ACCOUNTEE/APPLICANT definition

ACCOUNTEE/APPLICANT. CREDIT AMOUNT: [Tenant] [Address] DATE ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ OF EXPIRY: Attn: Boston, MA, ______________, 19__ Ladies and Gentlemen: We hereby establish our irrevocable Letter of Credit in your favor for account of the Applicant for an amount of ______________________ Dollars US (US$______________.00), available by your draft(s) on ourselves at sight, accompanied by: Beneficiary's statement, signed by a purportedly authorized officer/official of the Beneficiary, as follows: "Beneficiary is entitled under the terms and conditions of that certain Lease dated as of ____________, 199__, between Beneficiary and Accountee, to draw ________________ US Dollars (US$_______.___), representing all or a portion of the balance under [Name of Bank] Letter of Credit No._____________, and to hold or apply the same in accordance with the Lease." It is a condition of this Letter of Credit that it shall be deemed automatically extended, without amendment, for an additional period of one year from the present or any future Date of Expiry unless, not later than sixty (60) days prior to any such date, we shall advise you by Certified or Registered mail, postage prepaid, return receipt requested, that we elect not to so extend this Letter of Credit for any such additional period, in which case this Letter of Credit shall expire on the then-scheduled Date of Expiry. Upon receipt of any such notice, you may draw hereunder your sight draft on ourselves. In no event shall this Letter of Credit extend beyond 11:59 p.m. Boston time, ___________________, 199__. Reference in this Letter of Credit to the Lease dated ________________, 199__, by and between Beneficiary and Accountee is for identification purposes only. Such Lease is not incorporated herein or made a part of this Letter of Credit. All drafts must state "Drawn under [Name of Bank] Letter of Credit No.___________, dated __________________, 19___. Except as otherwise expressly stated, this Credit is subject to the "Uniform Customs and Practice for Documentary Credits (19___ Revision), International Chamber of Commerce Publication 500." We engage with you that your drafts drawn under and in accordance with the terms and conditions hereof will be duly honored by us if presented at this office, [Address], [City], [State], on or before the Date of Expiry stated above (as the same may be extended in accordance with the terms hereof). Very truly yours, [NAME OF BANK] By: -------------------------------------------- Authorized S...
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Examples of ACCOUNTEE/APPLICANT in a sentence

  • ACCOUNTEE/APPLICANT: MAXIMUM/AGGREGATE CREDIT AMOUNT: < > USD: $ .

  • ACCOUNTEE/APPLICANT: MAXIMUM/AGGREGATE CREDIT AMOUNT: USD: $ HIGHLAND CAPITAL PARTNERS, LLC [TENANT] LADIES AND GENTLEMEN: We hereby establish our irrevocable letter of credit in your favor for account of the applicant up to an aggregate amount not to exceed and /100 US Dollars ($ .

Related to ACCOUNTEE/APPLICANT

  • Eligible applicant means a school district, joint

  • Job applicant means a person, independent contractor, or person working for an independent contractor who applies to become an employee of the school district in a position that does not require a commercial driver’s license, and includes a person who has received a job offer made contingent on the person’s passing drug or alcohol testing. Job applicants for positions requiring a commercial driver’s license are governed by the provisions of the school district’s drug and alcohol testing policy relating to school bus drivers (Section III.).

  • Alternate applicant in case of a minor means the parent/step-parent/court guardian who has made the application on behalf of the minor;

  • The applicant means the person seeking the planning permission, not an agent acting on his or her behalf.

  • Co-Applicant means an employer or potential employer.