Parent Letters of Credit definition

Parent Letters of Credit means outstanding letters of credit issued by JPMCB issued for the account of the Parent under the Existing Credit Agreement in an aggregate amount not to exceed $13,000,000.
Sample 1Sample 2
Parent Letters of Credit means, after giving effect to the Reorganization, collectively, those letters of credit issued to secure an obligation of any of the Companies under which Parent or any of its Affiliates (other than the Companies) is the party responsible for the reimbursement of any draws by the beneficiary. The outstanding Parent Letters of Credit (including the amount of each such Parent Letter of Credit and the Contract under which each such Parent Letter of Credit is posted), after giving effect to the Reorganization, are listed in ‎Section 6.07(a) of the Disclosure Letter (as it may be amended from time to time in accordance with Section 6.07(d)).
Sample 1
Parent Letters of Credit means those letters of credit listed on Disclosure Schedule 3.25 to the Senior Credit Agreement and any other letters of credit issued for the account of Parent to third parties for the payment of ordinary course trade payables of the Borrower or any other Credit Party.
Sample 1

Examples of Parent Letters of Credit in a sentence

  • It is acknowledged and agreed that the Swedish Letter of Credit is one of the Parent Letters of Credit and that the terms and provisions of the Credit Agreement (including without limitation Sections 2.1.5 and 2.3 of the Credit Agreement) and the other Loan Documents shall apply to the Swedish Letter of Credit.

  • The Initial Letters of Credit (to the extent issued) shall be part of the Parent Letters of Credit (and the Master Letter of Credit Agreement executed by the Parent shall cover, among other things, the Initial Letters of Credit (to the extent issued) as well as any other Parent Letters of Credit).

  • It is acknowledged and agreed that the Swedish Letter of Credit is one of the Parent Letters of Credit and that the terms and provisions of the Credit Agreement as amended, restated, supplemented or otherwise modified from time to time (including without limitation Sections 2.1.5 and 2.3 of the Credit Agreement) and the other Loan Documents shall apply to the Swedish Letter of Credit.

  • The Parent Letters of Credit may only (i) before the Fifth Amendment Effective Date, be issued in Dollars or Euros and (ii) on or after the Fifth Amendment Effective Date be issued in Dollars.

  • Purchaser shall have (i) obtained and delivered to Parent a full and unconditional release of all of the obligations of Parent and its Affiliates (other than the Companies) with respect to each Parent Letter of Credit, each of which releases shall be reasonably acceptable to Parent or (ii) delivered to Parent cash collateral or a Purchaser Letter of Credit in an amount equal to the aggregate amount of all Unreleased Parent Letters of Credit.

  • All such letter of credit fees shall be computed for the actual number of days elapsed on the basis of a year of 360 days (for the avoidance of doubt, letter of credit fees shall continue to accrue on the undrawn amounts of Letters of Credit for as long as such undrawn amounts are outstanding notwithstanding the fact that Parent Revolving Commitments (in the case of Parent Letters of Credit) or German Revolving Commitments (in the case of the German Letters of Credit) may have been terminated).

  • Each Letter of Credit may be issued for the account of or used by the Parent Guarantor, any Borrower or any Subsidiary, but the Borrowers shall have full liability for each Letter of Credit other than the Parent Letters of Credit, for which the Borrowers shall have no liability.

  • The method used on the smartwatch to help the user changing his or her habit is based on the book ‘The power of habit’ by Charles Duhigg.

  • In China, when produced for export it was most often as table and teawares, although some utilitarian forms were also made, including toiletries.FUNCTIONAL TYPOLOGY Archaeologists also divide ceramics (and other artifacts) by their original uses and, functions.

  • Each payment by the Administrative Agent pursuant to a drawing under a Letter of Credit (excluding the Parent Letters of Credit) shall constitute and be deemed a Base Rate Advance by each Lender to the Borrowers under such Lender's Note and this Agreement as of the day and time such payment is made by the Administrative Agent and in the amount of such Lender's pro rata share of such payment.


More Definitions of Parent Letters of Credit

Parent Letters of Credit has the meaning specified in SECTION 3.1 hereof.
Sample 1

Related to Parent Letters of Credit

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • Letters of Credit as defined in Section 3.1(a).

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Financing Commitments has the meaning set forth in Section 5.7.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Equity Commitment Letters has the meaning set forth in Section 6.6(a).

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

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

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Revolving Loan Documents has the meaning specified for the term “Loan Documents” in the Revolving Credit Agreement.

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Debt Commitment Letters shall have the meaning set forth in Section 5.7(a), as supplemented by Section 6.11, as applicable.

  • Bridge Loan Documents means the “Loan Documents” as defined in the Bridge Credit Agreement.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Credit Agreements means any promissory note, mortgage, loan agreement, indenture or similar instrument or agreement to which the Company or any of its Subsidiaries is or becomes a borrower, as such instruments or agreements may be amended, restated, supplemented or otherwise modified from time to time and including any one or more refinancing or replacements thereof, in whole or in part, with any other debt facility or debt obligation, for as long as the payee or creditor to whom the Company or any of its Subsidiaries owes such obligation is not an Affiliate of the Company.

  • Commitment Letters has the meaning set forth in Section 4.5.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • 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.

  • Equity Commitment Letter has the meaning set forth in Section 5.5(a).

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

  • Debt Financing Documents means the agreements, documents and certificates contemplated by the Financing, including all credit agreements, loan documents, purchase agreements, underwriting agreements, indentures, debentures and notes pursuant to which the Financing will be governed or contemplated by the Debt Commitment Letter.

  • 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.