Working Capital Letter of Credit definition

Working Capital Letter of Credit means a Letter of Credit used for Working Capital Purposes.
Working Capital Letter of Credit shall have the meaning ascribed thereto in Section 3.01(a)(i).
Working Capital Letter of Credit means a Letter of Credit issued under the Working Capital Facility.

Examples of Working Capital Letter of Credit in a sentence

  • Lender shall make the requested funds or Working Capital Letter of Credit available to Borrower at Lender's principal banking office in Houston, Texas.

  • Borrower's requests for advances (whether for cash or Working Capital Letter of Credit) under the Loan shall specify the aggregate amount of the advance and the date of such advance.

  • The Borrower shall repay to the Administrative Agent for the account of the Issuing Banks with a Working Capital Letter of Credit Commitment and each other Working Capital Lender that has made a Working Capital L/C Advance on the Termination Date the outstanding principal amount of each Working Capital L/C Advance made by each of them.

  • On a quarterly basis, Tenant shall have the right to request that Landlord reduce the Working Capital Letter of Credit by the amount of Unreimbursed Working Capital Shortfall.

  • Each month after the applicable Working Capital Letter of Credit has been issued and until the full amount of such Working Capital Letter of Credit has been drawn, Tenant shall certify to Landlord the amount of the Working Capital Shortfall, which certificate shall include written documentation evidencing such Working Capital Shortfall.

  • Tenant and Subtenant shall not create, incur, assume, or permit to exist any indebtedness other than [i] trade debt incurred in the ordinary course of business; [ii] indebtedness relating to the Letter of Credit or Working Capital Letter of Credit; and [iii] indebtedness that is secured by any Permitted Lien.

  • Within the limits of the Working Capital Letter of Credit Facility and subject to the limits referred to above, the Borrower may request the issuance of Working Capital Letters of Credit under this Section 3.01, repay any Working Capital L/C Advance resulting from drawings thereunder pursuant to Section 3.04(b) and request the issuance of additional Working Capital Letters of Credit under this Section 3.01.

  • Upon the drawing of any Working Capital Letter of Credit for which funds are on deposit in the Working Capital L/C Cash Collateral Account, such funds shall be applied to reimburse the Issuing Banks, to the extent permitted by applicable law.

  • If a Notice of Termination is given by any Issuing Bank pursuant to the immediately preceding sentence, such Working Capital Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed.

  • The Working Capital Letter of Credit shall comply with all of the terms and conditions applicable to the Letter of Credit, and shall be in a form acceptable to Landlord.


More Definitions of Working Capital Letter of Credit

Working Capital Letter of Credit means a Letter of Credit used for Working Capital Purposes. “Working Capital Loan” means a loan made by a Senior Lender pursuant to Section 2.03 (Borrowing of Working Capital Loans). “Working Capital Loan Borrowing” means a borrowing of a Working Capital Loan pursuant to Section 2.03 (Borrowing of Working Capital Loans). “Working Capital Purposes” means either (a) Gas Working Capital Purposes or (b) General Working Capital Purposes, as applicable. “Working Capital Sublimit” means seven hundred forty million Dollars ($740,000,000), as the same may be increased from time to time in accordance with Section 2.05 (Incremental Commitments).
Working Capital Letter of Credit is defined in Section 2.2.1.
Working Capital Letter of Credit means for each Development Project, the Letter of Credit provided to Landlord at the time of the issuance of the C of O for such Development Project in an amount to be calculated by Landlord in accordance with the terms of the Term Sheet.
Working Capital Letter of Credit means a Letter of Credit issued under Section 2.03(a)(i).

Related to Working Capital Letter of Credit

  • Working Capital Lender means any Lender that has a Working Capital Commitment.

  • Working Capital Loan has the meaning specified in Section 2.1(c).

  • Working Capital Facility means, at any time, the aggregate amount of the Working Capital Lenders' Working Capital Commitments at such time.

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

  • Working Capital Loans means any loan made to Acquiror by any of the Sponsor, an Affiliate of the Sponsor, or any of Acquiror’s officers or directors, and evidenced by a promissory note, for the purpose of financing costs incurred in connection with a Business Combination.

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

  • 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.

  • 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.

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

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

  • 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.

  • Working Capital Advance has the meaning specified in Section 2.01(c).

  • 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.

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

  • Working Capital Borrowings means borrowings incurred pursuant to a credit facility, commercial paper facility or similar financing arrangement that are used solely for working capital purposes or to pay distributions to the Partners; provided that when such borrowings are incurred it is the intent of the borrower to repay such borrowings within 12 months from the date of such borrowings other than from additional Working Capital Borrowings.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • 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).

  • 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.

  • Working Capital Reserve shall have the meaning set forth in the Partnership Agreement.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter 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.

  • 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.

  • 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.

  • 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 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.

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).