Closing Date LC definition
Closing Date LC means that certain irrevocable standby letter of credit no. LC21055-601, issued by Bridge Bank, N.A. for the account of TTD to 386 Pas Owner LLC, as beneficiary.
Closing Date LC is defined in Section 2.1.2(a).
Examples of Closing Date LC in a sentence
On the Closing Date, LC Capital shall deliver good, valid and marketable title to the Convertible Note and the Warrants transferred to the Borrower hereunder for cancellation, free and clear of any liens, charges, and encumbrances.
Upon the conversion of the Credit-Linked Deposits (as defined in the Existing Parent Credit Agreement) into term loans made under the Parent Credit Agreement, the Limited Recourse Guarantor shall contribute to the Account Party 100% of the cash proceeds of such L/C Facility Closing Date L/C Cash Collateral Amount as common Capital Stock of the Account Party (the “Equity Contribution”) and the Account Party shall deposit a portion of the proceeds thereof in the L/C Collateral Account.