Application and Agreement for Letter of Credit definition

Application and Agreement for Letter of Credit means the document substantially in the form of Exhibit C annexed hereto, with appropriate insertions and deletions, with respect to the proposed issuance or amendment of a Letter of Credit.
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Application and Agreement for Letter of Credit means an application and agreement for standby letter of credit by, between and among Borrower and a Qualified Borrower, on the one hand, and the Letter of Credit Issuer, on the other hand, in a form acceptable to the Letter of Credit Issuer (and customarily used by it in similar circumstances) and conformed to the terms of this Credit Agreement, either as originally executed or as it may from time to time be supplemented, modified, amended, renewed, or extended, provided, however, to the extent that the terms of such Application and Agreement are inconsistent with the terms of this Credit Agreement, the terms of this Credit Agreement shall control.
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Application and Agreement for Letter of Credit means an application and agreement for standby letter of credit by, between, and among any Borrower, on the one hand, and Huntington, on the other hand, in a form provided by Huntington, either as originally executed or as it may from time to time be supplemented, modified, amended, renewed, or extended.
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Examples of Application and Agreement for Letter of Credit in a sentence

  • Each request by the Borrower for the issuance or renewal of a Letter of Credit, whether pursuant to an Application and Agreement for Letter of Credit or otherwise, shall constitute its certification that the conditions specified in Section 5.2 with respect to such issuance or renewal have been satisfied.

  • The Application and Agreement for Letter of Credit shall specify (i) the proposed date of issuance (which shall be a Business Day under the laws of the Commonwealth of Kentucky), (ii) the face amount of the Letter of Credit, (iii) the expiration date of the Letter of Credit, (iv) the name and address of the beneficiary of the Letter of Credit, and (v) a summary of the purpose and contemplated terms of the Letter of Credit.

  • Each Borrower agrees that the Liens and security interests granted to the Administrative Agent with respect to the Obligations as security for all obligations and liabilities of such Borrower under the Credit Agreement, each Application and Agreement for Letter of Credit and the Revolving Loan Note are valid and binding and are hereby ratified and confirmed in all respects.

  • Each request for the issuance of a Letter of Credit shall be made, together with the fully completed accompanying Application and Agreement for Letter of Credit, five (5) Business Days prior to the date of the requested issuance of the Letter of Credit.

  • The Borrower(s) have attached hereto an Application and Agreement for Letter of Credit in the form of Schedule 1 dated as of [DATE].

  • Administrative Agent and Lenders may conclusively rely on the Letter of Credit Issuer as to the amount due the Letter of Credit Issuer by reason of any draft of a Letter of Credit or due the Letter of Credit Issuer under any Application and Agreement for Letter of Credit.

  • Issuing Bank agrees, subject to the terms and conditions of this Agreement, upon request and for the account of Borrower, to issue from time to time Letters of Credit upon delivery to Issuing Bank of an Application and Agreement for Letter of Credit in form and content reasonably acceptable to Issuing Bank; provided, that the Letter of Credit Outstandings shall not exceed the Total Letter of Credit Commitment.

  • The Issuing Bank agrees, subject to the terms and conditions of this Agreement, upon request and for the account of Borrower, to issue from time to time Letters of Credit for the Borrower's general corporate purposes upon delivery to the Issuing Bank of an Application and Agreement for Letter of Credit in form and content acceptable to the Issuing Bank; provided, that the Letter of Credit Outstandings shall not exceed the Total Letter of Credit Commitment.

  • Each request for a Letter of Credit (a "REQUEST FOR LETTER OF CREDIT") shall be submitted to Administrative Agent in the form attached hereto as EXHIBIT D (with blanks appropriately completed in conformity herewith), together with an Application and Agreement for Letter of Credit, for the Letter of Credit Issuer, on or before 11:00 a.m. (San Francisco time) at least two (2) Business Days prior to the requested date of issuance of a Letter of Credit.

  • In the case of a Letter of Credit, the Letter of Credit Issuer shall have received an Application and Agreement for Letter of Credit executed by Borrower and shall have countersigned the same.


