Special Letter of Credit definition

Special Letter of Credit has the meaning specified in Section 2.01(c).

Special Letter of Credit means the Letter of Credit issued August 27, 2007 for the benefit of GE Canada Finance Holding Company, as agent, which supports the guarantee by Lower Lakes of the loan facility extended to Voyageur Maritime Trading Inc.

Special Letter of Credit means each standby Letter of Credit issued to the respective beneficiary thereof by the Issuing Bank for the account of the Borrower pursuant to the terms of this Agreement, having an expiration date not more than one (1) year after the date of issuance thereof and having a face amount which, when added to all Letters of Credit then outstanding or issued contemporaneously therewith, would not exceed the L/C Subfacility.

Examples of Special Letter of Credit in a sentence

• The United States dollar amount of the Loan disbursed under this Section will be.the United States· dollar equiva­ lent of local currency disbursements determined at the rate of exchange provided for in said Special Letter of Credit Implementation Memorandum prevailing as of the date of each respective disbursement as defined in Section 6.04 (b).

• If an Event of Default shall occur and be continuing, Administrative Agent may (i) cause any or all of the funds on deposit in the Project Yield Fund to be withdrawn, and (ii) draw all or any portion of any Special Letter of Credit then outstanding.

• A.I.D., at its option, may make such disbursements from local currency of the country of the Borrower owned by the U.S. Government and obtained by A.I.D. with United States dollars, or obtained with United States dollars in ac­ cordance with the provisions of the Special Letter of Credit lmple• mentation Memorandum dated May 27, 1965 between Xxxxxxxx and A.I.D. �s amended from time to time.

• A.I.D., at its option, may make such disbursements from local currency of the country of the Borrower owned by the U.S. Government and obtained by A.I.D. with United States dollars, or obtained with United States dollars in ac­ cordance with the provisions of the Special Letter of Credit lmple• mentation Memorandum dated May 27, 1965 between Borrower and A.I.D. �s amended from time to time.

• If Borrowers and Kansas City Master Lessee are required to deposit Excess Cash Flow into the Project Yield Fund for more than six consecutive calendar quarters, then at any time following the commencement of the seventh consecutive calendar quarter, Administrative Agent may (i) cause any or all of the funds on deposit in the Project Yield Fund to be withdrawn, and (ii) draw all or any portion of any Special Letter of Credit then outstanding.

More Definitions of Special Letter of Credit

Special Letter of Credit shall have the meaning provided in Section 3.1(c).

Special Letter of Credit means an irrevocable, unconditional, transferable, clean sight draft standby letter of credit having a term of not less than one (1) year and otherwise in form and substance reasonably satisfactory to Administrative Agent, issued to Administrative Agent, as beneficiary, for the account of an Affiliate of a Borrower, as customer, issued by an Approved Bank or another a depository institution reasonably acceptable to Administrative Agent, that includes an “evergreen” provision providing for automatic renewal, and that permits one or more drawings at any time by Administrative Agent. No Borrower shall have any reimbursement obligations under any Special Letter of Credit, and all costs and expenses incurred under any Special Letter of Credit shall payable by the applicant. A Cash Sweep Prevention Letter of Credit will be considered a Special Letter of Credit.

Special Letter of Credit means a standby letter of credit caused to be issued by Agent on behalf of Borrower for the benefit of The Park Avenue Bank, N.A. in a maximum face amount equal to $106,875.

Special Letter of Credit has the meaning specified in Section 2.01(b). Interpublic Credit Agreement

Special Letter of Credit means a Letter of Credit issued for the account of a joint venture which is an Affiliate of the Borrower or in which the Borrower is a participant and as to which responsibility for the reimbursement of L/C Disbursements is to be shared on a several basis by the Borrower and one or more other persons, with each such person being responsible for the reimbursement of a specified percentage of any drawings under such Letter of Credit.

Special Letter of Credit is hereby added to Section 1.1 of the Original Agreement immediately following the definition of "Series C Units":

Special Letter of Credit shall have the meaning assigned to such term in subsection 4.1;