New Letter of Credit definition

New Letter of Credit any letter of credit issued pursuant to this Agreement and any successive renewals or extensions thereof.
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New Letter of Credit as defined in Section 2.10.
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New Letter of Credit means each letter of credit (other than the Existing Letters of Credit) issued by the Issuer for the account of the Borrower pursuant to Section 2.02A.
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Examples of New Letter of Credit in a sentence

  • Letters of Credit 0.00 Total New Letter of Credit Balance: 0.00 33 A.

  • The New Letter of Credit shall be issued either by Comerica Bank, Silicon Valley Bank, or such other bank as may be acceptable to Landlord in its sole discretion and shall be administered and applied per this Section 4.

  • If Tenant fails to renew the New Letter of Credit by the date that is ten (10) days prior to its expiration, Landlord may draw on the New Letter of Credit and maintain the funds as a non-interest-bearing deposit to be returned to Tenant on receipt by Landlord of a substitute New Letter of Credit from Tenant.

  • The New Letter of Credit shall be irrevocable for the period ending no less than one (1) year after the date of issuance.

  • Tenant shall not assign or encumber the New Letter of Credit or any part thereof and that neither Landlord nor its successors or assigns will be bound by any such assignment, encumbrance, attempted assignment, or attempted encumbrance.


More Definitions of New Letter of Credit

New Letter of Credit has the meaning set forth in Section 4.13(b) of this Agreement.
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New Letter of Credit means any irrevocable evergreen -------------------- standby letter of credit with a non-renewal clause of at least thirty (30) days issued pursuant to Section 2.01 which is not issued to replace an Existing Letter of Credit.
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New Letter of Credit means any letter of credit (the expiry date of which shall not extend beyond the Termination Date) obtained by the Borrower after the Closing Date, which is to be supported by cash collateral, provided from the proceeds of New Facility Loans made by the Lenders under this Agreement.
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New Letter of Credit shall have the meaning assigned thereto in Section 3.1
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New Letter of Credit means, collectively, (a) any Letter of Credit other than a Letter of Credit that is (i) issued hereunder to replace a Prepetition Letter of Credit or (ii) deemed outstanding hereunder pursuant to clause (b) of the definition of “Letter of Credit” and (b) with respect to any amendment to a Letter of Credit described in clause (a) that increases the face amount of such Letter of Credit, that portion of such Letter of Credit that represents such increase. If any Letter of Credit described in the foregoing clause (a)(i) has a face amount in excess of the Prepetition Letter of Credit that such Letter of Credit replaces, then such excess shall be deemed a New Letter of Credit.
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New Letter of Credit means any irrevocable evergreen
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New Letter of Credit shall have the meaning given such term in PARAGRAPH 2(b) above.
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