Commercial Letter of Credit Application definition

Commercial Letter of Credit Application has the meaning set forth in Section 2.01(d)(1)(a).
Sample 1Sample 2
Commercial Letter of Credit Application means each Application for Irrevocable Commercial Letter of Credit, in the form prescribed by the Lender, from time to time, to govern a Letter of Credit, as any of the same may be amended from time to time.
Sample 1
Commercial Letter of Credit Application as defined in subsection 4.2(a).
Sample 1

Examples of Commercial Letter of Credit Application in a sentence

  • Each commercial Letter of Credit issued by the Bank will be subject to the terms and conditions of the Commercial Letter of Credit Application pursuant to which it is issued as well as the terms and conditions of this Agreement.

  • Not less than three (3) Business Days prior to the date a commercial Letter of Credit is to be issued for its account, the Borrower will complete, execute and deliver to the Bank an Application and Agreement for Commercial Letter of Credit (each, a "Commercial Letter of Credit Application"), each on the Bank's then current form with the blanks therein appropriately completed, and such other documents as the Bank may reasonably require in connection therewith.

  • In the event of a conflict between the provisions of a Commercial Letter of Credit Application and the provisions of this Agreement, the provisions of this Agreement will govern.

  • This included Application and Agreement for Commercial Letter of Credit, Application and Agreement for Irrevocable Standby Letter of Credit and/or Assignment of Deposit Account and those agreements would bind the District upon ratification by the District’s Board of Trustees.

  • Subject to the provisions of the last sentence of subsection 4.8, the Company hereby agrees to observe and perform its covenants, duties and obligations under each Commercial Letter of Credit Application.

  • The obligation of Banks to make additional Advances under the Commitment or to issue Letters of Credit shall be subject to the Banks' receipt of a completed Advance Request Form or Letter of Credit Request Form and either a Stand-by Letter of Credit Application or a Commercial Letter of Credit Application, as applicable.

  • Pt. 578 49 CFR Ch. V (10–1–17 Edition) [79 FR 43678, July 28, 2014] PART 578—CIVIL AND CRIMINAL PENALTIESSec.

  • It shall be a condition to the issuance of any Letter of Credit that Administrative Agent shall have received a Letter of Credit Request Form and either a Standby Letter of Credit Application or a Commercial Letter of Credit Application as described above and that the conditions set forth in Paragraph 4.5 shall be satisfied.

  • Subject to the provisions of the last sentence of subsection 4.8, the Borrower hereby agrees to observe and perform its covenants, duties and obligations under each Commercial Letter of Credit Application.

  • It shall be a condition to the issuance of any Letter of Credit that Agent shall have received a Letter of Credit Request Form and either a Standby Letter of Credit Application or a Commercial Letter of Credit Application as described above.

Related to Commercial Letter of Credit Application

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Facility LC Application is defined in Section 2.19.3.

  • Credit Application means any application for a Credit Account completed by You.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • 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.

  • 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.

  • LC Application an application by Borrower Agent to Issuing Bank for issuance of a Letter of Credit, in form and substance satisfactory to Issuing Bank.

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

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

  • 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.

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

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

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

  • 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.

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

  • 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.

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

  • 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.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • 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.

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

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

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • 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.