Xxxxx Fargo Letters of Credit definition

Xxxxx Fargo Letters of Credit means those certain letters of credit issued during the Xxxxx Fargo LC Period by Xxxxx Fargo for the account of Borrowers pursuant to the Xxxxx Fargo Standby Letter of Credit Agreement, but solely to the extent required by the beneficiary thereof in order for Borrowers to receive value added tax refunds from the Italian government; provided, however, that the aggregate face value of all such letters of credit may not exceed (i) $3,000,000 at any time on or prior to December 31, 2021, or (ii) $0 at any time after December 31, 2021.
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Xxxxx Fargo Letters of Credit mean the letters of credit described in Schedule 6.01(q) and issued by Xxxxx Fargo.
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Xxxxx Fargo Letters of Credit means the standby Letters of Credit issued by the Bank on the Closing Date to support the Xxxxx Fargo L/Cs.
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Examples of Xxxxx Fargo Letters of Credit in a sentence

  • In the event that the Borrowers and Xxxxx Fargo and/or the Borrowers and Citizens Bank, enter into any cash collateral or other arrangements with respect to the Xxxxx Fargo Letters of Credit or the Citizens Bank Letters of Credit (as applicable), such arrangements shall be satisfactory to the Agents.

  • The Xxxxx Fargo Letters of Credit shall be used solely for the purposes described in the definition of such term in Section 1 of this Agreement.

  • On and after the Closing Date, the Existing Xxxxx Fargo Letters of Credit shall be deemed for all purposes, including for purposes of the fees to be collected pursuant to subsection 3.2, and reimbursement of all costs and expenses to the extent provided herein, to be Letters of Credit outstanding under this Agreement and entitled to the benefits of this Agreement and the other Loan Documents, and shall be governed by the applications and agreements pertaining thereto and by this Agreement.

  • As of the Closing Date, each of the Existing Comerica Letters of Credit and Existing Xxxxx Fargo Letters of Credit shall constitute, for all purposes of this Agreement and the other Loan Documents, a Letter of Credit issued and outstanding hereunder; provided, however, the Borrower shall use commercially reasonable efforts to, as soon as reasonably practicable, either replace with a new Letter of Credit issued by Xxxxx Fargo hereunder or terminate each Existing Comerica Letter of Credit.


More Definitions of Xxxxx Fargo Letters of Credit

Xxxxx Fargo Letters of Credit has the meaning set forth in Section 8.03(j).
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Related to Xxxxx Fargo Letters of Credit

  • 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.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • Letters of Credit as defined in Section 3.1(a).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • 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.

  • 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.

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

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • 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.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • 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.

  • 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.

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

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

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

  • 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.

  • 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.

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • 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.

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • 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.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • 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.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.