Examples of Cash Secured Letter of Credit in a sentence
I have shown how both air and light, in so far as they unify the cosmic and the affective, can be understood as atmospheric phenomena.
Notwithstanding anything in this Agreement to the contrary, no Cash Secured LC Issuer shall be under any obligation to Issue any Cash Secured Letter of Credit at any time.
With respect to any proposed Issuance of a Revolving Letter of Credit, there shall be insufficient capacity to issue a Cash Secured Letter of Credit assuming that such Revolving Letter of Credit was Issued as a Cash Secured Letter of Credit.
Upon the repayment of the then outstanding Term Loans on the Term Maturity Date, the Cash Secured Letter of Credit Issuer Commitment shall be reduced to zero and the Borrowers shall be permitted to withdraw the amount deposited in the Cash Secured LC Cash Collateral Account to complete such repayment; provided that after giving effect to such withdrawal, the Cash Secured Letter of Credit Cash Coverage Requirement shall be satisfied.
The Borrower or the relevant Eligible Borrower shall, upon the Bank’s request, promptly pay to and reimburse the Bank for all costs incurred and payments made by the Bank by reason of any future assessment, reserve, deposit or similar requirement or any surcharge, tax or fee imposed upon the Bank or as a result of the Bank’s compliance with any directive or requirement of any regulatory authority pertaining or relating to any Cash Secured Letter of Credit.