Honor Date Clause Samples
The Honor Date clause specifies the exact date on which a financial instrument, such as a letter of credit or a promissory note, must be honored or paid by the obligated party. In practice, this means that the issuer or payer is required to fulfill their payment obligation on or after the stated date, regardless of when the demand for payment is made. This clause ensures certainty for both parties by clearly defining when payment is due, thereby preventing disputes over timing and ensuring smooth financial transactions.
Honor Date. See Section 4.1.3.
Honor Date. See §3.3(a) hereof. Indebtedness As to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:
Honor Date. If the Borrower fails to reimburse such L/C Issuer on the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT") shall bear interest at the Base Rate plus the Base Rate Margin, and if not reimbursed within such three Business Days thereafter, at the Default Rate, payable on demand.