BOA LOC definition
BOA LOC means the irrevocable direct pay letter of credit issued by Bank of America, N.A. in favor of the PCRR Trustee for the account of Seller, as additional security for the PCRR Bonds.
Examples of BOA LOC in a sentence
Notwithstanding the foregoing or anything to the contrary contained herein, all remarketing costs incurred in connection with the mandatory tender and remarketing of the PCRR Bonds prior to the Applicable Time as a result of the substitution of the Alternate Credit Facility for the BOA LOC shall be paid by the Purchaser provided that the Closing is consummated.