Drawing Payment definition

Drawing Payment means any payment by an LC Issuing Bank honoring a drawing under a Letter of Credit.

Drawing Payment shall have the meaning given to that term in Subparagraph 2.02(c).

Drawing Payment means a payment in U.S. Dollars by the Issuing Bank of all or any part of the Stated Amount in conjunction with a Drawing under any Letter of Credit.

Examples of Drawing Payment in a sentence

• In consideration and in furtherance of the foregoing, each DSRRevolving Loan Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, in Dollars, for the account of the applicable LC Issuer, such DSRRevolving Loan Lender’s Proportionate Share of each Drawing Payment in respect of any Letter of Credit not reimbursed by Xxxxxxxx on the date due as provided in Section 2.2.5, or of any reimbursement payment required to be refunded to the Borrower for any reason.

• Each LC Issuer shall promptly notify Administrative Agent and Borrower by facsimile or other means in accordance with this Agreement of such demand for payment and whether such LC Issuer has made or will make a Drawing Payment thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the applicable LC Issuer and the applicable Lenders with respect to any such Drawing Payment.

More Definitions of Drawing Payment

Drawing Payment as to any Letter of Credit, a payment made by the LC Issuer to the beneficiary under such Letter of Credit honoring the beneficiary’s presentation for a drawing thereunder.

Drawing Payment means shall have the meaning given to that term in SUBPARAGRAPH 2.01(i)(iii).

Drawing Payment means a payment in U.S. Dollars by the relevant Issuing Bank of all or any part of the Stated Amount in conjunction with a Drawing under any Letter of Credit. “Early Amortization Period” shall have the meaning given to such term in the Depository Agreement. “Economic Interest” shall mean the direct or indirect ownership by one Person of Capital Stock in another Person. A Person who directly holds all of the Capital Stock of another Person is understood to hold an Economic Interest of one hundred percent (100%) in such other Person. For purposes of determining the Economic Interest of one Person in another Person where there are one or more other Persons in the chain of ownership, the Economic Interest of the first Person in the second Person shall be deemed proportionately diluted by Economic Interests of less than one hundred percent (100%) held by such other Persons in the chain of ownership. For example, if Company A owns eighty percent (80%) of the Capital Stock of Company B, which in turn owns eighty percent (80%) of the partnership interests in Partnership C, which in turn owns fifty percent (50%) of the Capital Stock in Company D, then Company A would have an Economic Interest in Company D of thirty-two percent (32%). “EEA Financial Institution” shall mean (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA

Drawing Payment shall have the meaning given to that term in SUBPARAGRAPH 2.02(c).

Drawing Payment has the meaning assigned thereto in Section 2.03(b).

Drawing Payment means any payment by the issuer of a Letter of Credit honoring a drawing under such Letter of Credit.