Fronting Agreement definition

Fronting Agreement means an agreement between any Non-NAIC Qualified Lender and any Non-NAIC Fronting Bank that such Non-NAIC Fronting Bank will itself honor the obligations of such Non-NAIC Qualified Lender in respect of a draft complying with terms of a Syndicated Letter of Credit as if, and to the extent, such Non-NAIC Fronting Bank were the LC Issuer originally named on such Syndicated Letter of Credit in substantially the form of Exhibit G.
View Source
Fronting Agreement means that certain Fronting Agreement of even date herewith by and among Buyer, Motors, Integon, MIC P&C, Integon National and Integon Preferred.
View Source
Fronting Agreement means that certain Fronting Agreement of even date herewith by and among Buyer, the Company, Motors Insurance Corporation, MIC Property and Casualty Insurance Corporation, Integon National Insurance Company and Integon Preferred Insurance Company.
View Source

Examples of Fronting Agreement in a sentence

  • In connection with the execution or termination of any Fronting Agreement, the LC Administrator is authorized to amend or replace each outstanding Syndicated Letters of Credit to add or remove the applicable Lender and Fronting Lender, as the case may be.

  • Under the terms of the Fronting Agreement, the Financing Investors have secured bank loans granted by the Bank to the Company by pledging bank account balances (Kontoguthaben) (the “Pledge Accounts”) to the Bank.

  • The acquisition of such outstanding bank debt has been effected by offsetting an amount of EUR 215,532 in the Pledge Accounts (as set out in the Fronting Agreement) against such outstanding debt of EUR 215,532.

  • If any Lender shall enter into a Fronting Agreement hereunder at any time, it shall promptly furnish a copy thereof to the Borrower and the Administrative Agent.

  • If any Lender shall enter into a Fronting Agreement hereunder at any time, it shall promptly furnish a copy thereof to the Company and the Administrative Agent.

  • Each Revolving Lender in respect of the issuance of Letters of Credit agrees to use commercially reasonable efforts in order to, at all times, (i) be listed on the NAIC Approved Bank List or (ii) maintain in effect a Limited Fronting Agreement with a Limited Fronting Lender.


More Definitions of Fronting Agreement

Fronting Agreement has the meaning set forth in the recitals.
View Source