Usance Letter of Credit definition

Usance Letter of Credit means a deferred payment letter of credit payable at a determined future date after presentation of conforming documents;
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Usance Letter of Credit means a Commercial Letter of Credit under which drafts are payable other than at sight.
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Usance Letter of Credit means a Commercial Letter of Credit pursuant to which a time draft, payable by its terms not more than 90 days from the date thereof, is to be presented to the Issuing Bank for acceptance by such Issuing Bank.
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Examples of Usance Letter of Credit in a sentence

  • Vendors of set-top boxes and outdoor units have adopted an extended payment term of 36 months (“vendor financing”) on Usance Letter of Credit Payable at Sight (“ULCP”) basis to the Group.

  • The Group acquired set-top boxes and outdoor units with an extended payment term of 36 months (“vendor financing”) via Usance Letter of Credit Payable at Sight (“ULCP”) facilities granted to the Group.

  • Vendors of set-top boxes and outdoor units have adopted an extended payment term of 36 months (“vendor financing”) on Usance Letter of Credit Payable at Sight (“ULCP”) and Promissory Notes (“PN”) basis to the Group.

  • Vendors of set-top boxes and outdoor units have granted an extended payment term of 36 months (“vendor financing”) on Usance Letter of Credit Payable at Sight (“ULCP”) and Promissory Notes (“PN”) basis to the Group.

  • Vendors of set-top boxes and outdoor units have granted an extended payment terms of 24 and 36 months (“vendor financing”) on Usance Letter of Credit Payable at Sight (“ULCP”) and Promissory Notes (“PN”) basis to the Group.

  • Each Advance shall be used by Borrower to pay for Drawings under any Letter of Credit issued pursuant to this Section 2.1. Borrower shall repay the aggregate amount of each Advance within 90 days from the date of the making of any such Advance and each Advance for a Usance Letter of Credit shall be repaid in not more than 90 days less the number of days financed by vendor.

  • Purchase of Usance Draft under Usance Letter of Credit PL52330 ii).

  • Upon (x) each payment under a Letter of Credit, (y) each acceptance of a draft under a Usance Letter of Credit, and (z) any amendment of a Letter of Credit changing the amount or expiry date thereof, the Issuing Bank of such Letter of Credit shall promptly notify Administrative Agent of such event.

  • The mode of payment of sale amount shall be through advance payment in e-mode or Usance Letter of Credit (LC) with maximum usance period of 180 days through first class bank within 03 (three) working days from the date of receipt of Nalco’s sales confirmation.

  • Pre-Shipment Financing with total principal maximum of USD 3,000,000 and interest rate 3% per annum.b. Sight L/C Impor or SKBDN with total principal maximum of USD 5,000,000.c. Usance Letter of Credit (L/C) Impor/SKBDN with total principal maximum of USD 5,000,000.


More Definitions of Usance Letter of Credit

Usance Letter of Credit as defined in Section 3.1(a).
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Usance Letter of Credit means any letter of credit issued by an Issuing Bank pursuant to Section 2.04 for the account of the Borrowers, which is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by any Borrower in the ordinary course of its business and honored by the Issuing Bank's delivery of time drafts payable no more than sixty days from the date of delivery thereof.
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Related to Usance Letter of Credit

  • 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.

  • 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.

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

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

  • 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.

  • 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.

  • 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.

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

  • 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.

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

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

  • 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.

  • Facility LC Application is defined in Section 2.19.3.

  • 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.

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

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

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

  • 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.

  • 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.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • 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.

  • 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.

  • 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.

  • 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.

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