L/C definition

L/C has the meaning set forth in Section 2.12(a).
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L/C. Any letter of credit, the issuance of which is procured by the Administrative Agent for the account of any Borrower and any acceptance made on account of such letter of credit.
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L/C has the meaning set forth in Section 4.1(d)(vi).
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Examples of L/C in a sentence

  • The Lower-Tier REMIC will hold the Mortgage Loans and will issue the Class LA1, Class LA2, Class LA3, Class LAS, Class LB, Class LC, Class LD, Class LF, Class LG, Class LH, Class LRR and LRI Uncertificated Interests (the “Lower-Tier Regular Interests”), which will evidence the “regular interests” in the Lower-Tier REMIC created hereunder.

  • The Borrower agrees, forthwith upon demand by CIBC, to provide CIBC with cash in the proper currency to meet each drawing that CIBC is required to pay under an L/C or to reimburse CIBC for each drawing that CIBC has paid under an L/C.

  • The Cash Collateral will be held by us as security for, and may be applied to satisfy obligations under the L/C or otherwise under any Credit.

  • The Lower-Tier REMIC will hold the Mortgage Loans and the Loan REMIC Regular Interest and will issue the Class LA1, Class LA2, Class LA3, Class LAS, Class LB, Class LC, Class LD, Class LERR, Class LFRR, Class LGRR and Class LJRR Uncertificated Interests (the “Lower-Tier Regular Interests”), which will evidence the “regular interests” in the Lower-Tier REMIC created hereunder.

  • The terms and conditions of our standard Application for Irrevocable Documentary Credit or Application for Standby Letter of Credit, as applicable, and any of our other standard documentation relating to L/C’s, in effect from time to time will be applicable to each L/C whether or not any such Application or other documentation has been executed by or on behalf of the Borrower.


More Definitions of L/C

L/C or "Letter of Credit" means a standby letter of credit, letter of guarantee or commercial letter of credit denominated in Euros, Canadian Dollars or US Dollars in a form satisfactory to the Issuing Bank, issued by the Issuing Bank at the request of the Borrower in favour of a third Person to secure the payment or performance of an obligation of a Restricted Party to the third Person.
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L/C has the meaning set forth in Section 4.1(d).
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L/C has the meaning specified therefor in Section 2.11(a) of the Agreement.
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L/C has the meaning set forth in Section 2.2(a). --- --------------
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L/C. Any letter of credit, the issuance of which is procured by the Lender for the account of the Borrower and any banker’s acceptance made on account of such letter of credit.
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L/C shall have the meaning set forth in Section 1.5 hereof.
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L/C shall have the meaning ascribed thereto in Article 10.4 of this Agreement;
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