Commercial Letters of Credit definition

Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

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Commercial Letters of Credit as defined in subsection 3.1(ii).

Commercial Letters of Credit means all Letters of Credit other than standby Letters of Credit.

Examples of Commercial Letters of Credit in a sentence

In the case of Commercial Letters of Credit, in the event that Issuing Lender is other than Administrative Agent, such Issuing Lender will send by facsimile transmission to Administrative Agent, promptly upon the first Business Day of each week, a report of its daily aggregate maximum amount available for drawing under Commercial Letters of Credit for the previous week.
All Letter of Credit Fees and fronting fees shall be computed on the basis of a year of 360 days and actual days elapsed and shall be payable in arrears on each Payment Date following issuance of each Letter of Credit; provided, however, that fronting fees on Commercial Letters of Credit shall be payable at the time of issuance.
Notwithstanding anything to the contrary contained in this Agreement, no Issuing Bank shall be required to issue Commercial Letters of Credit without its consent.
In the event that the Facing Agent is other than the Administrative Agent, such Facing Agent will send by facsimile transmission to the Administrative Agent, promptly on the first Business Day of each week its daily maximum Dollar Equivalent amount available to be drawn under the Commercial Letters of Credit issued by such Facing Agent for the previous week.
Unless otherwise specified, all Standby Letters of Credit and Commercial Letters of Credit will be governed by the “Uniform Customs and Practice for Documentary Credits” and all Bank Guarantees will be governed by the “Uniform Rules for Demand Guarantees”, in each case as issued by the International Chamber of Commerce and as in effect on the date of issuance of such Letter of Credit.

More Definitions of Commercial Letters of Credit

Commercial Letters of Credit means a Letter of Credit which is intended at the time of Issuance to be drawn upon for the purchase of Product.

Commercial Letters of Credit means irrevocable commercial letters of credit issued pursuant to Section 2.2(b) from time to time by the Letter of Credit Issuer or one of its correspondents for the account of the Borrower.

Commercial Letters of Credit means the commercial Letters of Credit issued by the LC Bank for the account of the Borrower pursuant to Section 2.05, each of which is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or any of its Subsidiaries in the ordinary course of its business.

Commercial Letters of Credit means a letter or letters of credit issued by L/C Issuer pursuant to Section 2.09 of this Credit Agreement for the purpose of assuring payment for goods or equipment supplied to Borrowers, or any of them.

Commercial Letters of Credit means any and all commercial or standby letters of credit or bank guarantees that may be issued by the Bank from time to time to third parties for the benefit of the Borrower pursuant to Section 2.04 of this Agreement.

Commercial Letters of Credit as defined in subsection 9.1(a).

Commercial Letters of Credit means commercial documentary letters of credit issued by an Issuing Bank pursuant to Article III.