A Letter of Credit definition

A Letter of Credit shall have the meaning provided in Section 1A.01(a).
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A Letter of Credit means that certain $4,500,000.00 letter of credit posted by SGI with respect to the A Lease and currently held by A/B Landlord.
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A Letter of Credit means the Irrevocable Letter of Credit No. 839-53422 issued on June 8, 1995 in favor of the NFC Collateral Agent for the account of the A Support Credit Enhancers by the A Credit Enhancer, as amended by Amendment No. 1 to Irrevocable Letter of Credit, dated April 30, 1996, Amendment No. 2 to Irrevocable Letter of Credit, dated May 29, 1996, and Amendment No. 3 to Irrevocable Letter of Credit, dated December 20, 1996, and as the same may be further amended, supplemented or otherwise modified from time to time in accordance with the terms thereof, and any replacement thereof.
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Examples of A Letter of Credit in a sentence

  • A Letter of Credit may be included in determining the Net Worth (assets less liabilities) of the contractor for the purposes of prequalification with the District.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $15,000,000 and (ii) the total Revolving Exposures shall not exceed the total Revolving Commitments.

  • A Letter of Credit posted by a Participant as collateral must satisfy all of the requirements below.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Commitments.

  • Given the difficulty of separating the impact of one state from another, stronger international cooperation may be the only way to ensure accountability.

  • A Letter of Credit Issuer may resign as Letter of Credit Issuer upon 60 days’ prior written notice to the Administrative Agent, the Lenders and the Borrower.

  • A Letter of Credit issued by a Foreign Bank, but ‘Confirmed’ by a Commercial Bank operating in Sri Lanka.

  • A Letter of Credit where the event which triggers payment is financial, such as the failure to pay money, and not performance-related, such as failure to ship a product or provide a service, as set forth in greater detail in the letter dated March 30, 1995 from the Board of Governors of the Federal Reserve System or in any applicable directive or letter ruling of the Board of Governors of the Federal Reserve System issued subsequent thereto.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed $10,000,000 and (ii) the aggregate Revolving Exposures shall not exceed the aggregate Revolving Commitments.

  • Letters of Credit - An Overview A Letter of Credit is an undertaking by the bank issuing it to pay the beneficiary of the credit provided stipulated documents are presented and other terms and conditions of the LC are complied with.

Related to A Letter of Credit

  • U.S. Letter of Credit shall have the meaning assigned to such term in Section 2.18(a).

  • 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.

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

  • Existing Letter of Credit means each of the letters of credit described by applicant, date of issuance, letter of credit number, amount, beneficiary and the date of expiry on Schedule 1.1(c) hereto.

  • 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.

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

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

  • Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05.

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

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

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

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Commercial Letter of Credit Agreement means the Commercial Letter of Credit Agreement relating to the issuance of a Commercial Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Evergreen Letter of Credit has the meaning specified in Section 2.14(b)(iii).

  • Eligible Letter of Credit means, as of any date of determination thereof, a Commercial Letter of Credit which supports the purchase of Inventory, (a) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued; (b) which Inventory otherwise would constitute Eligible Inventory when purchased, (c) which Commercial Letter of Credit has an expiry within sixty (60) days of the date of initial issuance of such Commercial Letter of Credit, (d) which Commercial Letter of Credit provides that it may be drawn only after the Inventory is completed and after a document of title reasonably acceptable to the Agent has been issued for such Inventory reflecting a Borrower or the Agent as consignee of such Inventory, and (e) which will constitute Eligible In-Transit Inventory upon satisfaction of the requirements of clause (d) hereof.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Letter of Credit Facility means, at any time, an amount equal to the least of (a) the aggregate amount of the Issuing Banks’ Letter of Credit Commitments at such time, (b) $200,000,000 and (c) the aggregate amount of the Revolving Credit Commitments, 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).

  • Acceptable Letter of Credit means an irrevocable standby letter of credit on customary terms issued by a U.S. bank or branch having a long term unsecured debt rating of at least A (or the equivalent) or better by S&P, Moody’s or Fitch and drawable by the Administrative Agent upon presentation in New York.

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

  • Financial Letter of Credit means a Letter of Credit that is not a Performance Letter of Credit.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • 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.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • 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.