Replacement Letter of Credit definition

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

Replacement Letter of Credit shall have the meaning assigned thereto in Section 2.3.

Replacement Letter of Credit means any letter of credit issued in accordance with the provisions of Section 2.07(e) or 10.06(b)(v), in replacement of and in the same form as the relevant replaced Letter of Credit.

Examples of Replacement Letter of Credit in a sentence

• Upon the failure of an assignee to deliver a compliant Replacement Letter of Credit to NYSERDA simultaneously with its receipt of the assignment, NYSERDA shall be thereupon entitled to draw on the Letter of Credit for the full amount then outstanding and the funds received shall be held by NYSERDA for application against subsequent obligations of Seller and/or the assignee under this Agreement.

• Subtenant shall deliver to Sublandlord a new letter of credit (a “Replacement Letter of Credit”) (the Initial Letter of Credit and/or any Replacement Letter of Credit being referred to herein as a “Letter of Credit”) at least thirty (30) days prior to the expiry date of the Initial Letter of Credit or of any Replacement Letter of Credit held by Sublandlord.

• Any assignee within Article VIII of this Agreement shall, simultaneously with its receipt of the assignment, deliver to NYSERDA a Replacement Letter of Credit meeting the requirements of this Article, and NYSERDA shall, within twenty (20) Business Days after receipt of a compliant Replacement Letter of Credit, return the original Letter of Credit to Seller.

• Upon the delivery to Sublandlord of a Replacement Letter of Credit as described in this Section 4, Sublandlord shall return to Subtenant the Initial Letter of Credit or any previous Replacement Letter of Credit then held by Sublandlord.

• Any assignee within Article VIII of this Agreement shall, simultaneously with its receipt of the assignment, deliver to NYSERDA a Replacement Letter of Credit meeting the requirements of this Article, and NYSERDA shall, within twenty (20) business days after receipt of a compliant Replacement Letter of Credit, return the original Letter of Credit to Seller.

More Definitions of Replacement Letter of Credit

Replacement Letter of Credit has the meaning set forth in Section 7.7.

Replacement Letter of Credit has the meaning ascribed thereto in Section 16.3(c).

Replacement Letter of Credit is defined in Section 4.2.

Replacement Letter of Credit has the meaning ascribed thereto in Section 16.3(c). “Reporting Year” means each calendar year during the Term, except that unless the Closing Date is the first day of January, the first Reporting Year shall be a partial year commencing on the Closing Date and ending on December 31st of such calendar year and the last Reporting Year shall be a partial Reporting Year commencing January 1st of such Reporting Year and ending on the End Date.

Replacement Letter of Credit has the meaning given in Section 6(a) hereof.

Replacement Letter of Credit means a letter of credit issued by a bank with a rating of at least A by both Moody's and S&P, for the benefit of the Administrative Agent to secure the repayment of any future drawings under any outstanding Letters of Credit issued hereunder.

Replacement Letter of Credit means an irrevocable letter of credit or letter of guarantee, substantially in the form of the Letter of Guarantee issued to the Payee on the Closing Date, from a commercial bank reasonably acceptable to the Payee and having an Approved Rating at the time of issuance of the replacement letter of credit having an expiration date no earlier than July 13, 2015.