Fleet Letters of Credit definition

Fleet Letters of Credit means (a) the Letter of Credit issued by Fleet Bank in connection with the $5,500,000 original aggregate principal amount of Economic Development Revenue Bonds (PVC Container Corporation Project) Series 1996 issued by the South Carolina Jobs - Economic Development Authority, and (b) the Letter of Credit issued by Fleet Bank in connection with the $7,250,000 Hazxxxxx Xxea Industrial Development Authority Revenue Note (PVC Container Corporation Project) Series of 1998.
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Fleet Letters of Credit means letters of credit, denominated in United States dollars and issued directly or indirectly for the account of Waste Management or any of its subsidiaries or affiliates by Fleet.
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Fleet Letters of Credit means Letters of Credit procured by Fleet Capital from Fleet National Bank for any Borrower's account after the Petition Date.
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Examples of Fleet Letters of Credit in a sentence

  • A portion of such Letter of Credit Fees equal to (i) 1/4% per annum of the average daily Maximum Drawing Amount under all Fleet Letters of Credit shall be payable to Fleet for its own account, and (ii) 1/4% per annum of the average daily Maximum Drawing Amount under all Letters of Credit other than the Fleet Letters of Credit shall be payable to LaSalle for its own account.

  • Any payments made by Fleet Capital, with respect to Fleet Letters of Credit, or by Congress, with respect to Congress Letters of Credit, to any issuer thereof and/or related parties in connection with the Letter of Credit Accommodations shall constitute additional Revolving Loans to Borrowers pursuant to this SECTION 2.

  • The Existing Fleet Letters of Credit were deemed to be Letters of Credit pursuant to the Original UK Credit Agreement.

  • As of the Closing Date, the Fleet Letters of Credit shall be deemed to be Letters of Credit issued pursuant and subject to the conditions of this Section 4 and the Borrower hereby affirms its obligations thereunder.

  • Rosen Title: Vicx Xxxxxxxxx THE BANK OF NEW YORK, as Trustee By: MARIE E.

  • The parties hereby agree that the Fleet Letters of Credit and the Existing Letters of Credit shall not constitute Letters of Credit for purposes of this Agreement to the extent such Fleet Letters of Credit and Existing Letters of Credit are supported by cash collateral or other letters of credit in a manner satisfactory to the Agents.


More Definitions of Fleet Letters of Credit

Fleet Letters of Credit means the letters of credit described in Schedule 6.01(q)(ii) issued by Fleet.
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Fleet Letters of Credit is defined in Section 2.4(a).
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Related to Fleet Letters of Credit

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

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

  • 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.

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

  • 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.

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

  • 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 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.

  • 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.

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

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

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

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • 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.

  • 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.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • 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.

  • 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.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • 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.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

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

  • 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.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.