Credit Applicant definition
Examples of Credit Applicant in a sentence
Unless Applicant specifies otherwise in its Application for a Credit, Applicant agrees that Bank may issue a Credit subject to the ISP or UCP.
Unless Applicant specifies otherwise in its application for the Credit, Applicant agrees that Bank may issue the Credit subject to the UCP or ISP 98 or, at Bank’s option, such later revision of either thereof as is in effect at the time of issuance of the Credit.
Document(s), if any, required to accompany drawing(s): Additional Conditions: In consideration of Bank's issuance of the Credit, Applicant agrees to the terms and conditions as set forth herein, in any attachments, exhibits or addenda, and in the most recent Continuing Reimbursement Agreement executed by Applicant.
The Issuing Bank shall promptly notify the Administrative Agent and the applicable Letter of Credit Applicant by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Parent or any Letter of Credit Applicant of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement.
Requirements for the Credit Grantor, Credit Applicant and Guarantor on the Notice Related to this Agreement.
If the materials provided by the Credit Applicant are incomplete, incorrect, false or inconsistent with the purposes agreed in the Agreement, the Credit Grantor shall have the right to refuse to perform relevant withdrawal and payment instructions or require the Credit Applicant to supplement and rectify.
The Credit Grantor shall notify the Credit Applicant and each guarantor of the transfer of rights, and the notice may be made in writing, in the form of a public announcement in the media, or in other forms.
If the Credit Applicant fails to pay off the arrears during the credit period or at the expiration of the insurance period, and if the insurance is interrupted or not renewed, the Credit Applicant shall have the right (but no obligation) to handle the insurance on its behalf.
The Credit Grantor may transfer its rights under this Agreement to other parties without obtaining the consent of the Credit Applicant or each guarantor.
Independent payment means that the Credit Applicant shall independently pay the transaction object of the Credit Applicant that meets the purposes agreed in this Agreement after the Credit Grantor distributes the credit funds to the account of Credit Applicant according to the withdrawal application of the Credit Applicant.