Standby Drawing definition

Standby Drawing has the meaning given to it in the relevant Liquidity Facility Agreement.
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Standby Drawing means a drawing made under the Borrower Liquidity Facility Agreement as a result of a downgrade of a Borrower Liquidity Facility Provider below the Minimum Long Term Rating or in the event that the Borrower Liquidity Facility Provider fails to renew its Commitment;
Sample 1
Standby Drawing means a drawing made under a DSR Liquidity Facility Agreement as a result of a downgrade of a DSR Liquidity Facility Provider below the Minimum Short-term Rating or in the event that the DSR Liquidity Facility Provider fails to renew its commitment on the expiry of the term of such DSR Liquidity Facility Agreement;
Sample 1

Examples of Standby Drawing in a sentence

  • An Obligor draws down under a Borrower Liquidity Facility (excluding any drawing or repayment of any Standby Drawing) or withdraws sums credited to a Debt Service Reserve Account, respectively, or a Borrower Liquidity Standby Account, if the withdrawal of such amount is for the purposes of making scheduled debt service payments on the Borrower Secured Debt.


More Definitions of Standby Drawing

Standby Drawing means a drawing made under the Issuer Liquidity Facility Agreement as a result of a downgrade of an Issuer Liquidity Facility Provider below the Minimum Long Term Issuer Credit Rating or in the event that the Issuer Liquidity Facility Provider fails to renew its Commitment;
Sample 1

Related to Standby Drawing

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

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

  • Drawing means the drawing or drawings specified in or annexed to the Specifications;

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

  • Facility LC Application is defined in Section 2.19.3.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

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

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

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

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Facility LC is defined in Section 2.19.1.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $60,000,000.

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding 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 aggregate Standby LC Exposure at such time.

  • 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.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Interest Drawing has the meaning assigned to such term in Section 3.6(a).

  • Final Drawing has the meaning specified in Section 3.05(i).

  • 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.

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

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.