Financial LC definition

Financial LC means a stand-by letter of credit or letter of guarantee if it serves as a payment guarantee of the Borrower's financial obligations and is treated as a direct credit substitute for purposes of the Capital Adequacy Guidelines.
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Financial LC means any Letter of Credit (other than a Performance LC) that represents an irrevocable obligation on the part of the issuer (a) to repay money borrowed by or advanced to or for the account of the Borrower or a Subsidiary or (b) to make payment on account of any Indebtedness undertaken by the Borrower or a Subsidiary, in the event that the Borrower or Subsidiary fails to fulfill its obligation to the beneficiary.
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Financial LC means a standby letter of credit or bank guarantee under which the beneficiary is entitled to draw thereon in the event that the account party (or the Person or Persons on whose behalf such letter of credit or bank guarantee was issued) fails to perform a financial obligation.
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Examples of Financial LC in a sentence

  • Accordingly, no assurance can be given that persons who subscribe to shares of common stock in the subscription offering will thereafter be able to buy or sell such shares at the same price paid in the subscription offering.Sincerely,RP Financial, LC.

  • The letter of RP Financial, LC., has no binding effect on the IRS.

  • North Glebe Road, Suite 1100Fax No.: (703) 528-1788Arlington, VA 22201 Toll-Free No.: (866) 723-0594www.rpfinancial.com E-Mail: mail@rpfinancial.com RP Financial, LC.

  • In the event SNL Financial LC ceases to publish the SNL Index, the Committee will engage an independent compensation consultant to assist the Committee in selecting a new bank index or bank peer group for purposes of determining if a Performance Goal has been met.

  • In addition, Counsel is relying on a letter from RP Financial, LC.

  • STRONG POSITION IN ATTRACTIVE MARKETS 5 Source: SNL Financial LC.

  • The estimated pro forma market value will be determined by RP Financial, LC, an independent appraiser.

  • Our conclusion is supported by a letter from RP Financial, LC, which states that the subscription rights do not have any value when they are distributed or exercised.

  • Accordingly, no assurance can be given that persons who subscribe to shares of common stock in the subscription offering will thereafter be able to buy or sell such shares at the same price paid in the subscription offering.Sincerely,/s/ RP Financial, LC.RP Financial, LC.

  • This assumption is based upon your representation and the opinion of R P Financial, LC that such Subscription Rights have no fair market value because they will be acquired by recipients without cost, are nontransferable and afford the recipients the right only to purchase Conversion Shares at a price equal to its estimated fair market value as of the date such rights are issued, which will be the same price paid by all purchasers in the Conversion.

Related to Financial LC

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

  • Commercial LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding commercial Letters of Credit plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers. The Commercial LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Commercial LC Exposure at such time.

  • Letter of Credit Liabilities means, for any Lender and at any time, such Lender’s ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letter of Credit Liability means, without duplication, at any time and in respect of any Letter of Credit, the sum of (a) the undrawn face amount of such Letter of Credit, plus (b) the aggregate unpaid principal amount of all Reimbursement Obligations of Borrower at such time due and payable in respect of all drawings made under such Letter of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Facility LC is defined in Section 2.19.1.

  • Account Party has the meaning specified therefor in Section 2.11(h) of this Agreement.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.

  • Fronting Fee shall have the meaning provided in Section 4.1(c).

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

  • Credit Provider means a Person providing Credit Link Documents, in form and substance acceptable to the Administrative Agent in its sole discretion, of the obligations of an Investor to make Capital Contributions.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Letter of Credit Fees shall have the meaning set forth in Section 3.2.

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

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Letter of Credit Fee has the meaning specified in Section 2.03(h).

  • Facility LC Application is defined in Section 2.19.3.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Letter of Credit Report means a certificate substantially the form of Exhibit H or any other form approved by the Administrative Agent.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

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