Standby Credit definition

Standby Credit means a Letter of Credit designed to be payable in the event of default or other nonperformance by party obligated to the beneficiary, such event to be evidenced by the presentation of documents.
Sample 1Sample 2
Standby Credit means a documentary credit, letter of guarantee or standby letter of credit, as the context requires;
Sample 1Sample 2
Standby Credit means the difference between the Specific Credit Line arising out of a Specific Business and Consumed Credit arising out of such Specific Business.
Sample 1

Examples of Standby Credit in a sentence

  • At the time each Standby Credit is issued or increased and at the time the expiration date of any Standby Credit is extended.

  • Negotiation/Payment/Examination Fees: (Minimum $250) 1/4 of 1% of the face amount of each drawing under each Standby Credit.

  • Amendment Fees: (Minimum $130) $130 for each amendment, unless the amendment is an increase in the Standby Credit amount or an extension of the expiration date, in which case the Commission Fee above will substitute for any Amendment Fee.

  • However, those obligations are supported by a Standby Credit from Shell Treasury Dollar Company Limited.

  • Partly in response to United States advocacy, the IMF established the Standby Credit Facility (“SCF”) in July 2009 as a new instrument for concessional financing to low- income countries.

  • Standby Credit Facilities Supporting Uninsured Public DepositsStates, counties, and other municipal authorities place deposits in insured depository institutions to safeguard public funds, access paymentsystems, and produce a reasonable yield.

  • The Standby Credit Sublimit specified above refers to the aggregate undrawn amount of all Standby Credits which may be at any one time outstanding under this Subfacility together with the aggregate amount of all drafts drawn under such Standby Credits which have not been reimbursed as provided below at such time.

  • The users of the Standby Credit shall be deemed agents of Applicant.

  • The amount of each drawing paid by Trade Bank under a Sight Commercial Credit or Standby Credit will be reimbursed to Trade Bank as follows: by Trade Bank having Xxxxx Fargo Bank debit any of Borrower’s accounts with Xxxxx Fargo Bank and forwarding such amount debited to Trade Bank; or immediately on demand of Trade Bank; or by treating such amount drawn as an advance to Borrower under Borrower’s Revolving Credit Facility.

  • The Facility Fee due to each Lender shall be payable in arrears and shall commence to accrue on the date hereof and cease to accrue on the date on which the Commitment of such Lender shall have terminated and such Lender shall have no further Standby Credit Exposure.


More Definitions of Standby Credit

Standby Credit means a standby letter of credit opened or established by the Bank at the request of the Customer.
Sample 1
Standby Credit means a Letter of Credit designed to be payable in the event of default or other nonperformance by party obligated to the beneficiary, such event to be evidenced by the presentation of documents. 1.1.33 “Subordinated Debt”: shall mean such liabilities of the Borrower which have been subordinated to those owed to the Bank in a manner acceptable to the Bank. 1.1.34 “Trade Advance”: means an Advance to pay for a Drawing under a Letter of Credit or to pay a Documentary Collection, if any. 1.1.35 “Usance Credit”: means a Letter of Credit, the terms of which require the Bank to make payment at a specified date or time not more than 90 days after presentation of conforming documents. 1.1.36 “Variable Rate Advance”: shall have the respective meaning as it is defined for each facility under Section 2, hereof. 1.1.37 “Variable Rate”: shall have the respective meaning as it is defined for each facility under Section 2, hereof. 1.1.38 “Working Capital Advance”: shall mean an Advance under the Line of Credit made for the purpose described in Section 2.
Sample 1

Related to Standby Credit

  • Standby L/C an irrevocable letter of credit under which the Issuing Lender agrees to make payments in Dollars for the account of Borrower, on behalf of Borrower or any Qualified Subsidiary in respect of obligations of Borrower or such Subsidiary incurred pursuant to contracts made or performances undertaken or to be undertaken or like matters relating to contracts to which Borrower or such Qualified Subsidiary is or proposes to become a party in Borrower’s or such Qualified Subsidiary’s business, including, without limiting the foregoing, for insurance purposes or in respect of advance payments or as bid or performance bonds or for any other purpose for which a standby letter of credit might customarily be issued.

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

  • Standby is displayed, followed by a message stating “Bidding started”. Enter your “Start bid”.

  • Primary Credit Facility mean the credit facility described in the Line of Credit section of this Agreement.

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding standby Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the total Standby LC Exposure at such time.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

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

  • Standby Fee With respect to each Mortgage Loan and each REO Loan, the fee designated as such and payable to the Special Servicer pursuant to the second paragraph of Section 3.11(c).

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • 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).

  • 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.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

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

  • Availability Credit means the remedy IBM will provide for a validated Claim. The Availability Credit will be applied in the form of a credit or discount against a future invoice of subscription charges for the Service.

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

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Facility LC is defined in Section 2.19.1.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

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

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Facility LC Application is defined in Section 2.19.3.

  • LC means Letter of Credit

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.