Commercial Letter of Credit definition

Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.
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.
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 Borrower in the ordinary course of business of such Borrower.

Examples of Commercial Letter of Credit in a sentence

  • Each Letter of Credit shall be a Standby Letter of Credit (and may not be a Commercial Letter of Credit).


More Definitions of Commercial Letter of Credit

Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.
Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of materials, goods or services in the ordinary course of business.
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 the Borrower in the ordinary course of business of the Borrower.
Commercial Letter of Credit as defined in subsection 3.1(a).
Commercial Letter of Credit means any documentary letter of credit issued by an Issuing Bank pursuant to Section 10.1 for the account of the Lender on behalf of the Borrower.
Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing credit support in connection with the purchase of materials, goods or services by Borrower or any of its Subsidiaries in the ordinary course of their businesses.
Commercial Letter of Credit means any letter of credit or similar instrument issued for the account of the Applicable Borrower for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Borrower or any of its Subsidiaries in the ordinary course of business of the Company or its Subsidiaries.