Unsecured Letter of Credit definition

Unsecured Letter of Credit means a Letter of Credit which is not a Secured Letter of Credit.

Unsecured Letter of Credit means a Letter of Credit that is not a Secured Letter of Credit.

Unsecured Letter of Credit means any Letter of Credit issued hereunder that is not secured by Xxxxxxxxxx.

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.

• Each Loan Party may from time to time, in its sole discretion, but subject to the provisions of this Section, elect to redesignate as an Unsecured Letter of Credit a Letter of Credit which was initially issued as a Secured Letter of Credit issued for such Loan Party’s account.

• From and after the date of such release, the applicable Letter of Credit shall be deemed to be an Unsecured Letter of Credit for all purposes hereof, including without limitation for purposes of determining the amount of the Letter of Credit Fee payable with respect thereto pursuant to Section 2.03(i).

• Unsecured Letter of Credit Facility In the fourth quarter of 2018, Athabasca entered into a $25.0 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 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.

More Definitions of Unsecured Letter of Credit

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 September 3, 2021, among the Borrower and U.S. Bank National Association.

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.

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).

Unsecured Letter of Credit means each Existing Letter of Credit.

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...

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).

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.