Equity Letters of Credit definition

Equity Letters of Credit means, collectively, the Tranche A Equity Letters of Credit and the Tranche B Equity Letters of Credit and any letters of credit issued in substitution thereof.
Sample 1
Equity Letters of Credit means each of the irrevocable letters of credit, substantially in the form of Annex A-2 attached to this Schedule A, issued in favor of the Trustee by banks satisfactory to the Lenders, in support of the obligations of each Sponsor Shareholder (other than Himal International Power Corporation Pvt. Ltd.) under its Subscription Agreement.
Sample 1
Equity Letters of Credit means together (a) the irrevocable standby letter of credit issued by a bank or other financial institution satisfactory to the Administrative Agent in its sole discretion that names the Administrative Agent as the beneficiary obtained by SCP III AIV Three FCER LP as the applicant, in respect of which (i) solely SCP III AIV Three FCER LP is obligated to reimburse the issuer thereof for all amounts payable to such issuer in respect of such letter of credit and (ii) none of Holdings, any Subsidiary or any Joint Venture in respect of which Holdings or any Subsidiarity is a joint venturer is liable or provides any form of credit enhancement (whether in the form of a guarantee, the grant of a security interest or otherwise), either directly or indirectly, whether or upon the occurrence of a contingency or otherwise, (b) the irrevocable standby letter of credit issued by a bank or other financial institution satisfactory to the Administrative Agent in its sole discretion that names the Administrative Agent as the beneficiary obtained by Covert Family Limited Partnership as the applicant, in respect of which (i) solely Covert Family Limited Partnership is obligated to reimburse the issuer thereof for all amounts payable to such issuer in respect of such letter of credit and (ii) none of Holdings, any Subsidiary or any Joint Venture in respect of which Holdings or any Subsidiarity is a joint venturer is liable or provides any form of credit enhancement (whether in the form of a guarantee, the grant of a security interest or otherwise), either directly or indirectly, whether or upon the occurrence of a contingency or otherwise and (c) the irrevocable standby letter of credit issued by a bank or other financial institution satisfactory to the Administrative Agent in its sole discretion that names the Administrative Agent as the beneficiary obtained by Xxxxx X. Xxxxx and Xxxxxx X. Xxxxx as the applicants, in respect of which (i) solely Xxxxx X.
Sample 1

Examples of Equity Letters of Credit in a sentence

  • 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.

  • Lender and Borrowers acknowledge and agree that because Lender is permitting Borrowers to delay Borrowers’ equity contribution in the Project in return for Borrowers posting the Required Equity Letter(s) of Credit, it is anticipated that at some point in time prior to Substantial Completion, the Construction Loan Amount, other than the interest Line Item, will be fully advanced (such time being referred to herein as the “Borrower Advance Date”).

  • As applicable): - Equity Letter(s) of Credit in an amount equal to the unfunded equity committed to the Project (20% of total Project cost).

  • Evaluating the teaching performance of mathematics teachers in general education stages according to the aesthetic approach.

  • The Authority will comply with its obligations under the Funding Agreement and its obligations as set forth in Section 3.3 of Schedule 18 in respect of the Equity Letters of Credit referred to in that Section.

  • The keyquestion is whether there is really value for money or is it following “a financial fashion” from the UK which also let financial interests share in large State contracts.

  • If the Equity Investor funds a portion (but not all) of any Funding Contribution in Dollars, the Equity Investor shall notify the Collateral Agent which Equity Letters of Credit should be drawn to fund the balance of such Funding Contribution.

  • Equity Letters of Credit Project company shareholders documentation1.


More Definitions of Equity Letters of Credit

Equity Letters of Credit means, collectively, (a) the Irrevocable ------------------------ Letter of Credit to be issued by GECC pursuant to the Reimbursement Agreement in favor of Con Ed for the account of the Partnership, (b) any letter of credit issued by GECC pursuant to the Reimbursement Agreement in favor of Elizabethtown Water for the account of the Partnership and (c) any letter of credit issued by GECC pursuant to the Reimbursement Agreement in replacement of any letter of credit issued by GECC pursuant to the Construction Loan Agreement in favor of Con Ed, PSE&G, Exxon or Elizabethtown Water for the account of the Partnership, in each case, as amended, supplemented, restated or otherwise modified from time to time.
Sample 1
Equity Letters of Credit as defined in the Amended and Restated ------------------------ Partnership Agreement.
Sample 1

Related to Equity Letters of Credit

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Letters of Credit as defined in Section 3.1(a).

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Existing Letter of Credit means each letter of credit previously issued (or deemed issued) for the account of the Borrower, the Company or any of their respective Subsidiaries under the Existing Credit Facilities that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01C.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Revolving Loan Documents means the “Loan Documents” as defined in the Revolving Credit Agreement.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Credit Agreements means any promissory note, mortgage, loan agreement, indenture or similar instrument or agreement to which the Company or any of its Subsidiaries is or becomes a borrower, as such instruments or agreements may be amended, restated, supplemented or otherwise modified from time to time and including any one or more refinancing or replacements thereof, in whole or in part, with any other debt facility or debt obligation, for as long as the payee or creditor to whom the Company or any of its Subsidiaries owes such obligation is not an Affiliate of the Company.