Xxxxx Letter of Credit definition

Xxxxx Letter of Credit has the meaning set forth in clause (z) of the definition of “Permitted Indebtedness”.
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Xxxxx Letter of Credit means that certain Irrevocable Letter of Credit No. 2253/97/00000 issued by The Bank of Nova Scotia in favor of Bretlin, Inc. in the original amount of $1,075,161.29, as the same may be renewed, extended, amended or replaced.
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Xxxxx Letter of Credit means that certain Irrevocable Standby Letter of Credit, dated and effective September 18, 2018, by and between the Company and Xxxxx Fargo.
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Examples of Xxxxx Letter of Credit in a sentence

  • Subject to the application therefor of the funds to be obtained in the financings being provided under the Financing Documents, the Sellers shall have cash collateralized the Xxxxx Letter of Credit in accordance with Section 8.10.

  • Each Xxxxx Letter of Credit, as of the Fourth Amendment Effective Date, shall be a Letter of Credit deemed to have been issued pursuant to the Commitments and shall constitute a portion of the Letter of Credit Exposure.

  • Each Lender hereby agrees to irrevocably and automatically purchases participation interest in such Xxxxx Letter of Credit upon the date of issuance thereof and in an draw paid pursuant to such Xxxxx Letter of Credit in accordance with subsection (b) above.

  • If, however, the state certifying agency issued a procedurally defective decision on the 335th day (assuming it had one year to act), GPA Midstream does not oppose the agency using the additional 30 days of the time period to cure the deficiency.

  • Notwithstanding the foregoing, with respect to the Xxxxx Letter of Credit, if the Borrower's reimbursement obligations for such draft arise under Section 2A(i) of the Xxxxx Reimbursement Agreement, the Administrative Agent shall give immediate notice to each of the Lenders of such payment by the Administrative Agent.

  • The Bond Letter of Credit Fee shall be payable by the Borrower monthly, in arrears, commencing on Fifth Amendment Effective Date and continuing thereafter on the last day of each succeeding calendar month and on the Revolving Loan Termination Date (or such earlier date on which the Xxxxx Letter of Credit or the Lenders' participation therein shall be terminated).

  • Upon any such Existing Xxxxx Letter of Credit so becoming a Letter of Credit hereunder, Xxxxx Fargo Bank, National Association, as Issuing Bank in respect of such Letter of Credit, will provide notice thereof to the Administrative Agent, including the amount of such Letter of Credit and the then applicable expiry date thereof.

  • In the event of any conflict between the provisions regarding Letters of Credit in this Agreement and any provisions in the Letter of Credit Letter Agreement, the provisions set forth in the Letter of Credit Letter Agreement shall govern with respect to the Xxxxx Xxxxx Letter of Credit.

  • The Bond Letter of Credit Fee shall be payable by the Borrower quarterly, in arrears, commencing on June 30, 1998 and continuing thereafter on the last day of each succeeding calendar quarter and on the Revolving Loan Termination Date (or such earlier date on which the Xxxxx Letter of Credit or the Lenders' participation therein shall be terminated).


More Definitions of Xxxxx Letter of Credit

Xxxxx Letter of Credit means that certain Letter of Credit issued for the account of Borrower by Xxxxx Fargo Bank for the benefit of the Port Authority of New York and New Jersey in the original face amount of $1,000,000.
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Xxxxx Letter of Credit means that certain Irrevocable Standby Letter of Credit Number 0000000 issued by Bank of America, N.A. on August 27, 2007 in favor of ED in the face amount of $15,772,985, as amended.
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Xxxxx Letter of Credit means that certain Letter of Credit issued for the account of Borrower by Xxxxx Fargo Bank for the benefit of the State of Pennsylvania in the original face amount of $5,000,000.”
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Related to Xxxxx Letter of Credit

  • 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.

  • 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.

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

  • 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.

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

  • 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).

  • 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.

  • 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.

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

  • 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.

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

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

  • 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.

  • 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.

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

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

  • 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.

  • 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.

  • 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 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.

  • 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.

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

  • 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.

  • 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.