More Definitions of Application and Agreement for Letter of Credit

Application and Agreement for Letter of Credit means an Application and Agreement for Letter of Credit on Lender's customary form, which is executed by one or more of the Borrowers and delivered to the Lender in connection with a request for the issuance of a Letter of Credit.
Sample 1
Application and Agreement for Letter of Credit means an application and agreement for either a standby letter of credit or for an amendment thereto substantially in the form of Exhibit "D" hereto.
Sample 1
Application and Agreement for Letter of Credit means an application and agreement for either a standby letter of credit or for an amendment thereto substantially in the form of Exhibit “A” hereto, or in form as otherwise requested by an L/C Issuer from time to time. Assignment and Assumption Agreement shall mean (i) the Master Assignment and Assumption Agreement or (ii) an Assignment and Assumption Agreement by and among a Purchasing Lender, a Transferor Lender and the Agent, as the Agent and on behalf of the remaining Lenders, substantially in the form of Exhibit “B” hereto. Base Rate shall mean a fluctuating rate of interest per annum equal to the greater of (i) the interest rate per annum announced from time to time by the Agent at its Principal Office as its then prime rate, which rate may not be the lowest rate then being charged commercial borrowers by the Agent, or (ii) the Federal Funds Open Rate plus 1/2 of one percent per annum. Documentation Agent shall mean (i) prior to the First Amendment Closing Date, each of U.S. Bank, National City Bank of Pennsylvania and LaSalle Bank National Association in its capacity as documentation agent hereunder, and (ii) on and after First Amendment Closing Date, National City Bank of Pennsylvania and Comerica Bank. Euro-Rate shall mean for any day, as used herein, for each segment of the Euro-Rate Portion corresponding to a proposed or existing Euro Rate Interest Period, the interest rate per annum determined by the Agent by dividing (the resulting quotient rounded upward to the nearest 1/100th of 1% per annum) (i) the rate of interest determined by the Agent in accordance with its usual procedures (which determination shall be conclusive, absent manifest error) to be equal to the average of the London interbank offered rates of interest per annum for U.S. Dollars quoted by the British Bankers’ Association as set forth on Money Telerate Service (formerly Telerate) (or appropriate successor, or, if the British Bankers’ Association or its successor ceases to provide such quotes, a comparable replacement determined by the Agent) display page 3750 (or such other display page on the Money Telerate Service System as may replace display page 3750), two (2) Business Days prior to the first day of such Euro-Rate Interest Period for an amount comparable to such Euro Rate Portion and having a borrowing date and a maturity comparable to such Euro-Rate Interest Period by (ii) a number equal to 1.00 minus the Euro-Rate Reserve Percentage. The Euro-Rate may also be expresse...
Sample 1
Application and Agreement for Letter of Credit means the document substantially in the form of Exhibit C annexed hereto, with appropriate
Sample 1
Application and Agreement for Letter of Credit means the document substantially in the form o f Exhibit C annexed hereto, with appropriate insertions and deletions, with respect to the proposed issuance or amendment of a Letter of Credit.
Sample 1

Related to Application and Agreement for Letter of Credit

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit F, signed by a Responsible Official of Borrower and properly completed to provide all information required to be included therein.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Disbursement Agreement means the Master Disbursement Agreement, dated as of the Closing Date, by and among the Administrative Agent, the Bank Facilities Administrative Agent, the Disbursement Agent, the Borrowers and LCR, in substantially the form of Exhibit D-3 hereto, as the same may be amended, supplemented, amended and restated, or otherwise modified in accordance with the terms hereof and thereof.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

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

  • 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.

  • Amendment No. 5 means Amendment No. 5 to this Agreement dated as of August 7, 2020, by and among the Borrower, Holdings, the other Loan Parties party thereto, the Extending Revolving Credit Lenders party thereto, and the Administrative Agent.

  • Irrevocable letter of credit means an irrevocable letter on the financial institution’s standard form containing a request that the party to whom it is addressed pay the bearer or a person named therein money as a result of failure to perform or fulfill all the covenants, undertakings, terms, conditions and agreements contained in a contract.

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

  • Amendment No. 8 means Amendment No. 8, dated as of March 31, 2017, to this Agreement.

  • Amendment No. 7 means Amendment No. 7 to this Agreement, dated as of January 25, 2021 among the Borrower, the Term Administrative Agent, the Collateral Agent and the lenders party thereto.

  • Reimbursement Agreement as defined in Section 2.8(b).

  • Auto-Reinstatement Letter of Credit has the meaning specified in Section 2.03(b)(iv).

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.

  • Amendment No. 6 means Amendment No. 6 to this Agreement dated as of August 24, 2021, by and among the Borrower, Holdings, the other Loan Parties party thereto, the Extending Revolving Credit Lenders party thereto, the Third Incremental Term Lenders and the Administrative Agent.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Amendment No. 1 means Amendment No. 1 to Credit Agreement dated as of October 25, 2016, by and among the Loan Parties, the Administrative Agent and the Lenders party thereto.

  • Amendment No. 2 means Amendment No. 2 to this Agreement, dated as of the Amendment No. 2 Effective Date, by and among the Loan Parties, the L/C Issuers, the Former Administrative Agent, the Former Collateral Agent, the New Administrative Agent, the New Collateral Agent, the Amendment No. 2 Additional Lender and the other Lenders party thereto.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

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