Seller Letter of Credit means an unconditional, irrevocable letter of credit issued by a Qualified Issuer on behalf of Seller either (a) substantially in the form of the letter of credit attached hereto as Exhibit W or (b) otherwise in form and substance satisfactory to Purchaser in Purchaser’s reasonable discretion.
Seller Letter of Credit. An unconditional, irrevocable, direct-pay, divisible, and transferable on demand standby letter of credit in favour of the Purchaser in the form set out in Schedule 9, issued or to be issued by a bank or other financial institution reasonably acceptable to the Purchaser, which provides for draws by the Purchaser in immediately available funds on a Monthly basis upon presentation at a bank in Lahore, Pakistan, which shall be delivered by the Seller to the Purchaser in the amount of $35.00 (Dollars thirty five) per kW of the Contract Capacity.
Seller Letter of Credit. The meaning ascribed thereto in the Energy Purchase Agreement.
Examples of Seller Letter of Credit in a sentence
Indebtedness of the Companies (other than Indebtedness described in Schedule 7.01) to Sellers incurred in connection with Permitted Acquisitions which (a) has terms and conditions satisfactory to the Agent and (b) is not secured other than by a Seller Letter of Credit.
The Letter of Credit shall be for a minimum term of two (2) years (or one (1) year with a right to renew for a second year and provisions allowing the Seller Letter of Credit to be drawn on if not renewed within thirty (30) days prior to its expiration).
The Seller Letter of Credit shall be issued by Bank of America, N.A., or a comparable bank or financial institution acceptable to Buyer in its sole discretion.
The Seller Letter of Credit shall provide that it may be drawn upon by written notice from Deposit Holder.
The Seller Letter of Credit shall be held by Escrow Agent pursuant to an Escrow Agreement in the form attached hereto as Exhibit E modified to conform to the terms of this Agreement and as required by Title Company when Title Company holds a letter of credit.
More Definitions of Seller Letter of Credit
Seller Letter of Credit. An unconditional, irrevocable, direct-pay, divisible, and transferable on demand bank guarantee in favour of the Purchaser in the form of bank guarantee or letter of credit set out in Schedule 8, issued or to be issued by a bank or other financial institution reasonably acceptable to the Purchaser, that provides for draws by the Purchaser in immediately available funds on a Monthly basis upon presentation at a bank in Kabul, Afghanistan, which shall be delivered by the Seller to the Purchaser in the amount of US Dollars Six Hundred Thousand Dollars, only (US$ 600,000).
Seller Letter of Credit the Letter of Credit to be issued by First ----------------------- Union for the benefit of the Seller in the original amount of $2,372,175.
Seller Letter of Credit shall have the meaning set forth in Section 15.2 hereof.
Seller Letter of Credit. An unconditional, irrevocable, divisible, and transferable on demand letter of credit in favour of the Purchaser in the form set out in Schedule 9, which is issued by a bank or other financial institution reasonably acceptable to the Purchaser, and which shall provide for draws by the Purchaser in immediately available funds on a Monthly basis upon presentation at a bank at Islamabad, Pakistan, and which, at the Effective Date, shall be delivered by the Seller to the Purchaser in the amount of thirty five (35) Dollars ($35) per kW of the Contract Capacity. ["Shortfall Energy" - The shortfall, if any, of the Monthly Energy in a given Month below the Monthly Benchmark Energy for that Month, where such shortfall is attributable to the Monthly Mean Flow being less than the Monthly Benchmark Flow, determined in accordance with Section 9.1(a)(iii).]13 ["Shortfall Energy Payment" - The payment for Shortfall Energy, determined subject to and in the manner provided in Section 9.1(a)(iv).]14
Seller Letter of Credit. An unconditional, irrevocable, direct-pay, divisible, and transferable-on-demand standby letter of credit in favour of the Purchaser, in the form set out in Schedule 4, and issued or to be issued by a bank or other financial institution reasonably acceptable to the Purchaser – which provides for draws by the Purchaser in immediately available funds on a Monthly basis upon presentation at a bank in Lahore, Pakistan, and which shall be delivered by the Seller to the Purchaser in the amount of $35 (Dollars thirty five) per kW of the Contract Capacity.
Seller Letter of Credit. An unconditional, irrevocable, direct-pay, divisible, and transferable on demand standby letter of credit in favour of the Purchaser in the form set out in Schedule 9 and which is issued by a bank or other financial institution which is reasonably acceptable to the Purchaser, and shall provide for draws by the Purchaser in immediately available funds on a Monthly basis upon presentation at a bank in Lahore, Pakistan, which shall be delivered by the Seller to the Purchaser in the amount of $35.00 (Dollars thirty five) per kW of the Contract Capacity. "Shortfall Energy" - The shortfall, if any, of the Monthly Energy in a given Month below the Monthly Benchmark Energy for that Month, where such shortfall is attributable to the Monthly Actual Wind Speed being less than the Monthly Benchmark Wind Speed, determined in accordance with Section 9.1(a)(iii).
Seller Letter of Credit. The meaning ascribed thereto in the Energy Purchase Agreement. “Site” – The meaning ascribed thereto in the Site Sub-lease.