Payment Undertaking definition

Payment Undertaking means the Payment Undertaking entered into or to be entered into by and among the Sponsors, the Facility Agent and the Collateral Agent.
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Payment Undertaking has the meaning specified in Section 18.2(r).
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Payment Undertaking means the payment undertaking dated as of June 22, 2011, among YC, YK, the Bank of China and the Vendor, pursuant to which the Bank of China has agreed to pay the maximum sum of US$7.5 million to the Vendor or to release the payment undertaking, upon the receipt of certain joint certificates, as more particularly set forth in section 2.5(c) and all as more particularly set out in such Payment Undertaking;
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Examples of Payment Undertaking in a sentence

  • The assignment is an outright assignment and will automatically take effect with respect to an Export Credit without further act at the time when ANZ provides a Payment Undertaking and/or Finance in respect of the relevant Export Credit.

  • An ANZ branch in one country may provide a Payment Undertaking, confirm under UCP, honour or Finance as Nominated bank under a Documentary Credit issued by an ANZ branch in another country without adversely affecting in any way, or extinguishing, the rights, liabilities and obligations under the Documentary Credit or the Customer’s liability to ANZ in respect of that honouring or Financing of the Documentary Credit in accordance with these Terms.

  • The Customer has not previously received a Payment Undertaking for, or drawn and/or received any amount under, any Export Credit from any person including ANZ which is the subject of a Payment Undertaking and/or Financing made under these Terms.

  • Any Payment Undertaking provided for an Export Credit will end upon the Customer’s account being credited with the Financing proceeds for that Export Credit and ANZ will not be obliged to make any other payment to the Customer.

  • In the event there is a mismatch in terms, ANZ may renegotiate the fees agreed with the Customer based on the terms of the final Export Credit or cancel the Payment Undertaking for that Export Credit.

  • Notwithstanding anything to the contrary, ANZ is not obliged to provide a Payment Undertaking for an Export Credit or Finance the Compliant Trade Documents of that Export Credit unless all the terms and conditions relating to Exports Credits in these Terms are duly observed by the Customer.

  • Where ANZ agrees to provide a Payment Undertaking on the basis of a draft Export Credit, the terms of the final Export Credit must match those of the draft provided by the Customer.

  • Unless otherwise agreed in writing with ANZ, if ANZ has Financed an Export Credit without a Payment Undertaking, the Financing is provided to the Customer on a full recourse basis in all circumstances and without exceptions.

  • Payment Undertaking means, in respect of an Export Credit, the commitment to pay or honour as set out in Clause 7.3 (which includes, without limitation, a confirmation under UCP) subject to these Terms.

  • When ANZ receives the Customer’s acceptance of ANZ’s offer to provide a Payment Undertaking and/or ANZ and the Customer agree in writing the fees to be paid by the Customer in respect of the relevant Payment Undertaking, the Export Credit has the benefit of the Payment Undertaking.


More Definitions of Payment Undertaking

Payment Undertaking means the Payment Undertaking Agreement dated as of the date hereof by the Fund in favor of its Shareholders.
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Related to Payment Undertaking

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • group undertaking means the Company or another undertaking in the group;

  • railway undertaking means any public or private undertaking licensed according to this Directive, the principal business of which is to provide services for the transport of goods and/or passengers by rail with a requirement that the undertaking ensure traction; this also includes undertakings which provide traction only;

  • collective investment undertaking or ‘CIU’ means a UCITS as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council (2) or an alternative investment fund (AIF) as defined in point (a) of Article 4(1) of Directive 2011/61/EU of the European Parliament and of the Council (3);‌

  • subsidiary undertaking means an undertaking controlled by a parent undertaking, including any subsidiary undertaking of an ultimate parent undertaking;

  • public undertaking means any undertaking over which the public sector bodies may exercise directly or indirectly a dominant influence by virtue of their ownership of it, their financial participation therein, or the rules which govern it; for the purpose of this definition, a dominant influence on the part of the public sector bodies shall be presumed in any of the following cases in which those bodies, directly or indirectly:

  • financial undertaking means any of the following entities:

  • Undertaking Letter The letter in substantially the form set forth in Exhibit C of the Trust Agreement.

  • Letter of Undertaking means the letter of undertaking from, amongst others, the Issuer and its Managing Directors to the Initial Purchaser, Investment Manager and the Trustee.

  • insurance undertaking means insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1);

  • reinsurance undertaking means reinsurance undertaking as defined in point (4) of Article 13 of Directive 2009/138/EC;

  • Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

  • Undertaking means any natural or legal person, whether profit-making or not, or any official body whether having its own legal personality or not;

  • electricity undertaking means any person engaged in the generation,transmission, distribution or supply of electricity including any holder of a licence or authorisation or a person who has been granted a permit under Section 37 of the Principal Act and any person transferring electricity to or from Ireland across an interconnector or who has made an application for use of an interconnector which has not been refused;

  • related undertaking means any undertaking in which any person has a

  • Disclosure Undertaking means the Issuer’s master undertaking to provide ongoing disclosure relating to certain obligations contained in the SEC Rule in connection with the general obligation notes of the Issuer issued after February 27, 2019, as implemented by Ordinance Number 50-933 of the Issuer.

  • Confidentiality Undertaking means a confidentiality undertaking in substantially the appropriate form recommended by the LMA from time to time or in any other form agreed between the Borrowers and the Facility Agent.

  • Continuing Disclosure Undertaking means the Continuing Disclosure Undertaking of the Issuer, in substantially the form attached hereto as Exhibit 1, dated the Closing Date, for the purpose of providing continuing disclosure information under Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as may be amended from time to time.

  • Standard Securitization Undertakings means representations, warranties, covenants and indemnities entered into by the Borrower or a Subsidiary thereof that are reasonably customary in non-recourse securitization transactions.

  • Performance Undertaking means that certain Performance Undertaking, dated as of the Closing Date, by Performance Provider in favor of Seller, substantially in the form of Exhibit XI, as the same may be amended, restated, supplemented or otherwise modified from time to time.

  • Guarantee and Adherence Agreement means the guarantee and adherence agreement pursuant to which the Guarantors shall, amongst other, (i) guarantee all amounts outstanding under the Finance Documents, including but not limited to the Bonds, plus accrued interests and expenses, (ii) agree to subordinate all subrogation claims, and (iii) undertake to adhere to the terms of the Finance Documents.

  • ancillary services undertaking means an undertaking the principal activity of which consists in owning or managing property, managing data-processing services, or any other similar activity which is ancillary to the principal activity of one or more credit institutions;

  • group of undertakings means a controlling undertaking and its controlled undertakings;

  • Approved Manager’s Undertaking means, in relation to each Ship, a letter of undertaking executed by the Approved Manager in favour of the Security Trustee in the Agreed Form agreeing certain matters in relation to the Approved Manager serving as the manager of that Ship and subordinating the rights of the Approved Manager against such Ship and the relevant Borrower to the rights of the Security Trustee under the Finance Documents;

  • Programme Agreement means the programme agreement entered into on or about the date hereof between, inter alios, the Guarantor, the Sellers, the Issuer, the Representative of the Covered Bondholders and the Dealers.