Chicago Letter of Credit definition

Chicago Letter of Credit means that certain Letter of Credit issued by Bank of America in favor of the City of Chicago, as the beneficiary, in an aggregate principal amount not to exceed $25,000.
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Chicago Letter of Credit means the Wachovia Letter of Credit related to the Chicago Lease.
Sample 1

Examples of Chicago Letter of Credit in a sentence

  • After the Effective Date, the West Chicago Trust will be the recipient of any funds from the West Chicago Letter of Credit that are remaining after the infrastructure work required under the January 14, 0000 Xxxx Xxxxxxx Infrastructure Fund Agreement and secured by said Letter of Credit is completed.

  • Each request for a -------------------------------- Revolving Commitment Letter of Credit (other than the First Chicago Letter of Credit) shall be made by Omega on behalf of the Borrowers in writing, by telex, facsimile transmission or electronic conveyance received by the Agent by 2:00 p.m., Minneapolis time, on a Business Day which is not less than two Business Days prior to the requested date of issuance (which shall also be a Business Day).

  • The Borrowers hereby request the ----------------- Agent, and the Agent agrees, to issue the Stockholders' Committee Letter of Credit and the First Chicago Letter of Credit on the Closing Date (although such Letters of Credit may be dated prior to the Closing Date).

  • Parent and/or Pty will not permit the Indebtedness secured by the First Chicago Letter of Credit to be secured by any rights, liens, mortgages or security interests in any assets of either Borrower or any Guarantor Subsidiary (other than the First Chicago Letter of Credit) .

Related to Chicago Letter of Credit

  • 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.

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

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

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

  • Existing Letter of Credit means each letter of credit previously issued (or deemed issued) for the account of the Borrower, the Company or any of their respective Subsidiaries under the Existing Credit Facilities that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01C.

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

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • 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.

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

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

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

  • 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.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • 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.

  • 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.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

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

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • 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.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • 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.