Definition of DF Letter of Credit

DF Letter of Credit means, at any time, each Letter of Credit outstanding at such time designated as a DF Letter of Credit pursuant to Section 2.05(a).
Sample 1

Examples of DF Letter of Credit in a sentence

No DF Letter of Credit may be redesignated as a Revolving Letter of Credit if the Parent Borrower and the Issuing Bank in respect thereof shall have agreed at the time such Issuing Bank became an Issuing Bank that such Issuing Bank will not be required to issue Revolving Letters of Credit, or that DF Letters of Credit issued by such Issuing Bank may not be redesignated by the Parent Borrower as Revolving Letters of Credit, and shall not have subsequently agreed otherwise.