Standby L/C an irrevocable letter of credit under which the Issuing Lender agrees to make payments in Dollars for the account of the Company, on behalf of the Company or any Subsidiary thereof in respect of obligations of the Company or such Subsidiary incurred pursuant to contracts made or performances undertaken or to be undertaken or like matters relating to contracts to which the Company or such Subsidiary is or proposes to become a party in the ordinary course of the Company's or such Subsidiary's business, including, without limiting the foregoing, for insurance purposes or in respect of advance payments or as bid or performance bonds or for any other purpose for which a standby letter of credit might customarily be issued.
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Standby Fee has the meaning defined in Section 2.7.
Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.
Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).
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.
Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).
Facility LC Application is defined in Section 2.19.3.
Evergreen Letter of Credit has the meaning set forth in Section 2.01.
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 any Group Member in the ordinary course of its business.
Supplementary Card means a Card issued by the Bank subject to this Agreement to a Supplementary Cardholder nominated by the Principal Cardholder and at the joint request of the Principal Cardholder and such Supplementary Cardholder; and
Parliamentary privilege means the special rights and immunities which belong to the Assembly, its committees and its members. These rights and immunities enable committees to operate effectively, and enable those involved in committee processes to do so without obstruction, or fear of prosecution.
Letter of Credit means any letter of credit issued pursuant to this Agreement.
Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.
LC Application an application by Borrower Agent to Issuing Bank for issuance of a Letter of Credit, in form and substance satisfactory to Issuing Bank.
Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).
Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.
Reference Bond Dealer means each of five banks which are primary government securities dealers or market makers in pricing corporate bond issuances, as selected by the Calculation Agent in its discretion after consultation with the Issuer;
Supplementary Cardholder means the person who has been issued a Supplementary Card.
Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.
Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.
Master Standby Agreement means the Master Agreement for Standby Letters of Credit dated as of the Closing Date among Borrowers, as Applicant(s), and GE Capital, as issuer.
Documentary draft means a draft to be presented for acceptance or payment if specified documents, certificated securities as defined in section 8102 or instructions for uncertificated securities as defined in section 8102, or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft.
UCP means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce (“ICC”) Publication No. 600 (or such later version thereof as may be in effect at the time of issuance).
Instructional day means a day within the instructional term which meets the following