Special Letters of Credit definition

Special Letters of Credit has the meaning specified in Section 2.01(d).
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Special Letters of Credit means letters of credit issued by Agent from time to time as an administrative convenience for the account of Company or its Subsidiaries on its own behalf and not on behalf (by risk participation or otherwise) of the other Lenders, in an aggregate undrawn amount at any time outstanding plus the aggregate amount of unpaid Reimbursement Obligations not to exceed the Letter of Credit Reserve in effect at such time, each such letter of credit being in an undrawn amount of less than $750,000.
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Special Letters of Credit means the Letters of Credit issued ---------------------------- pursuant to Sections 2.03(h)-(i) and (i)-(i) hereof, each substantially in the form of Exhibits A and B, attached to the Third Amendment to the Prior Credit Agreement, in respect of the Series 1995 Calcasieu Bonds and the Series 1995 Lafayette Bonds.
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Examples of Special Letters of Credit in a sentence

  • After all Special Letters of Credit shall have expired or been fully drawn upon and all other obligations of the Borrowers thereunder shall have been paid in full, the balance, if any, in such special sub-account of the L/C Cash Deposit Account in respect of Special Letters of Credit shall be promptly returned to the Company.

  • The payment by any Issuing Bank of a draft drawn under any Letter of Credit (other than with respect to Special Letters of Credit on and after the latest Termination Date for the Revolving Credit Facility) shall constitute for all purposes of this Agreement the making by such Issuing Bank of a Letter of Credit Advance, which shall be a Base Rate Advance, in the amount of such draft.

  • The Borrower shall, on the day that is 30 days prior to the latest Termination Date for the Revolving Credit Facility applicable to the Extending Lenders, pay to the Administrative Agent for deposit in the applicable L/C Cash Deposit Accounts an amount sufficient to cause the aggregate amount on deposit in all L/C Cash Deposit Accounts to equal 105% of the aggregate Available Amount of all Letters of Credit (including, for the avoidance of doubt, Special Letters of Credit) then outstanding.

  • The Special Adjustment Amount and Special Letters of Credit Amount shall be distributed in the Applicable Ratio in effect at the time of any such distribution among, on the one hand, all of the Company Common Stockholders in accordance with their respective Common Pro Rata Percentages and, on the other hand, all of the Transaction Incentive Plan Payment Recipients in accordance with their respective Transaction Incentive Plan Payment Percentages.

  • The Company shall, on the day that is 15 days prior to the Maturity Date, pay to Citibank for deposit in the Dollar-denominated L/C Cash Deposit Account an amount equal to 100% of the aggregate Adjusted Available Amount of all Special Letters of Credit then outstanding.

  • Determining Lenders may elect, in their sole discretion, to direct Agent to issue, renew or extend, for the account of Borrower, one or more irrevocable standby Letters of Credit ('Special Letters of Credit') from time to time upon a request by Borrower.

  • Without in any manner limiting Lender's other remedies hereunder, Lender may draw on such Special Letters of Credit at any time following a Default hereunder and apply the proceeds thereof against Borrower' obligations under the Loan Documents.

  • The form has examples for concessions, ticket sales, and fundraising (e.g., carnations or t-shirts).

  • Notwithstanding the foregoing, the obligation of each Lender to fund Special L/C Advances or its participation in the Special Letters of Credit under Section 2.04 will not be terminated upon any termination or acceleration pursuant to this paragraph.

  • Bank's recovery against Debtor under the Loan Documents shall be limited solely to the Collateral (including all rents, issues, profits and income therefrom and proceeds thereof) and the Special Letters of Credit given to Bank as security for Debtor's performance under the Loan Documents, and such recovery shall not be a lien, or the basis of a claim of lien or levy of execution, against the general assets of Debtor.


More Definitions of Special Letters of Credit

Special Letters of Credit means the Letters of ------------------------- Credit issued pursuant to Sections 2.03(h) and (i) hereof, each substantially in the form of Exhibits A and B, attached hereto.
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Special Letters of Credit has the meaning specified in the Preliminary Statements.
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Special Letters of Credit one or more Commercial Letters of Credit which are denominated either (a) in currencies other than Dollars which are reasonably acceptable to the relevant Issuing Bank or (b) issued (in any currency) from a jurisdiction (other than the United States) which is reasonably acceptable to the relevant Issuing Bank; each, a "Special Letter of Credit". For purposes of this Agreement, the aggregate amount of the L/C Obligations outstanding at any date on account of any Special Letter of Credit which is denominated in a currency other than Dollars shall be the amount of Dollars into which the then outstanding face amount of such Special Letter of Credit would be converted at the spot rate of exchange reasonably determined by the Administrative Agent to be available to it on the most recent to occur of (x) the date of issuance (or, in the case of any Special Letter of Credit which is increased, the date of such increase) of such Special Letter of Credit and (y) the last Business Day of the most recently ended calendar quarter (in each such case, without giving effect to any fluctuation in exchange rates since the date of such issuance, increase or quarter-end, as the case may be).
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Special Letters of Credit is denominated in a currency other than Dollars shall be the amount of Dollars into which the then outstanding face amount of such Special Letter of Credit would be converted at the spot rate of exchange reasonably determined by the Administrative Agent to be available to it on the most recent to occur of (x) the date of issuance (or, in the case of any Special Letter of Credit which is increased, the date of such increase) of such Special Letter of Credit and (y) the last Business Day of the most recently ended calendar quarter (in each such case, without giving effect to any fluctuation in exchange rates since the date of such issuance, increase or quarter-end, as the case may be).
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Related to Special Letters of Credit

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Letters of Credit as defined in Section 3.1(a).

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • 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.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • 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 Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

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

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

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

  • 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.

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).