HSBC Letter of Credit definition

HSBC Letter of Credit means the letter of credit issued by HSBC Bank in favor of the landlord with respect to the Borrower’s leased real property located at 0000 Xxxxxxxxxx Xxxxxx, Xxx. 000 / Building 200, Birmingham, AL 35244, in an aggregate face amount equal to One Million Four Hundred Thousand Dollars ($1,400,000).
Sample 1
HSBC Letter of Credit means the letter of credit issued by HSBC Bank in favor of the landlord with respect to the Seller’s leased real property located at 2100 Riverchase Center, Ste. 200 / Building 200, Birmingham, AL 35244, in an aggregate face amount equal to One Million Four Hundred Thousand Dollars ($1,400,000).
Sample 1Sample 2
HSBC Letter of Credit means the Letter of Credit issued by HSBC Bank USA, N.A. in the amount of Three Hundred Sixty-Five Thousand Dollars ($365,000) for the benefit of RLI Insurance Company, as amended, restated or modified from time to time.
Sample 1

Examples of HSBC Letter of Credit in a sentence

  • Each HSBC Letter of Credit shall be deemed issued as a Letter of Credit on the Closing Date (subject to the conditions precedent to closing and the conditions precedent to each extension of credit being satisfied).

  • The Existing HSBC Letter of Credit shall constitute a “Letter of Credit” for all purposes of this Agreement and the other Loan Documents and shall be deemed issued hereunder on the Closing Date by HSBC.

  • Within five (5) days of the effective date of the First Amendment, Borrowers will send a written request to the J&S Entities requesting that the J&S Entities secure a replacement letter of credit for that portion of the HSBC Letter of Credit that is commensurate with the J&S Entities’ (including any successors in interest to the J&S Entities) respective proportionate share of the Properties.

  • Upon compliance by the J&S Entities of the above request, the Borrowers shall then immediately effect a reduction of the HSBC Letter of Credit in a like amount.

  • On the other hand, if you want students to generate questions about a problem in science, you might have them use the Reasons Q-Strips or the Means Q-Strips.


More Definitions of HSBC Letter of Credit

HSBC Letter of Credit means the letter of credit issued by HSBC Bank in favor of the landlord with respect to the Seller’s leased real property located at 0000 Xxxxxxxxxx Xxxxxx, Xxx. 000 / Building 200, Birmingham, AL 35244, in an aggregate face amount equal to One Million Four Hundred Thousand Dollars ($1,400,000).
Sample 1

Related to HSBC Letter of Credit

  • 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.

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

  • 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.

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

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

  • 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.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

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

  • 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.

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

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • 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.

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or any of its Subsidiaries in the ordinary course of its business.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

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

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • 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.

  • 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.

  • 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.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • 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.

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

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • 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.