Contingent Payment Letters definition

Contingent Payment Letters has the meaning ascribed to that term in Section 5.1.
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Examples of Contingent Payment Letters in a sentence

  • The maximum aggregate Face Amount of all Contingent Payment Letters under the Operating Facility shall be Cdn.$11,000,000 (or the Equivalent Amount in US Dollars).

  • The Borrowers will duly and punctually pay or cause to be paid all amounts required to be paid by them to the Lenders pursuant to this Agreement or any of the other Credit Facility Documents or any Treasury Contract, including principal, interest, stamping fees, fees for Contingent Payment Letters, Commitment Fees, other fees and expenses and any other amounts, at the times, in the currencies and in the manner set forth herein or therein.

  • Advances in respect of Contingent Payment Letters shall be repayable forthwith upon being made.

  • In the event that, pursuant to Section 12.2, the obligations of the Operating Borrower to the Lenders hereunder shall be declared due and payable while any Contingent Payment Letter is outstanding, the Issuing Lender shall have the right to require the Operating Borrower to provide to the Issuing Lender cash collateral in an amount equal to the undrawn amount of, and in the currency of, all Contingent Payment Letters issued by the Issuing Lender then outstanding.

  • Upon the maturity of such Contingent Payment Letters, the Borrower shall request, and the Issuing Lender shall make or create, as the case may be, Advances and/or Bankers' Acceptances under the Acquisition Facility in the aggregate amount of all such Contingent Payment Letters then maturing.

  • As part of the credit available under the Acquisition Facility, the Acquisition Borrower may request that the Issuing Lender issue one or more Contingent Payment Letters in Canadian Dollars or US Dollars on the Closing Date up to a maximum aggregate amount of $1,000,000 and with a maturity date on or before the Acquisition Facility Maturity Date.

  • The Acquisition Borrower will pay to the Issuing Lender fees in respect of such Contingent Payment Letters at the equivalent rates as the stamping fees for Banker's Acceptances under the Acquisition Facility pursuant to Section 4.5, and otherwise upon the terms and conditions as set out in this Article 5 in respect of Contingent Payment Letters issued under the Operating Facility, mutatis mutandis.

  • In the event that, pursuant to Section 12.2, the obligations of the Requesting Operating Borrower to the Lenders hereunder shall be declared due and payable while any Contingent Payment Letter is outstanding, the Issuing Lender shall have the right to require the Requesting Operating Borrower to provide to the Issuing Lender cash collateral in an amount equal to the undrawn amount of, and in the currency of, all Contingent Payment Letters issued by the Issuing Lender then outstanding.

  • The Operating Borrower will pay to the Issuing Lender fees in respect of Contingent Payment Letters at the rate of 100 basis points per annum prior to the Conversion Date, and at the rate of 125 basis points per annum on and after the Conversion Date, in each case calculated on the Face Amount of the particular Contingent Payment Letter and on the basis of the number of days (with thirty days as the minimum number of days) such Contingent Payment Letter will be outstanding.

Related to Contingent Payment Letters

  • Contingent Payment means any payment that has been (or is required to be) ------------------ made under any of the following circumstances:

  • Contingent Payments has the meaning set forth in Section 2.02(a).

  • Contingent Claim means any Claim, the liability for which attaches or is dependent upon the occurrence or happening of, or is triggered by, an event, which event has not yet occurred, happened or been triggered as of the date on which such Claim is sought to be estimated or an objection to such Claim is filed, whether or not such event is within the actual or presumed contemplation of the holder of such Claim and whether or not a relationship between the holder of such Claim and FairPoint now or hereafter exists or previously existed.

  • Agreement Payment means a Payment paid or payable pursuant to this Agreement.

  • Contingent fee as used in this clause, means any commission, percentage, brokerage, or other fee that is contingent upon the success that a person or concern has in securing a Government contract.

  • Contingent Consideration has the meaning set forth in Section 1.6.

  • Contingent Right means a right under this Schedule 5 which is not a Firm Right and which is subject to the fulfilment of all competing Exercised Firm Rights and any additional contingency specified in this Schedule 5;

  • Premium payment plan means a benefit plan whereby state and

  • Management Letter means formal communications from the auditor to the client management in accordance with the International Standard on Auditing 265 (communicating deficiencies in internal control to those charged with governance and management), which is not required to be provided separately as it is equivalent to the Audit Findings and Recommendations prepared by the Project auditor and submitted to ADB;

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Investment Letter shall have the meaning specified in subsection 9.07(a).

  • Identified Contingent Liabilities means the maximum estimated amount of liabilities reasonably likely to result from pending litigation, asserted claims and assessments, guaranties, uninsured risks and other contingent liabilities of the Borrower and its Subsidiaries taken as a whole after giving effect to the Transactions (including all fees and expenses related thereto but exclusive of such contingent liabilities to the extent reflected in Stated Liabilities), as identified and explained in terms of their nature and estimated magnitude by responsible officers of the Borrower.

  • Contingent Liabilities means, respectively, each obligation and liability of the Credit Parties and all such obligations and liabilities of the Credit Parties incurred pursuant to any agreement, undertaking or arrangement by which any Credit Party either: (i) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including without limitation, any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (ii) guarantees the payment of dividends or other distributions upon the shares or ownership interest of any other Person; (iii) undertakes or agrees (whether contingently or otherwise): (A) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any property or assets constituting security therefor; (B) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person; or (C) to make payment to any other Person other than for value received; (iv) agrees to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (v) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (vi) undertakes or agrees otherwise to assure or insure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Disbursement Letter means an instructional letter executed and delivered by Borrower to Agent regarding the extensions of credit to be made on the Closing Date, the form and substance of which is satisfactory to Agent.

  • Settlement Payment means the transfer, or contractual undertaking (including by automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Engagement Letter means that certain Engagement Letter, dated as of June 18, 2015, by and among the Borrower and the Arrangers.

  • Indemnity, Subrogation and Contribution Agreement means the Indemnity, Subrogation and Contribution Agreement among Xxxxx 0, the Borrower, the Subsidiary Loan Parties and the Collateral Agent, substantially in the form of Exhibit C-3.

  • Tax Indemnity Agreement means the Tax Indemnity Agreement, dated as of even date with the Participation Agreement, between Lessee and Owner Participant.

  • Payment Agreement means a written agreement which provides

  • Post Closing Letter is that certain Post Closing Letter dated as of the Effective Date by and between Collateral Agent and Borrower.

  • Earnout Payments has the meaning specified in Section 2.7.

  • Post-Closing Agreement shall have the meaning set forth in Section 8.9.

  • Contingent Load means Load payable by the Unit Holder at actual basis to the extent of loss incurred by fund due to disinvestments if Units are redeemed by any major Unit Holder in such period of time that the Management Company believes may adversely affect the interest of other Unit Holder(s). Any Contingent Load received will form part of the Trust Property.

  • Payment Claim means the claim for payment made by the Contractor in accordance with this Contract.