Unsecured Letter of Credit definition

Unsecured Letter of Credit means a Letter of Credit which is not a Secured Letter of Credit.
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Unsecured Letter of Credit means a Letter of Credit which is not a Secured Letter of Credit. “U.S. Bank Fee Letter” means that certain letter agreement, dated as of July 24, 2020, among the Borrower and U.S. Bank National Association. “U.S. Government Debt Securities” means direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States (or by any 27 13227198v7 27112.00011
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Unsecured Letter of Credit means each Letter of Credit designated as an Unsecured Letter of Credit by the Administrative Agent pursuant to Section 2.3(m)(ii).
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Examples of Unsecured Letter of Credit in a sentence

  • Unsecured Letter of Credit Facility The Company has a $70 million unsecured demand revolving letter of credit facility (the "LC Facility") with a Canadian bank.

  • Includes available credit under Athabasca's Credit Facility and Unsecured Letter of Credit Facility.

  • Includes available credit under Athabasca's Credit Facility and Unsecured Letter of Credit Facility (see page 14).

  • Unsecured Letter of Credit Facility Paramount has a $40 million unsecured demand revolving letter of credit facility (the "LC Facility") with a Canadian bank under which $36.3 million of letters of credit were outstanding at March 31, 2020.

  • Unsecured Letter of Credit Facility The Company has a $90 million unsecured demand revolving letter of credit facility (the "LC Facility") with a Canadian bank.

  • Unsecured Letter of Credit Facility In 2019, Paramount entered into a new $40 million unsecured demand revolving letter of credit facility (the "LC Facility") with a Canadian bank.

  • Unsecured Letter of Credit Facility During the third quarter, Paramount entered into a new $40 million unsecured demand revolving letter of credit facility (the "LC Facility") with a Canadian bank.

  • Unsecured Letter of Credit Facility Athabasca maintains a $30.0 million unsecured letter of credit facility (the "Unsecured Letter of Credit Facility") with a Canadian bank which is supported by a performance security guarantee from Export Development Canada.

  • Unsecured Letter of Credit Facility At June 30, 2020, Paramount had a $40 million unsecured demand revolving letter of credit facility (the "LC Facility") with a Canadian bank under which $39.2 million in letters of credit were outstanding.

  • When it is determined that the facility is endangering the health and safety of persons receiving services, the probationary license will be canceled by the AHCA.


More Definitions of Unsecured Letter of Credit

Unsecured Letter of Credit means each Letter of Credit issued and outstanding as of May 13, 2008 (including any renewals and substitutions thereof (but not increases), which substitutions are reasonably acceptable to Administrative Agent and the applicable Issuing Bank), and listed on Schedule 3.9.
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Unsecured Letter of Credit means, at any time, a Letter of Credit that has been designated as such in the relevant Utilisation Request or pursuant to Clause 9.1 (Redesignation of Letters of Credit).
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Unsecured Letter of Credit means each Existing Letter of Credit.
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Unsecured Letter of Credit means a Letter of Credit which is not a Secured Letter of Credit. “U.S. Government Debt Securities” means direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States). “U.S. Government Securities Business Day” means any Business Day, except any Business Day on which any of the Securities Industry and Financial Markets Association, the New York Stock Exchange or the Federal Reserve Bank of New York is not open for business because such day is a legal holiday under the federal laws of the United States or the laws of the State of New York, as applicable. “U.S. Person” means any Person that is a “United States person” as defined in Section 7701(a)(30) of the Code. “U.S. Tax Compliance Certificate” has the meaning specified in Section 3.01(g). “Xxxxx Fargo Fee Letter” means that certain letter agreement, dated as of March 8, 2024, among the Borrower and Xxxxx Fargo Securities, LLC. “Wholly-Owned Subsidiary” when used to determine the relationship of a Subsidiary to a Person, means a Subsidiary all of the issued and outstanding Equity Interests (other than directors’ qualifying shares) of which shall at the time be owned by such Person or one or more of such Person’s Wholly-Owned Subsidiaries or by such Person and one or more of such Person’s Wholly- Owned Subsidiaries. “Withholding Agent” means any Loan Party and the Administrative Agent. “Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislatio...
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Unsecured Letter of Credit means any Letter of Credit issued hereunder that is not secured by Xxxxxxxxxx.
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Unsecured Letter of Credit means any Letter of Credit Issued hereunder that is not secured by Collateral. “Wells Fargo” has the meaning specified in the recital of parties to this Agreement.
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Related to Unsecured Letter of Credit

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

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

  • 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.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • 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.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • 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 obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(a).

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

  • 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.

  • 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.

  • 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.

  • 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.

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

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • 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.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • 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.

  • Auto-Reinstatement Letter of Credit has the meaning specified in Section 2.03(b)(iv).

  • 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 Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).