Equity Letter of Credit definition

Equity Letter of Credit has the meaning assigned to it in the Collateral Agency Agreement.

Equity Letter of Credit means each Kiewit Equity Letter of Credit and Meridiam Equity Letter of Credit, each as defined in the Equity Contribution Agreement.

Equity Letter of Credit means each letter of credit provided in accordance with this Agreement that constitutes Acceptable Credit Support.

Examples of Equity Letter of Credit in a sentence

• The Financing Documents will require each Equity Member to provide an Equity Letter of Credit, the aggregate amount of which must be at least equal to the unfunded equity committed to the Project during the D&C Term.

• Promptly upon the earlier of (a) any date on which the Contributor reacquires the Required Ratings and (b) the Termination Date, the Collateral Agent shall, as applicable, (i) in case of an Equity Letter of Credit, return the Equity Letter of Credit to, or as directed by, the Contributor for cancellation, or (ii) in the case of a Cash Collateral Account, instruct the applicable Account Bank to transfer all amounts on deposit therein to, or as directed by, the Contributor.

• The Contributor may replace, or cause to be replaced, the Equity Letter of Credit or a Cash Collateral Account with one or more substitute Equity Letters of Credit and/or Cash Collateral Accounts from time to time, and the Collateral Agent shall deliver to the Contributor all documentation in its possession and reasonably requested by the Contributor in order to effect such replacement.

• At all times thereafter and prior to the earlier of (A) any date on which the Contributor reacquires the Required Ratings and (B) the Termination Date, the Contributor shall maintain the Equity Letter of Credit or a Cash Collateral Account, in either case, in an amount equal to the then Unfunded Commitment.

• Equity Letter of Credit means the letter of credit furnished to secure each Equity Member’s performance of its obligations under the Project Financing Agreements.

More Definitions of Equity Letter of Credit

Equity Letter of Credit has the meaning given to such term in the Equity Contribution Agreement.

Equity Letter of Credit means an irrevocable standby letter of credit, denominated in dollars, issued in favor of the Collateral Agent by a Qualified Issuer, in form and substance satisfactory to the TIFIA Lender.

Equity Letter of Credit means an irrevocable letter of credit issued by an LOC Issuer, naming the Administrative Agent as beneficiary, which (a) shall be in the form of EXHIBIT A hereto and (b) have a face amount equal to the initial Equity Contribution Commitment.

Equity Letter of Credit means an irrevocable letter of credit issued by a Qualified Letter of Credit Issuer, naming Cogentrix/Batesville as the account party and the Collateral Agent as beneficiary, which (a) shall be substantially in the form of Exhibit A hereto, (b) shall have a face amount equal to the Equity Amount and (c) shall expire on the date upon which the Equity Contributor has indefeasibly paid in full an Equity Contribution equal to the Equity Amount pursuant to Section 2.

Equity Letter of Credit means, collectively, the letter of credit delivered pursuant to Section 3.1(a)(xvi) and any amendment to such letter of credit or other letter of credit delivered on or before the Amendment Effective Date pursuant to Section 3(a)(iii) of the First Amendment.

Equity Letter of Credit means the Equity Letter of Credit issued by First Chicago NBD Corporation in favor of the Trustee and any successor thereto.

Equity Letter of Credit means an irrevocable letter of credit, substantially in the form of Exhibit B hereto or otherwise in a form reasonably acceptable to the Administrative Agent (acting at the direction of the Required Lenders) and the Collateral Agent, issued by an Acceptable Bank in favor of the Collateral Agent (for the benefit of the Secured Parties), in each case, that has a stated maturity date that is not earlier than 12 months after the date of issuance of such letter of credit, and which letter of credit and all related documentation are satisfactory to the Administrative Agent, acting reasonably, and in each case no Loan Party or Subsidiary thereof is the account party in respect of such letter of credit or otherwise liable in any respect for any reimbursement payments for any drawings under such letter of credit or any other costs associated therewith and such letter of credit is not secured by any assets of any Loan Party or Subsidiary thereof (including the Collateral).