Bank Drafts definition

Bank Drafts means drafts issued by the Company or its designee on behalf of a Credit Party in connection with the SunTrust Draft Program or similar program, pursuant to documentation reasonably acceptable to the Administrative Agent.
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Examples of Bank Drafts in a sentence

  • That the partners can authorize any one or more of them to draw, accept, endorse and sign Cheques, Hundies, Promissory Notes, Bills of Exchange, Bank Drafts, other negotiable instruments, and obligation affecting the firm and other related Commercial and Shipping Documents and also to deposit, borrow, draw or over-draw money for the firm in respect of merchandise or goods or property belonging to the firm.

  • Borrower may request that Bank accept, at its option and with full power of further sale, discount or other transfer, drafts drawn by Borrower on Bank ("Drafts") in a face amount of not less than $50,000, upon the terms and conditions set forth herein.

  • As long as the Loan is not otherwise in default, and Borrower provides a Request for Advance - (rust Receipt acceptable to Lender, Lender will honor the Bank Drafts and will deem the procedural conditions for an advance satisfied for a period of three (3) Business Days.

  • Buyer will use commercially reasonable efforts to collect all Short-Term China Bank Drafts as they mature.

  • From time to time a closing agent for Borrower, at the closing of a Mortgage loan transaction, will deliver to persons entitled to receive proceeds from the Mortgage Loan transaction checks or drafts against Borrowers account with Lender (the Bank Drafts).

  • Return all Original Subscription Documents, Cheques and Bank Drafts directly to:  I acknowledge that this is a risky investment  I am investing entirely at my own risk.

  • In addition to the foregoing, any outstanding amounts payable to Toshiba that are subject to conversion into a foreign currency will be converted at the lowest rate for selling Bank Drafts in the foreign currency as published by Citibank Australia during the period of non-payment.

  • Certified Cheques, Bank Drafts or Letters of Credit shall be duly executed and sealed by the financial institution.

  • Bankers Cheque(s) / Bank Draft(s) that has / have been issued from your account and remains unclaimed by the beneficiary for more than past twelve (12) months shall be classified as unclaimed funds.

  • The Purchase Price shall be paid by Bank Drafts or Solicitor's Trust Cheques totalling the Purchase Price, each Vendor to receive that portion of the Purchase Price as is set out beside their names in Schedule "A" hereto.

Related to Bank Drafts

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Failed Bank Advances means the total sums paid by the Failed Bank to (i) protect its lien position, (ii) pay ad valorem taxes and hazard insurance, and (iii) pay credit life insurance, accident and health insurance, and vendor's single interest insurance.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).