Rollover Letter of Credit definition

Rollover Letter of Credit. 3.5.2 “Rollover Reserve Subaccount” - 3.5
Sample 1Sample 2Sample 3
Rollover Letter of Credit shall have the meaning set forth in Section 2.17(b).
Sample 1Sample 2Sample 3
Rollover Letter of Credit means each letter of credit issued under the Existing UE/Genco Credit Agreement that is an Existing Letter of Credit or an “Existing Letter of Credit” under the New Genco Credit Agreement.
Sample 1Sample 2Sample 3

Examples of Rollover Letter of Credit in a sentence

  • If Borrowers fail to timely pay for any Approved Major Lease Leasing Expenses and such failure continues for ten (10) days after written notice from Lender, Lender shall have the right, but not the obligation, to draw on the Special Rollover Letter of Credit for purposes of making such payment of Approved Major Lease Leasing Expenses.

  • These interviews were valuable for providing confidential spaces to discuss sensitive and/or controversial topics and for providing the time necessary to hold in-depth discussions with stakeholders who have extensive knowledge of the programme or whose viewpoint required an in- depth examination.

  • Borrower may thereupon reduce the amount of the existing Rollover Letter of Credit or obtain a substitute Rollover Letter of Credit in the amount specified by Lender in such notice.

  • If Borrower fails to timely pay for any Approved Major Lease Leasing Expenses and such failure continues for ten (10) days after notice from Lender, Lender shall have the right, but not the obligation, to draw on the Rollover Letter of Credit for purposes of making such payment of Approved Major Lease Leasing Expenses.

  • As of the Tranche A Letter of Credit Expiration Date, each Tranche A Rollover Letter of Credit shall be deemed, for all purposes of this Agreement (including paragraphs (c), (d) and (e) of this Section), to be a Tranche B Letter of Credit issued hereunder.

  • If Lender determines, in its reasonable discretion, that an amount greater than the available amount of the existing Rollover Letter of Credit will be required to pay the amounts to become due for Approved Leasing Expenses during such 12-month period, then Lender shall notify Borrower, in writing, of the additional amount required to pay such Approved Leasing Expenses.

  • Alternatively, Lender may in its reasonable discretion determine that the amount of the existing Rollover Letter of Credit exceeds the amounts necessary to pay the Approved Leasing Expenses due or to become due during such 12-month period, in which case Lender shall notify Borrower, in writing, of such determination.

  • Thereupon, Borrower shall furnish to Lender an amendment increasing the amount of the existing Rollover Letter of Credit to the amount specified by Lender in such notice, or a substitute Rollover Letter of Credit in such specified amount.

  • UN Secretary General Anders Fogh Presidential election in Ukraine25th May 2014 Rasmussen criticised Moscow and maintained that this military attack had infringed Ukraine’s sovereignty which Russia had nevertheless vowed to respect in 1994.

  • If Borrower shall fail to furnish Lender with such amendment to or substitution for the existing Rollover Letter of Credit within 30 days after receipt of request by Lender therefor, then Borrower shall deposit with Lender, in cash, the difference between the amount of such existing Rollover Letter of Credit and the amount specified by Lender in such notice as required, in Lender's reasonable determination, to pay the Approved Leasing Expenses due or to become due during the ensuing 12-month period.


More Definitions of Rollover Letter of Credit

Rollover Letter of Credit means any letter of credit listed on Schedule 1.02 hereto, and any renewal, extension or amendment or increase in any such letter of credit.
Sample 1Sample 2
Rollover Letter of Credit means, with respect to any Acquired Business, any undrawn letter of credit issued on behalf or in respect of such Acquired Business and outstanding on the date the relevant Permitted Acquisition shall have been consummated; provided that (x) the issuer of such letter of credit shall be or shall have become an Issuing Lender hereunder, (y) each of the conditions set forth in Section 4.02 shall have been satisfied and (z) such letter of credit shall comply with all other applicable requirements of this Agreement with respect to Letters of Credit issued hereunder (including, without limitation, Section 2.05(c)), in each case on and as of such date.
Sample 1Sample 2
Rollover Letter of Credit has the meaning assigned thereto in the definition of “Existing Letters of Credit”.
Sample 1
Rollover Letter of Credit means that certain letter of credit outstanding on the Closing with a stated amount of $310,991.71, issued by Wells Fargo for the account of Borrower under the Existing Loan Axxxxxent, and any renewal, extension or amendment or increase in any such letter of credit pursuant to the terms of this Agreement.
Sample 1
Rollover Letter of Credit means any letter of credit that (a) was issued under the Prepetition LC Facility and (b) remains outstanding on the Exit Facility Conversion Date.
Sample 1
Rollover Letter of Credit means each letter of credit issued under the Existing UE/Genco Credit Agreement that is an Existing Letter of Credit or an “Existing Letter of Credit” under the New Union Electric Credit Agreement.
Sample 1

Related to Rollover Letter of Credit

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • 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.

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

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(a).

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

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

  • Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • 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.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • 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.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit D, together with the standard form of application for letter of credit used by the applicable Issuing Bank, signed by a Senior Officer of the applicable Borrower and properly completed to provide all information required to be provided therein.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Letter of Credit Limit means $5,000,000.

  • Irrevocable letter of credit means an irrevocable letter on the financial institution’s standard form containing a request that the party to whom it is addressed pay the bearer or a person named therein money as a result of failure to perform or fulfill all the covenants, undertakings, terms, conditions and agreements contained in a contract.