Issuing Bank” hereunder.

  • The Account Parties agree that after any appointment of a New Issuing Bank hereunder, the Account Parties shall use reasonable commercial efforts to promptly replace (or otherwise cause the applicable beneficiary to return to the Old Issuing Bank for cancellation) each letter of credit issued by the Old Issuing Bank with a new Letter of Credit issued by the New Issuing Bank.

  • The Account Parties and RenRe agree that after any appointment of a New Issuing Bank hereunder, the Account Parties and RenRe shall use commercially reasonable efforts to promptly replace (or otherwise cause the applicable beneficiary to return to the Old Issuing Bank for cancellation) each letter of credit issued by the Old Issuing Bank with a Letter of Credit issued by the New Issuing Bank.

  • The Account Parties and RenRe agree that after any appointment of a New Issuing Bank hereunder, the Account Parties and RenRe shall use reasonable commercial efforts to promptly replace (or otherwise cause the applicable beneficiary to return to the Old Issuing Bank for cancellation) each letter of credit issued by the Old Issuing Bank with a Letter of Credit issued by the New Issuing Bank.

  • Each of the parties hereto agrees that the requirements of Section 2.05(l) of the Credit Agreement related to the designation and notification of each New Issuing Bank as an Issuing Bank (including, without limitation, the requirement for each New Issuing Bank to execute a counterpart of the Credit Agreement) shall be deemed to have been satisfied by the execution and delivery of this Amendment by each of the Lux Borrower, the Administrative Agent and each New Issuing Bank.

  • As of the Effective Time, the Administrative Agent hereby confirms that each New Issuing Bank is acceptable to it as an Issuing Bank.


More Definitions of New Issuing Bank

New Issuing Bank means each financial institution that executes and delivers to the Administrative Agent a signature page to this Amendment on which it is indicated that such New Issuing Bank shall become a party to the Amended Credit Agreement on the date hereof; and
View Source
New Issuing Bank means any Person that becomes an Issuing Bank pursuant to Section 2.21. “New Issuing Bank Agreement” means an agreement between the Borrowers and a Person that becomes a New Issuing Bank pursuant to such agreement in accordance with Section 2.21. “Non-Defaulting Bank” means, at any time, a Bank that is not a Defaulting Bank or a Potential Defaulting Bank. “Non-Extending Bank” has the meaning specified in Section 2.22(a). “Note” means a Revolving Note or a Swingline Note. “Notice” has the meaning specified in Section 8.02(d). “Notice of Issuance and Application for Letter of Credit” has the meaning specified in Section 2.03(a). “Notice of Revolving Credit Borrowing” has the meaning specified in Section 2.02(a). “Notice of Swingline Advance” has the meaning specified in Section 2.01(c)(ii). “Obligation” means, with respect to any Person, any payment, performance or other obligation of such Person of any kind, including any liability of such Person on any claim, whether or not the right of any creditor to payment in respect of such claim is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, disputed, undisputed, legal, equitable, secured or unsecured, and whether or not such claim is discharged, stayed or otherwise affected by any proceeding referred to in Section 6.01(e). Without limiting the generality of the foregoing, the Obligations of the Borrowers under the Loan Documents include (a) the obligation to pay principal, interest, Letter of Credit commissions, charges, expenses, fees, attorneys’ fees and disbursements, indemnities and other amounts payable by the Borrowers under any Loan
View Source
New Issuing Bank means any Person that becomes an L/C Issuer pursuant to Section 2.16.
View Source