Standby Letters of Credit definition

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

Standby Letters of Credit means those letters of credit subject to the ISP or UCP issued or caused to be issued by Lender for Borrower’s account that can be drawn upon by a Buyer only if Borrower fails to perform all of its obligations with respect to an Export Order.

Standby Letters of Credit means any of the irrevocable standby letters of credit issued pursuant to this Agreement, in form acceptable to the Facing Agent, together with any increases or decreases in the Stated Amount thereof and any renewals, amendments and/or extensions thereof.

Examples of Standby Letters of Credit in a sentence

• DESCRIPTIONNet Loans, Leases and Standby Letters of Credit as a Percent of Total Assets NARRATIVEThe sum of net loans, lease financing receivables and standby letters of credit divided by total assets.

• A Master Agreement for Standby Letters of Credit between Borrower and GE Capital.

• A Master Agreement for Standby Letters of Credit among Borrowers and GE Capital.

• Unless otherwise specified, all Standby Letters of Credit and Commercial Letters of Credit will be governed by the “Uniform Customs and Practice for Documentary Credits” and all Bank Guarantees will be governed by the “Uniform Rules for Demand Guarantees”, in each case as issued by the International Chamber of Commerce and as in effect on the date of issuance of such Letter of Credit.

• Unless a Standby Letter of Credit is drawn by Contracting Authority in accordance with the provisions of this Project Agreement, Contracting Authority shall release and deliver the Standby Letter(s) of Credit to Project Co on Financial Close.

More Definitions of Standby Letters of Credit

Standby Letters of Credit means standby letters of credit issued to support trade transactions or for any other lawful purposes of the Borrower and its Subsidiaries.

Standby Letters of Credit means all Letters of Credit issued in connection with this Agreement as a credit enhancement for certain Indebtedness (other than Indebtedness for Money Borrowed) of Borrowers.

Standby Letters of Credit as defined in Section 2.10(a).

Standby Letters of Credit means Letters of Credit issued by the applicable Issuing Bank pursuant to this Agreement, the drawing under which does not require the delivery of bills of lading, airway bills or other similar types of documents of title, or which are customarily referred to as "standby letters of credit".

Standby Letters of Credit as defined in subsection 3.1(i).

Standby Letters of Credit means all Letters of Credit other than Commercial Letters of Credit.

Standby Letters of Credit means all irrevocable standby letters of credit pursuant to which Bank agrees to make payments for the account of the Borrower in respect to obligations of Borrower incurred pursuant to contracts made or performance undertaken or to be undertaken or matters relating to contracts to which a Borrower is or proposes to become a party in the ordinary course of its business.