Third Party Letter of Credit definition

Third Party Letter of Credit means a standby letter of credit issued, or to be issued, for the account of any Restricted Party by a Third Party LC Issuer pursuant to Third Party LC Documents.
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Third Party Letter of Credit means a Letter of Credit other than an Intercompany Letter of Credit.
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Third Party Letter of Credit means letters of credit issued for the account of Holdings or any of its Subsidiaries (in support of obligations permitted by this Agreement) by BNP Paribas and with respect to which an Approved Third Party Credit Provider is subject to a reimbursement or similar obligation and/or has pledged cash or Cash Equivalents in support thereof.”
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Examples of Third Party Letter of Credit in a sentence

  • In reality, each Third Party Letter of Credit Agreement addressed only: (i) Bronwen’s agreement to provide the Letters of Credit; (ii) SAG, Inc.’s agreement to share liability for the Letters of Credit; and (iii) SAG, Inc.’s transfer of its rights and obligations under the contracts.

  • Those Third Party Letter of Credit Agreements, SMIL claims, made Bronwen an agent for SAG, Inc.SAG, Inc.

  • Any Third Party Letter of Credit shall reduce the availability of the Revolving Credit Amount as though the Bank issued the Letter of Credit directly for so long as such Third Party Letter of Credit remains outstanding.

  • Soup Kitchens and Regularly Scheduled Mobile Food VansIncludes soup kitchens that offer meals organized as food service lines, bagged or box lunches for people experiencing homelessness, and street locations where mobile food vans regularly stop to provide food to people experiencing homelessness.

  • The Co-Borrowers' joint and several obligations to repay any liabilities incurred by the Bank under any Third Party Letter of Credit shall be evidenced by the Amended and Restated Revolving Credit Note dated of even date herewith from the Co-Borrowers in favor of the Bank.

  • BNP Paris moved to dismiss these claims on the basis that: (i) the Third Party Letter of Credit Agreements contain a forum selection clause; and (ii) there is prior pending litigation in Paris based upon the same claims.


More Definitions of Third Party Letter of Credit

Third Party Letter of Credit has the meaning assigned in Section 5.13 hereof.
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Third Party Letter of Credit means an Ultimate Letter of Credit issued by a Third Party LC Issuing Bank. “Total Commitments” means the aggregate of the Commitments of the Lenders.
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Related to Third Party Letter of Credit

  • 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.

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

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

  • 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.

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

  • 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.

  • 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.

  • 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.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

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

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

  • 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.

  • 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.

  • Performance Letter of Credit means any standby Letter of Credit which represents an irrevocable obligation to the beneficiary on the part of the Issuing Bank to make payment on account of any default by the account party in the performance of a nonfinancial or commercial obligation.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • 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.

  • 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.

  • 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).

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

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • 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.

  • 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.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

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