Parkland definition
Examples of Parkland in a sentence
Unless otherwise expressly agreed by the LC Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit or a Parkland Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit.
The Borrower shall use the proceeds of all Loans (other than any Loans made on the Closing Date) (a) for working capital purposes, (b) for purchases of common Equity Interests of the Borrower or other Distributions, (c) for acquisitions of assets or Equity Interests otherwise permitted under the terms of this Agreement (including the Parkland Transactions) and (d) for general business purposes.
Parkland Existing Letters of Credit shall be deemed to have been issued hereunder as of the Parkland Acquisition Closing Date, automatically and without further action.