Support Letter of Credit definition

Support Letter of Credit means an irrevocable standby letter of credit, satisfactory in form to the Administrative Agent, and issued by a bank or other financial institution having upon issuance a senior unsecured long-term debt rating of (a) A- or better from S&P or (b) A3 or better from Xxxxx’x.

Support Letter of Credit has the meaning specified therefor in Section 3.01(a).

Support Letter of Credit means that certain Letter of Credit No. ------------------------ 672917 dated August 23, 1995, issued by INCC for the benefit of The First National Bank of Boston, as agent, for the account of the Company, in the face amount of $1,000,000, expiring June 30, 1996, as from time to time extended, which secures a guaranty by the Company of the Indebtedness of Plains Marketing and its Wholly-Owned Subsidiaries under the Bank of Boston/ING Capital Facility.

Examples of Support Letter of Credit in a sentence

• Dell has become the most successful PC manufacturer by producing “batch orders of one” for individuals; the New York Times allows online members to “create a customized news alert” and Nokia offers interchangeable faceplates to personalize mobile phones.

• Prior to the Initial Disbursement Date, Sponsor Funding in an amount equal to the Equity Amount shall be deposited directly into the Equity Account; provided that an Equity Support Letter of Credit may be provided in lieu of all or a portion of the Equity Amount as provided in Section 11.02(a)(i).

• Each such successor Series 1997-1 Collateral Agent shall provide RFC, each Series 1997-1 Liquidity Lender, the Series 1997-1 Liquidity Agent, the Depositary and the Series 1997-1 Support Letter of Credit Providers with its address, and telephone, telecopy, telex, E-Mail (if applicable) [and TWX numbers], to be used for purposes of Section 9.04 hereof, in a notice complying with the terms of said Section.

• Each Letter of Credit (other than a Credit Support Letter of Credit) shall expire at or prior to the close of business on the earlier of (A) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and (B) the date that is five Business Days prior to the Tranche B Revolving Maturity Date.

• The Support Letter of Credit will be used to support an existing letter of credit issued by the Existing Lender on behalf of the Borrower in connection with the IDA Xxxxx (xx hereinafter defined).

More Definitions of Support Letter of Credit

Support Letter of Credit means a letter of credit in the stated amount of $15,675,000 naming the Administrative Agent for the benefit of the Lenders as the beneficiary, expiring thirty (30) days after the date set forth in clause (i) of the definition of Revolving Commitment Termination Date or issued on an evergreen basis to automatically renew each year unless written notice of the issuing bank’s decision to terminate such letter of credit is given to the Administrative Agent at least 30 days prior to the then effective expiry date of such letter of credit, issued by a Support L/C Bank and otherwise in the form of Exhibit C.

Support Letter of Credit means a letter of credit in favor of the Lender in form and substance satisfactory to the Lender in the amount of $1,500,000 issued by a bank satisfactory to the Lender.

Support Letter of Credit means one or more Letters of Credit in form and substance acceptable to Agent in its Permitted Discretion, issued on behalf of Borrower for the benefit of a Canadian financial institution acceptable to Agent, in its Permitted Discretion, which is making or committing to make loans and other financial accommodations directly to SportDepot, on terms and conditions acceptable to Agent, in its Permitted Discretion."

Support Letter of Credit means any letter of credit issued by the Issuing Bank pursuant to Section 2.23(a) denominated in currency of the United States of America. "Support Letters of Credit" shall mean the collective reference to each Support Letter of Credit.

Support Letter of Credit means a Series 1997-1 Support Letter of Credit or any of the other irrevocable letters of credit or other agreements issued by or entered into by any of the Support Letter of Credit Providers pursuant to the related Support Reimbursement Agreement by which such Support Letter of Credit Provider agrees to reimburse the related Letter of Credit Provider for amounts drawn on the related Letter of Credit, as the same may be amended, supplemented, restated or otherwise modified or substituted or replaced from time to time in accordance with the terms thereof.

Support Letter of Credit means First Union's irrevocable credit in the amount of the LC Maximum Amount issued pursuant to Section 2.01(b) to Wachovia Bank of Georgia, N.A., in form and substance satisfactory to First Union and Wachovia National Bank of Georgia, N.A. in order to obtain the release of the guaranty of Enron Corp. relating to the Wachovia Letter of Credit, with an initial expiration date of no more than 30 days from the date of issue, such expiration date being subject to being extended in additional one month periods at the discretion of First Union.

Support Letter of Credit an irrevocable letter of credit delivered ------------------------ pursuant to Section 8.16 to an Issuing Lender in connection with any Letter of Credit which shall remain outstanding after the termination of this Agreement naming such Issuing Lender as beneficiary thereunder, and which letter of credit shall in all respects be satisfactory to such Issuing Lender and the Collateral Agent.