Documentary Letter of Credit definition
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 Letter of Credit means any Letter of Credit that is a documentary letter of credit.
Documentary Letter of Credit means a commercial letter of credit qualifying as a trade-related contingency under 12 CFR Part 3, Appendix A, Section 3(b)(3) or any successor U.S. Comptroller of the Currency regulation.
Examples of Documentary Letter of Credit in a sentence
Such fronting fee shall be due and payable (i) in the case of any Financial Letter of Credit or Performance Letter of Credit, on the last Business Day of March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) in the case of any Documentary Letter of Credit, on the date of issuance or amendment of any such Letter of Credit.
More Definitions of Documentary Letter of Credit
Documentary Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility in support of trade obligations incurred in the ordinary course of business and that includes, as a condition to drawing thereunder, the presentation to the Issuing Bank of negotiable bills of lading, invoices and related documents sufficient, in the judgment of the Issuing Bank, to create a valid and perfected security interest in the goods covered thereby.
Documentary Letter of Credit a letter of credit which requires that the drafts thereunder be accompanied by a document of title covering or securing title to the goods acquired with the proceeds of such drafts.
Documentary Letter of Credit has the meaning specified in Section 2.07(b).
Documentary Letter of Credit means a letter of credit which is a short term, self-liquidating trade-related contingency.
Documentary Letter of Credit means a Letter of Credit which is a short term, self-liquidating trade-related contingency.
Documentary Letter of Credit means a Letter of Credit issued by Chase, as an Issuing Bank (or its successors as contemplated in the definition of Issuing Bank), or one of its (or its successors’) Affiliates pursuant to this Agreement that supports payment or performance for a single identified purchase of products in the ordinary course of business of the US Borrower.
Documentary Letter of Credit means a Letter of Credit issued ---------------------------- under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any Restricted Subsidiary to effect payment for such inventory, the conditions to drawing under which include the presentation to the Issuing Bank of negotiable bills of lading, invoices and related documents sufficient, in the judgment of the Issuing Bank, to create a valid and perfected Lien in such inventory and presented documents in favor of the Issuing Bank.