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 Xxxxx Fargo entered into between Company as applicant and Xxxxx Fargo as issuer.

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 Issuing Bank.

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.

• Stand-by Letter of Credit payment – a) direct payment of the Stand-by Letter of Credit Amount to the Remittee; b) deferred payment of the Stand-by Letter of Credit Amount to the Remittee by the Bank in accordance with the rule and conditions set forth in the e Stand-by Letter of Credit Agreement.

• Amount of the Commission Fee shall be calculated in the form and periodicity stipulated in the General Credit Line Agreement and/or the Bank Guarantee, Letter of Credit and/or Stand-by Letter of Credit Agreement.

• Force Majeure – acts of God, fire, hostilities, administrative and legal acts and/or other circumstances insurmountable for the Bank and beyond its control, which: a) are not connected with the Bank’s errors or negligence, b) started or developed after entering into force of the Stand-by Letter of Credit Agreement and c) affect directly full and/or proper fulfillment of obligations assumed under the respective agreement.

• Additional Terms and Conditions - the terms and conditions set forth in Annex N2 to the Stand-by Letter of Credit Agreement (if any), including additions and changes thereto.

More Definitions of Standby Letter of Credit Agreement

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 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 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 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...

Standby Letter of Credit Agreement means that certain Letter of Credit Agreement dated as of April 27, 2001, between the Parent and the Standby L/C Creditor, together with such amendments, restatements, supplements or modifications thereto or any refinancings, replacements or refundings thereof as may be agreed to by the Lenders and the Administrative Agent.