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.

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 3.1(ii).

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.

• 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.

• The Senate president will report to the Senate on the outcomes of these follow-up conferences.

• Notwithstanding anything to the contrary contained in this Agreement, no Issuing Bank shall be required to issue Commercial Letters of Credit without its consent.

More Definitions of Commercial Letters of Credit

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

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 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 a letter or letters of credit issued by L/C Issuer pursuant to Section 2.08 of the Credit Agreement for the purpose of assuring payment for goods, equipment or materials supplied to Borrower.

Commercial Letters of Credit as defined in subsection 8.1(a).

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

Commercial Letters of Credit. The Applicable Margin for Eurodollar Loans minus 0.50%.