Standby Letter of Credit Agreement definition

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 Letter of Credit Agreement means an agreement governing the issuance of standby letters of credit by Lender entered into between the Borrower as applicant and Lender as issuer.

Standby Letter of Credit Agreement means an agreement governing the issuance of standby letters of credit by Wxxxx Fargo entered into between Company as applicant and Wxxxx Fargo as issuer.

Examples of Standby Letter of Credit Agreement in a sentence

• In addition, if the amount of Stand-by Letter of Credit amount of the Stand-by Letter of Credit Agreement does not exceed 2,000,000 (two million) GEL or equivalent in other currencies (at the fixed rate by the National Bank of Georgia on the day of writing to the Bank), the Bank Provides to cover The above mentioned obligations on the date of receiving written appeal or if the written appeal was made during non-working hours, no later than the next banking day.

• The terms and conditions set forth in each such L/C Application shall supplement the terms and conditions of the Standby Letter of Credit Agreement or the Commercial Letter of Credit Agreement, as applicable.

• The terms and conditions set forth in each such L/C Application shall supplement the terms and conditions of the Standby Letter of Credit Agreement.

• Prior to requesting issuance of a Letter of Credit, Company shall first execute and deliver to Xxxxx Fargo a Standby Letter of Credit Agreement or a Commercial Letter of Credit Agreement, as applicable, an L/C Application, and any other documents that Xxxxx Fargo may request, which shall govern the issuance of the Letter of Credit and Company’s obligation to reimburse Xxxxx Fargo for any related Letter of Credit draws (the “Obligation of Reimbursement”).

• In case based on the submission of the Application the authorized body of the Bank makes a positive decision regarding the approval of the Stand-by Letter of Credit, the Bank and the Customer signed the Stand-by Letter of Credit Agreement defining specific terms of use of the Stand-by Letter of Credit.

More Definitions of Standby Letter of Credit Agreement

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 applicable L/C Issuer.

Standby Letter of Credit Agreement means the standby letter of credit agreement dated 28 May, 2001 between Viking Asset Purchaser No. 2 Limited and Nordea Bank Danmark A/S (formerly Unibank A/S) as amended and restated by an agreement dated 18 July 2003 between Viking Asset Purchaser No. 2 Limited, Viking Asset Purchaser No. 3 Limited, the Initial L/C Bank and other affiliates of the Initial L/C Bank.

Standby Letter of Credit Agreement means the standby letter of credit agreement to be executed by Borrower either as originally executed or as it may from time to time be supplemented, modified, amended, extended, restated or supplanted.

Standby Letter of Credit Agreement means an agreement governing the issuance of standby letters of credit by Wells Fargo entered into between Company as applicant and Wells Fargo as issuer.

Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement, executed by the Borrower substantially in the form of Exhibit G.

Standby Letter of Credit Agreement means the Continuing Agreement for Standby Letters of Credit, dated as of November 4, 2013, as amended, between XLIT LTD. and Citibank, N.A.

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 Issuing Bank. “Stated Amount” means at any time the maximum amount for which a Letter of Credit may be honored. “Statutory Reserve Rate” means, for any Interest Period, the rate (expressed as a decimal) applicable to the Administrative Agent during such Interest Period under regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the FRB to which the Administrative Agent is subject with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the FRB). Such reserve percentages shall include those imposed pursuant to such Regulation D. LIBO Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. “Subordinated Indebtedness” means Indebtedness which is expressly subordinated in right of payment, in form and on terms approved by the Agents in writing, to the prior payment in full of the Obligations. For the avoidance of doubt, the Term Loan shall not constitute Subordinated Indebtedness. “Subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s Consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more...