Standby Letter of Credit Facility definition

Standby Letter of Credit Facility will mean the Credit Facility described in Section 2.11 of this Second Restated Credit Agreement.
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Standby Letter of Credit Facility means the Revolving Credit Facility (Letters of Credit) less the aggregate principal amount of all Trade Letter of Credit Obligations.
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Standby Letter of Credit Facility means that portion of the Credit Facility in an aggregate amount not to exceed $10,000,000 to be made available by the Letter of Credit Issuer to the Borrowers and the Guarantor for issuance of Standby Letters of Credit to the Beneficiaries designated by the Borrowers pursuant to Clause 4;
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Examples of Standby Letter of Credit Facility in a sentence

  • The new Facility contains both a three year Revolving Credit Facility and a Standby Letter of Credit Facility with an initial nominal limit of US$25 million.

  • Any amount claimed under the standby letter of credit pursuant to the Standby Letter of Credit Facility Contract (No.: ________).

  • Commission, interest, early cancellation fee, commitment fee, arrangement fee, annual review fee and all kinds of expenses in connection with the issuance of the standby letter of credit pursuant to the Standby Letter of Credit Facility Contract (No.: ________).

  • Committed Standby Letter of Credit Facility with Lloyds Bank plc On November 10, 2021, a new Standby Letter of Credit Facility Agreement with Lloyds Bank plc (“Lloyds”) was established, under which Lloyds committed to a letter of credit facility in the amount of $200,000.

  • Stamp duty under the Standby Letter of Credit Facility Contract (No.: ________).

  • HWL represents to the Transferee that the copy of the Deed of Amendment relating to a US$260,000,000 Standby Letter of Credit Facility provided by HWL to the Transferee on or before the date of this Agreement is, as at the date of this Agreement, a true and up to date copy of the Supplemental Subrogation Agreement executed by HWL.

  • The facility includes USD 237 million in long term financing for the FSRU (the "FSRU Loan"), USD 62 million in construction financing for the mooring system (the “Mooring loan) and an USD 10.7 million Standby Letter of Credit Facility.

  • Accrued Letter of Credit Fees shall be due and payable in arrears on the last Banking Day of each March, June, September and December and on the date upon which the Standby Letter of Credit Facility is terminated.

  • In the event of a Total Loss of JACK BATES, upon such Total Loss the Credit Facility shall xx xxxxxxxxxd, all amounts outstanding shall be immediately repaid and cash shall be provided as collateral for the Standby Letter of Credit Facility.

  • Pursuant to a Stand-by Letter of Credit Facility dated October 11, 2004, (the “SBLC Facility” or the “Facility”), the Bank has agreed to issue Stand-by Letters of Credit to secure SCOR’s reinsurance activities and related contracts up to a maximum amount of US$ 200,000,000 (two hundred million US dollars) in a form acceptable to the National Association of Insurance Commissioners (NAIC) in the United States of America or other appropriate regulatory body.


More Definitions of Standby Letter of Credit Facility

Standby Letter of Credit Facility means the Standby Letter of Credit facility described in clause 17 (Standby Letter of Credit Facility).
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Related to Standby Letter of Credit Facility

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

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

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

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

  • 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.

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or a Guarantor in the ordinary course of its business.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • 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.

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

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

  • 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.

  • 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.

  • 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.

  • 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).

  • Facility Letter of Credit Fee is defined in Section 2A.8.

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

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

  • 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.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • 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.

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

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • 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.