Facility B Letter of Credit definition

Facility B Letter of Credit means any letter of credit or similar instrument (including a bank guarantee) issued under this Agreement that is (a) acceptable to the applicable Issuing Bank and (b) issued pursuant to Facility B for the purpose of providing credit support to a Facility B Borrower.
Sample 1Sample 2Sample 3
Facility B Letter of Credit means a performance letter of credit or guarantee issued under the Facility B Credit under the Original Credit Agreement .
Sample 1Sample 2Sample 3
Facility B Letter of Credit means any letter of credit or similar instrument (including a bank guarantee) issued under this Agreement that is
Sample 1Sample 2

Examples of Facility B Letter of Credit in a sentence

  • Each Facility B Letter of Credit outstanding on the date of this Agreement shall be deemed to be a Facility A Letter of Credit outstanding under the Facility A Credit.

  • The Borrower shall pay to the Administrative Agent for the account of each Revolving B Lender in accordance, subject to Section 2.20, with its Applicable Revolving B Credit Percentage a Facility B Letter of Credit Fee (the “Facility B Letter of Credit Fee”) for each REIT L/C equal to the Applicable Rate times the daily amount available to be drawn under such REIT L/C.

  • Det kan exempelvis handla om att rummet öppnas upp för fler och att verksamheter, privata som offentliga, sprids ut i rummet (ibid.).

  • On or before the Effective Date, the Borrower shall pay to the Agent, for the Account of the Revolving Credit Facility B Lender, all accrued and unpaid Revolving Credit Facility B Commitment Fees under the Second Amended and Restated Senior Secured Credit Agreement and all accrued and unpaid Letter of Credit Fees relating to any Revolving Credit Facility B Letter of Credit under the Second Amended and Restated Senior Secured Credit Agreement.

  • Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving B Lenders, while any Event of Default exists, all Facility B Letter of Credit Fees shall accrue at the Default Rate.

  • The draft policy sets out categories of advertising that will be unacceptable to the Council and additionally reserves the right to refuse certain advertising within its own residents’ magazine or in the immediate vicinity of Council offices.

  • All representations and warranties of the Borrower contained in this Agreement shall survive delivery of the Notes, the making of the Loans and release of the cash collateral for the Facility B Letter of Credit herein contemplated.

  • Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities ("Participants") participating interests in any Loan owing to such Lender, any Note held by such Lender, any Commitment or Facility B Letter of Credit Participation Amount of such Lender or any other interest of such Lender under the Transaction Documents, provided that any such sale shall be at no cost to the Borrower.

  • Concurrently with the receipt by Holdings or the Borrower of the proceeds of an initial public offering of capital stock of Holdings or the Borrower, the Borrower shall pay in full all outstanding Obligations, and shall transfer to the Agent for deposit in the cash collateral account described in Section 2.18.5 the Available Amount, if any, under the Facility B Letter of Credit.

  • For security reasons we suggest that you destroy this form.B ConsiderationThe cash consideration payable is that set out in the terms of Drillsearch’s Offer.


More Definitions of Facility B Letter of Credit

Facility B Letter of Credit means the Irrevocable Standby Letter of Credit no. 00324651, dated February 27, 1998 and expiring on August 27, 2000, issued by First Chicago for the benefit of Transfinancial Bank in the amount of $1,250,000 for the account of the Borrower.
Sample 1
Facility B Letter of Credit means any letter of credit then outstanding under Facility B.
Sample 1
Facility B Letter of Credit means a performance letter of credit or guarantee denominated in CDollars or USDollars, having a term of up to 365 days and an expiry date not later than the Facility B Maturity Date, issued by the Issuing Bank pursuant to Facility B Credit in accordance with Sections 10.1.2 and 10.7 for the account of the Canadian Borrower (a) in which the Lenders under Facility B Credit participate pursuant to Section 10.2, (b) which is a standby letter of credit or letter of guarantee in respect of obligations of an Obligor or of a Person that is the subject of a pending Permitted Acquisition, in each case incurred pursuant to contracts to which such Obligor or such Person is or proposes to become a party in the ordinary course of its business or in respect of other lawful obligations of such Obligor or such Person in the ordinary course of its business, and (c) which may, at the request of the Canadian Borrower, be issued on behalf of a Person that is the subject of a pending Permitted Acquisition.
Sample 1
Facility B Letter of Credit means a Letter of Credit issued pursuant to Section 2.1(b).
Sample 1

Related to Facility B Letter of Credit

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

  • 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.

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Existing Letter of Credit means any letter of credit previously issued for the account of the Company or any other Loan Party by a Lender or an Affiliate of a Lender that is (a) outstanding on the Effective Date and (b) listed on Schedule 1.01(a).

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

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.