Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;
Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.
Facility Charge means one percent (1%) of the Maximum Term Loan Amount.
Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).
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.
Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.
Extended Letter of Credit has the meaning given that term in Section 2.3.(b).
Final Drawing has the meaning specified in Section 3.05(i).
Facility Letter of Credit means a Letter of Credit issued hereunder.
Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.
LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.
Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).
Drawing means the drawing or drawings specified in or annexed to the Specifications;
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.
Facility LC Application is defined in Section 2.19.3.
U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.
Credit Provider means a Person providing Credit Link Documents, in form and substance acceptable to the Administrative Agent in its sole discretion, of the obligations of an Investor to make Capital Contributions.
Auto-Reinstatement Letter of Credit has the meaning specified in Section 2.03(b)(iv).
Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.
Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.
Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.
Evergreen Letter of Credit has the meaning set forth in Section 2.01.
Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).