Undrawn Letters of Credit definition

Undrawn Letters of Credit means, as of any date, the aggregate amount that Vitol may draw as of such date under all outstanding standby letters of credit in form and substance reasonably satisfactory to Vitol, in favor of Vitol, issued or confirmed by banks reasonably acceptable to Vitol then held by Vitol as credit support for the performance of Coffeyville’s obligations hereunder; provided that, for purposes of this definition, the available amount under any outstanding standby letter of credit that expires 30 days or less after such date shall be deemed to be zero.
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Undrawn Letters of Credit that portion of the Unexpired Letters of Credit that have not been presented for payment nor paid by the Issuing Bank.
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Undrawn Letters of Credit means, as of any date, the aggregate amount that Vitol may draw as of such date under all outstanding standby letters of credit in form and substance reasonably satisfactory to Vitol, in favor of Vitol, issued or confirmed by banks reasonably acceptable to Vitol then held by Vitol as credit support for the performance of Coffeyville’s obligations hereunder; provided that, for purposes of this definition, the available amount under any outstanding standby letter of credit that expires 30 days or less after such date shall be deemed to be zero. “Vitol” has the meaning set forth in the preamble to this Agreement. “Vitol Guaranty” means the guaranty issued by Vitol’s parent entity, Vitol Holdings BV, in the form attached hereto as Exhibit C. “Weekly True-Up Payment” has the meaning set forth in Section 12.3. “Working Capital Balance” means for each day in the applicable Working Capital Period, the cumulative balance during such Working Capital Period, calculated as the difference between (i) the amount of cash received from Coffeyville for the purchase of Crude Oil and (ii) the amount of cash expended by Vitol to purchase Crude Oil for Coffeyville during such Working Capital Period. It is the intention of the Parties that the Working Capital Balance shall be calculated as a running balance and that a negative balance shall indicate that more money was expended by Vitol during such period than
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Examples of Undrawn Letters of Credit in a sentence

  • Section 9.4. Collateral for Undrawn Letters of Credit Section 9.5. Notice of Default Section 10.

  • Events of Default and Remedies 95 Section 8.1. Events of Default 95 Section 8.2. Non‑Bankruptcy Defaults 97 Section 8.3. Bankruptcy Defaults 98 Section 8.4. Collateral for Undrawn Letters of Credit 98 Section 8.5. Post‑Default Collections 99 Section 8.6. Implementation of CAM 100 Section 9.

  • EVENTS OF DEFAULT AND REMEDIES 75 Section 7.1. Events of Default 75 Section 7.2. Non Bankruptcy Defaults 76 Section 7.3. Bankruptcy Defaults 77 Section 7.4. Collateral for Undrawn Letters of Credit 77 Section 7.5. Notice of Default 78 Section 7.6. Equity Cure 78 SECTION 8.

  • EVENTS OF DEFAULT AND REMEDIES 98 Section 7.1 Events of Default 98 Section 7.2 Non Bankruptcy Defaults 100 Section 7.3 Bankruptcy Defaults 100 Section 7.4 Collateral for Undrawn Letters of Credit 101 Section 7.5 Notice of Default 101 Section 7.6 Equity Cure 101 ARTICLE 8.

  • Section 8.3. Collateral for Undrawn Letters of Credit...............

  • The degree of compaction achieved in the field should be checked by in-place density tests.

  • Events of Default and Remedies 87 Section 9.1. Events of Default 87 Section 9.2. Non-Bankruptcy Defaults 89 Section 9.3. Bankruptcy Defaults 90 Section 9.4. Collateral for Undrawn Letters of Credit 90 SECTION 10.

  • A Local Incentive Scheme has also been put in place for the patients of Stannington Medical Centre.

  • Events of Default and Remedies 78 Section 9.1. Events of Default 78 Section 9.2. Non-Bankruptcy Defaults 80 Section 9.3. Bankruptcy Defaults 81 Section 9.4. Collateral for Undrawn Letters of Credit 81 Section 10.

  • EVENTS OF DEFAULT AND REMEDIES 84 Section 9.1. Events of Default 84 Section 9.2. Non‑Bankruptcy Defaults 86 Section 9.3. Bankruptcy Defaults 87 Section 9.4. Collateral for Undrawn Letters of Credit 87 Section 9.5. Post‑Default Collections 88 SECTION 10.

Related to Undrawn Letters of Credit

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

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Letters of Credit as defined in Section 3.1(a).

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • 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 Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • 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.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • 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 Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • 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 means a Letter of Credit issued hereunder.

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

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

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

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

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.