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

• Upon the drawing of any Special Letter of Credit, to the extent funds are on deposit in the applicable special sub-account of the L/C Cash Deposit Account in respect of such Special Letter of Credit, such funds shall be applied (prior to the application of any other funds) to reimburse the Issuing Bank of such Letter of Credit to the extent permitted by applicable law, and if so applied, then such reimbursement shall be deemed a repayment of the corresponding Advance in respect of such Letter of Credit.

• Notwithstanding anything to the contrary in the preceding sentences of this Section 2.03(b), (i) each Lender’s obligation to acquire participations pursuant thereto with respect to any Special Letter of Credit shall expire on the day that is 15 days prior to the Termination Date and (ii) each Lender’s existing participation, if any, pursuant thereto with respect to any Special Letter of Credit shall terminate on the day that is 15 days prior to the Termination Date.

• Sepracor Technology" shall mean the Sepracor Patents, Sepracor Know-How and Improvements.

• Each such payment shall be made to such Issuing Bank at its address for notices specified herein in Dollars (or, in the case of any Special Letter of Credit which is not denominated in Dollars, in lawful money in the currency in which such Special Letter of Credit is denominated) and in immediately available funds.

• The project site located outside the floodwall- or levee-protected areas of New Orleans, (Figure 20).

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

Special Letter of Credit means a letter of credit in form and substance reasonably satisfactory to Administrative Agent, issued to Administrative Agent, as beneficiary, for the account of Borrowers, as customer, issued by a depository institution acceptable to Administrative Agent in its reasonable discretion, that includes an “evergreen” provision providing for automatic renewal to the extent available, and that permits one or more drawings at any time by Administrative Agent.

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 has the meaning specified in Section 2.01(b). “Specified Acquisition” means one or more acquisitions of assets, equity interests, entities, operating lines or divisions in any fiscal quarter for an aggregate purchase price of not less than $200,000,000 (it being understood that such consideration shall be determined based on the payment made at the time of the transaction, without regard to any subsequent or earnout payments). “Sterling” means the lawful currency of the United Kingdom of Great Britain and Northern Ireland. “Subsidiary” of any Person means any corporation, partnership, joint venture, limited liability company, trust or estate (whether or not existing as at the date hereof) of which (or in which) more than 50% of (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such limited liability company, partnership or joint venture or (c) the beneficial interest in such trust or estate is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other Subsidiaries. “Taxes” has the meaning specified in Section 2.14(a). “Term SOFR” means,

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 shall have the meaning assigned to such term in subsection 4.1;