US Tranche Letter of Credit definition

US Tranche Letter of Credit means any letter of credit issued under the US Tranche Commitments pursuant to this Agreement.
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US Tranche Letter of Credit means a Letter of Credit denominated in Dollars.
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US Tranche Letter of Credit means a Letter of Credit designated as such by the Company in accordance with Section 2.06.
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Examples of US Tranche Letter of Credit in a sentence

  • Not later than (x) 11:00 a.m. on the date of any payment by the L/C Issuer under a U.S. Tranche Letter of Credit to be reimbursed in Dollars and (y) the Applicable Time on the date of any payment by the L/C Issuer under an Alternative Currency Tranche Letter of Credit to be reimbursed in an Alternative Currency (each such date, an “Honor Date”), the Borrower shall reimburse the L/C Issuer through the Administrative Agent in Dollars or in the applicable Alternative Currency, as the case may be.

  • In the case of a U.S. Tranche Letter of Credit, the Borrower shall reimburse the L/C Issuer through the Administrative Agent in Dollars.

  • Additionally, no Issuing Bank shall be under any obligation to issue or renew any Letter of Credit if the Letter of Credit is to be denominated in a currency other than (A) US Dollars (in the case of a US Tranche Letter of Credit) or (B) US Dollars or Canadian Dollars (in the case of a Canadian Tranche Letter of Credit) unless otherwise agreed by the Issuing Bank and the Administrative Agent.

  • On the Effective Date, each Existing Letter of Credit shall be deemed to be a US Tranche Letter of Credit for all purposes hereof and shall be deemed to have been issued hereunder on the Effective Date.

  • Each Existing Letter of Credit shall expire on its stated expiry date as in effect on the Effective Date and may not be renewed or extended, but may be replaced with the issuance of a new US Tranche Letter of Credit issued by JPMorgan Chase Bank, N.A., as Issuing Bank.

  • All reporting from each Issuing Bank with respect to any Letter of Credit shall indicate whether each Letter of Credit constitutes a U.S. Tranche Letter of Credit or a European Tranche Letter of Credit.

  • If the applicable Borrowers fail to make such payment when due, the Administrative Agent shall notify each U.S. Tranche Lender (in the case of a U.S. Tranche Letter of Credit), or each European Tranche Lender (in the case of a European Tranche Letter of Credit), in each case of the applicable LC Disbursement, the payment then due from the applicable Borrowers in respect thereof and such Lender’s Applicable Percentage thereof.

  • Additionally, no Issuing Bank shall be under any obligation to issue or renew any Letter of Credit if the Letter of Credit is to be denominated in a currency other than (A) US Dollars (in the case of a US Tranche Letter of Credit) or (B) an Approved Currency (in the case of a Multicurrency Tranche Letter of Credit).

  • Each U.S. Tranche Letter of Credit shall be issued in U.S. Dollars for the account of a U.S. Borrower.

  • From and after the US Tranche Effective Date, each Existing Letter of Credit, as set forth in Schedule 2.05, shall be deemed to be a US Tranche Letter of Credit for all purposes hereof and shall be deemed to have been issued hereunder on the US Tranche Effective Date.


More Definitions of US Tranche Letter of Credit

US Tranche Letter of Credit any letter of credit issued pursuant to this Agreement under the US Revolving Credit Facility.
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US Tranche Letter of Credit means any letter of credit issued under the US Tranche Commitments pursuant to this
Sample 1
US Tranche Letter of Credit means a letter of credit issued under the U.S. Tranche pursuant to Section 2.06 hereof.
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Related to US Tranche Letter of Credit

  • 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.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate Available Amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all payments or disbursements made by an Issuing Bank pursuant to a Letter of Credit Advance that have not yet been reimbursed at such time.

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

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

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