Documentary Letter of Credit definition

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 any Group Member in the ordinary course of its business.

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 any of its Subsidiaries in the ordinary course of its business.

Documentary Letter of Credit means any Letter of Credit that is a documentary letter of credit.

Examples of Documentary Letter of Credit in a sentence

• Re: Your Irrevocable and Unconditional Documentary Letter of Credit No. Dated , 20 To Whom It May Concern: Reference is made to your Irrevocable and Unconditional Documentary Letter of Credit no.

• This demand is made under, and is subject to and governed by, your Irrevocable and Unconditional Documentary Letter of Credit no.

• Re: Irrevocable and Unconditional Documentary Letter of Credit No. Dated , 20 To Whom It May Concern: Demand is hereby made upon you for payment to us of $ by deposit to our account no.

• The rates of the margins applicable to Prime Rate Loans, US Base Rate Loans, Libor Loans and the rates of the Acceptance fees, standby fees, Financial Letter of Credit fees Non-Financial Letter of Credit fees and Documentary Letter of Credit fees under the Facilities (the “Rates”) will be determined as set forth in this Schedule.

• Payment shall be made by: Revolving Documentary Letter of Credit, Transferable, Irrevocable and Confirmed by top 50 Prime Bank payable 100% at sight upon presentation of relevant POP, SGS Inspection and shipping documents The Letter of Credit documents shall be negotiable and payable at the Buyer’s Bank.

More Definitions of Documentary Letter of Credit

Documentary Letter of Credit means a Letter of Credit which requires that the drafts thereunder be accompanied by a document of title covering or securing title to the goods acquired with the proceeds of such drafts.

Documentary Letter of Credit means a commercial letter of credit qualifying as a trade-related contingency under 12 CFR Part 3, Appendix A, Section 3(b)(3) or any successor U.S. Comptroller of the Currency regulation.

Documentary Letter of Credit means a documentary Letter of Credit issued in respect of the purchase of goods or services by any Borrower Party in the ordinary course of its business.

Documentary Letter of Credit means a letter of credit issued pursuant to this Credit Agreement that supports payment or performance for a single identified purchase or exchange of products in the ordinary course of business of the Company or its Subsidiaries.

Documentary Letter of Credit means a letter of credit which is a short term, self-liquidating trade-related contingency.

Documentary Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Sublimit in support of trade obligations incurred in the ordinary course of business and that includes, as a condition to drawing thereunder, the presentation to the Issuing Bank of negotiable bills of lading, invoices and related documents sufficient, in the judgment of the Issuing Bank, to create a valid and perfected security interest in the goods covered thereby.

Documentary Letter of Credit has the meaning specified in Section 2.07(b).