Seller LCs definition

Seller LCs shall have the meaning set forth in Section 5.8(c).
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Seller LCs means the letters of credit made or issued by or on behalf of Seller or its Affiliates (other than the Acquired Companies) for the benefit of the Acquired Companies listed on Schedule 6.10 under the heading “Letters of Credit”.
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Seller LCs means collectively, (a) all letters of credit, guarantees and other financial assurance obligations issued or entered into by or on behalf of any Seller Party or its Affiliates for the account or benefit of any Obligor in connection with any Transferred Financing Contract and (b) all letters of credit and surety bonds issued for the account of Seller in connection with any Transferred Financing Contract.
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Examples of Seller LCs in a sentence

  • As soon as practicable following Closing, the Purchaser shall make the necessary arrangements to replace the Seller LCs with letters of credit posted by the Purchaser or such other Person as may be designated by the Purchaser and acceptable to the applicable landlord, or make such other arrangements as may be necessary to obtain the release of the Seller LCs, and the Purchaser shall use commercially reasonable efforts to complete the foregoing within 30 days following the Closing Date.

  • Also on the Closing Date, Buyer shallestablish with institutional lenders letters of credit or other means of financial support acceptable to Seller (acting reasonably) in such amounts as are necessary for Buyer to provide the same security or other financial support as were provided under the Seller LCs immediately prior to the Closing Date.

  • At or prior to the Closing, Buyer shall obtain, at Buyer’s sole cost and expense, and deliver to the parties holding letters of credit or similar financial accommodations issued for any Seller’s account (collectively, “Seller L/Cs”), replacement letters of credit or similar financial accommodations sufficient to cause such parties to release and return to the applicable Seller(s) at or prior to the Closing the undrawn originals of the Seller L/Cs and all cash and other collateral therefor.

  • Section 9.13 of the Seller Disclosure Letter lists the Seller LCs and the face amount thereof.

  • Buyer acknowledges that, prior to Closing, Seller may cause letters of credit to be issued supporting the payment by the Company of the purchase price and related costs of goods and inventory ("Seller LC's") and that Seller may have a reimbursement obligation to issuing banks with respect to such letters of credit.

  • If any of such letters of credit are outstanding on the Closing Date ("Seller's L/C's"), the Purchaser will provide to the Seller at the Closing a back-to-back letter of credit issued by a bank reasonably acceptable to the Seller in the same amount as the undrawn portion of Seller's L/C's providing that the Seller may draw against such letter of credit from time to time at any time after any Seller L/C's are drawn upon and in the same aggregate amount as the draws on such Seller's L/C's.

  • Also on the Closing Date, Buyer shall establish with institutional lenders letters of credit or other means of financial support acceptable to Seller (acting reasonably) in such amounts as are necessary for Buyer to provide the same security or other financial support as were provided under the Seller LCs immediately prior to the Closing Date.

  • The Buyer shall have provided substitute letters of credit for each of those letters of credit furnished by (or for the benefit of) SMC and SRSC and listed on Section 8.6 of the Seller Disclosure Letter (the “Seller LCs”), and each of the Seller LCs shall have been unconditionally released by the beneficiary thereof.

  • The Purchasers shall have provided substitute letters of credit for each of those letters of credit issued by the Sellers and listed on Section 8.6 of the Seller Disclosure Letter (the “Seller LCs”), and each of the Seller LCs shall have been unconditionally released by the beneficiary thereof.

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Related to Seller LCs

  • Seller Plans has the meaning set forth in Section 3.13(a).

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).

  • Seller Contracts means all contracts, agreements and leases, other than those that are Governmental Permits, to which Seller is a party and pertain to the ownership, operation or maintenance of the Assets or the Business, including those described on Schedule 1.8.

  • Seller has the meaning set forth in the Preamble.

  • Transferred Contracts has the meaning ascribed to it in Section 2.1(c).

  • Retained Contracts shall have the meaning set forth in Section 1.2(i).

  • Seller Use means fuel used for gas compression, LPG plants and LNG plants, other gas needed by Seller's facilities to furnish the requirements of Buyers, together with unaccounted for gas. This gas shall be considered Included In Priority of Service Category 1. Other vital uses of Seller, such as flame stabilization requirements, will be met as long as such uses do not jeopardize service to its firm service Buyers.

  • Sellers has the meaning set forth in the preamble.

  • Seller Plan means any Employee Benefit Plan that is maintained or sponsored by the Seller or any Subsidiaries of the Seller (other than the Companies and their Subsidiaries) for the benefit of any current or former NewCo Employee.

  • Buyer Plans has the meaning set forth in Section 6.02(b).

  • Sellers Disclosure Schedule means the disclosure schedule delivered by the Sellers to the Purchaser on the date hereof.

  • Acquired Contracts has the meaning given in Section 2.1(a).

  • Seller Parties has the meaning set forth in the preamble to this Agreement.

  • Seller Subsidiaries means the subsidiary partnerships of the McNeil Partnerships listed on Annex G to this Agreement (the "Subsidiary Partnerships") and the subsidiary corporations listed on Annex F to this Agreement (the "Subsidiary Corporations") which hold GP Interests in certain of the Subsidiary Partnerships.

  • Purchased Contracts has the meaning set forth in Section 2.1.1(a).

  • Seller Affiliates has the meaning assigned to such term in Section 2.7.1;

  • Seller Disclosure Schedule means the disclosure schedule of Seller delivered to Purchaser in connection with the execution and delivery of this Agreement.

  • Seller Employees shall have the meaning ascribed thereto in Section 7.4(a) hereof.

  • Seller Contract any Contract (a) under which Seller has or may acquire any rights or benefits; (b) under which Seller has or may become subject to any obligation or liability; or (c) by which Seller or any of the assets owned or used by Seller is or may become bound.

  • Seller Entities means the Seller and its affiliates other than the Buyer Entities;

  • Seller Disclosure Letter means the letter, dated as of the date hereof, delivered by Seller to Buyer prior to the execution of this Agreement and identified as the Seller Disclosure Letter.

  • Buyer has the meaning set forth in the preamble.

  • Seller Agreements means those agreements between Seller and third parties, including Artists and/or PRO, wherein Seller is entitled to receive the Percentage Interest of all Assets.

  • Seller Group means, at any time, the group of companies comprised of Xxxxx Fargo & Company and its subsidiaries at that time.

  • Seller Affiliate means any Affiliate of Seller.

  • Seller Parent has the meaning set forth in the Preamble.