Documentary LC definition

Documentary LC means any letter of credit (other than a Letter of Credit) that is issued by a Person that is not an Affiliate of Parent for the benefit of a supplier of inventory to Parent or any Subsidiary to effect payment for such inventory.
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Documentary LC means any letter of credit (other than a Letter of Credit) that is issued by a Person that is not an Affiliate of FDSI for the benefit of a supplier of inventory to FDSI or any Subsidiary to effect payment for such inventory.
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Examples of Documentary LC in a sentence

  • Fees and expenses related to each Documentary L/C will be agreed upon at issuance.

  • This Documentary LC must be payable within five (5) banking days of Buyer’s Bank receives.

  • The Agent's standard operational charges and fees will be charged for each Documentary L/C and shall be for the account of the Agent.

  • This fee shall be paid in advance at the time of issuance of each Documentary L/C, based upon the combined tenor of the Documentary L/C and any related time drafts and is in addition to all other fees or expenses provided for in the L/C Application, which shall be for the account of the Agent.

  • If Part 4 of the Key Terms Schedule specifies that Documentary LCs are “Available” and a Borrower gives a Funding Notice requesting a Documentary LC under the Trade Finance Facility, the Lender must, subject to this agreement, issue each Documentary LC requested in the Funding Notice on the specified Funding Date in the specified Available Currency and otherwise in accordance with that Funding Notice.

  • Each L/C Issuance Request shall be accompanied by the Issuing Bank's customary Standby or Documentary L/C application and other standard documents as may be required by the Issuing Bank (the "APPLICATION DOCUMENTS") each duly completed and executed and delivered by the Borrower.

  • Without limiting any rights and remedies available to the Bank under the Documentary L/C Agreement and related documents, any draw under a Documentary L/C may, at the Bank's option, be repaid through an automatic advance under the Line, which shall be repayable according to the terms of this Agreement.

  • Prior to the issuance of a Documentary L/C, the Borrower will execute the Bank's standard Application and Agreement for Irrevocable Documentary Letters of Credit (the "Documentary L/C Agreement") and such other documents as the Bank deems necessary.

  • Documentary Letters of Credit Fees on Documentary Letters of Credit shall be determined by that percentage per annum set forth in the following table which is applicable to the Fixed Charge Coverage Ratio then in effect (the "Applicable Documentary LC Percentage") (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) times the average daily Documentary Letter of Credit Outstandings.

  • In addition, the Borrower shall pay to the Agent a credit fee of 1.0% per annum on the face amount of each Documentary L/C and time draft, calculated on the basis of actual days elapsed in a 360-day year.

Related to Documentary LC

  • Documentary Letter of Credit means any Letter of Credit that 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.

  • Documentary draft means a draft to be presented for acceptance or payment if specified documents, certificated securities as defined in section 8102 or instructions for uncertificated securities as defined in section 8102, or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft.

  • documentary evidence means any matter expressed or described upon any substance by means of letters, figures or marks intended to be used for the recording of that matter and produced before a court.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Facility LC is defined in Section 2.19.1.