IRB Letters of Credit definition

IRB Letters of Credit. Together, the New Hampshire Letter of Credit and the ECIDA Letters of Credit.

IRB Letters of Credit means letters of credit issued under the Bank Credit Agreement in respect of IRBs.

IRB Letters of Credit means, collectively, the Domestic Letters of Credit issued pursuant to this Agreement in support of industrial development revenue bonds issued in respect of projects of any L/C Account Parties.

Examples of IRB Letters of Credit in a sentence

• The IRB Letters of Credit will remain in effect each as a “Letter of Credit” hereunder.

• The Pledge and Security Agreements between each Guarantor Subsidiary which is a borrower under any IRB Documents and the Agent pursuant to which certain bonds purchased with the proceeds of Drawings under the IRB Letters of Credit would be pledged to the Agent until such bonds are remarketed or redeemed.

• The related reimbursement agreements and bond documents (as may have been previously modified), shall remain in full force and effect and shall continue to govern the IRB Letters of Credit.

• 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 stand-by letter of credit fees applicable to the IRB Letters of Credit on the first day of each fiscal quarter of Borrower thereafter, based on and equal to, the then Applicable Margin for the Libor Rate Option for and calculated on the basis of a 360-day year and actual days elapsed, and shall be payable quarterly in arrears on the first day of each fiscal quarter of the Borrower while such letters of credit are outstanding.

More Definitions of IRB Letters of Credit

IRB Letters of Credit means Letters of Credit in the aggregate face amount of $4,800,000 issued in support of outstanding industrial revenue bonds (whether by direct support or indirect support in the form of back-up letters of credit to existing letters of credit providing direct support) under which one or more of the Borrowers is obligated.

IRB Letters of Credit. “New Hampshire Bond Project” and “New Hampshire Letter of Credit”, and all references to such terms in the Credit Agreement shall be removed.

IRB Letters of Credit means (a) the Irrevocable Transferable Letter of Credit bearing Number 940856 in the initial stated amount of $6,069,402.74, and dated Xxxxxx 00, 0000, (x) the Irrevocable Transferable Letter of Credit bearing Number 940857 in the initial stated amount of $4,217,720.55, and dated August 10, 1998, and (c) any Bond LC’s; together with any extension, renewal, modification or amendment thereof or any replacement or substitution of any of the foregoing.

IRB Letters of Credit means, collectively, that certain (i) letter of credit in the original amount of $1,847,300 bearing an L/C No. S243626 SCP, as amended from time to time, issued by PNC in favor of Municipal Agency, and (ii) letter of credit in the amount of $3,547,945 bearing an L/C No. S247779 SCP, as amended from time to time, issued by PNC in favor of Municipal Agency.

IRB Letters of Credit means, collectively, the three irrevocable letters of credit issued by LaSalle Bank National Association, each dated December 24, 2001, naming Bank One, Michigan, as successor Trustee, as beneficiary, which irrevocable letters of credit are designated as No. S532616 in the stated amount of $4,118,357, No. S532618 in the stated amount of $5,147,946 and No. S532619 in the stated amount of $3,088,768, as the same may from time to time be modified, amended or extended.”

IRB Letters of Credit. The two presently outstanding letters of credit in the approximate amount of $6,386,301 and $6,553,000 issued by HSBC Bank for the account of the Company to support the New Hampshire Bond Project and the ECIDA Bond Project.

IRB Letters of Credit means those certain irrevocable Letters of Credit issued by Bank of America, as Issuing Lender, in substitution of certain irrevocable letters of credit issued by Bank One, NA (formerly known as The First National Bank of Chicago) as more specifically set forth on Schedule 8.1.