Examples of IRB Letter of Credit in a sentence
Each Letter of Credit shall be denominated in dollars and shall be a either a direct pay IRB Letter of Credit, a direct pay letter of credit supporting bond related Indebtedness similar to the IRB Letters of Credit or a standby letter of credit issued to support the obligations of Borrower in connection with Permitted Developments.
The Borrower hereby authorizes the Agent to debit the IRB Indebtedness Account on each Drawing Date as necessary to reimburse the Agent for each draft paid by the Agent pursuant to any IRB Letter of Credit.
On or before each date on which there is scheduled to be a Drawing under any IRB Letter of Credit pursuant to the IRB Documents, the Borrower will deposit in the IRB Indebtedness Account sufficient funds such that there will be available therein on the applicable Drawing Date the amount needed to reimburse the Agent for the amount of such Drawing.
Close technical cooperation and coordination between the Länder and the federal Ministries responsible for these measures is indispensable to take appropriate account of regional structures during the implementation phase and is provided for in the plan through regular coordination meetings, as requested by the Länder, organised by the coordination unit.
Except as modified by the provisions of this Section 2, Section 3.01 and as set forth in the respective amendments (or terminations) delivered pursuant to Section 5.06(b) of the Existing Credit Agreement, the provisions of the Existing CoreStates IRB Letter of Credit Reimbursement Agreement shall continue to apply to the Existing CoreStates IRB Letter of Credit.