LC Term definition

LC Term means, in respect of a Letter of Credit, the period during which the Issuing Bank may be under a liability under such Letter of Credit.
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LC Term means the period commencing upon the Title Commitment Outside Delivery Date and continuing until no Major Title Breaches or Minor Title Breaches exist, as evidenced by the removal of any exception of such Title Support Breach from Title Commitment or Title Insurance Policy (either directly or through an endorsement thereto) or the Survey.
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LC Term has the meaning set forth in Section 10.10(b).
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Examples of LC Term in a sentence

  • Each L/C provided pursuant to this section shall have an expiration date which is at least one (1) year from such L/C’s date of issue except where the then-applicable expiration date of the L/C is less than one (1) year from the end of the L/C Term, in which case the renewal or replacement L/C shall be for such lesser period.

  • If the expiration date of the L/C (or any renewal or replacement L/C provided pursuant to this section) occurs prior to the end of the L/C Term, then Lessee shall deliver to Lessor a renewal of the L/C or a replacement L/C meeting all of the terms and conditions of this section, not later than sixty (60) days prior to the then-applicable expiration date.

  • If the expiration date of the Letter of Credit (or any renewal or replacement Letter of Credit provided pursuant to this section) occurs prior to the end of the L/C Term, then Tenant shall deliver to Landlord a renewal of the Letter of Credit or a replacement Letter of Credit meeting all of the terms and conditions of this section, not later than thirty (30) days prior to the then-applicable expiration date.

  • Tenant hereby covenants and agrees to take all necessary actions to keep the Letter of Credit in place and in full force and effect through the expiration of the L/C Term, pursuant to and in accordance with Section 2 (Renewal of L/C) of Exhibit F attached to the Master Lease.

  • At the end of the LC Term, any outstanding Letters of Credit shall be canceled.

  • At all times during the LC Term, Seller shall maintain Acceptable Letter(s) of Credit in favor of Buyer and in an aggregate amount not less than the Required LC Amount.

  • Liability of NFL shall be restricted to the amount of GST only, and any interest/ penalty etc.

  • Seller may, in its sole discretion, throughout the LC Term, replace Letters of Credit with other Acceptable Letters Credit.

  • The Borrowers shall have the right at any time and from time to time to prepay any Synthetic LC Term Loans in whole or in part, without premium or penalty, subject to prior notice in accordance with paragraph (c) of this Section 3.10.

  • Each Synthetic LC Lender shall maintain in accordance with its usual practice records evidencing the indebtedness of each Borrower to such Lender resulting from each Synthetic LC Term Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.


More Definitions of LC Term

LC Term. With respect to any Letter of Credit, the period commencing on the LC Issuance Date thereof and ending on the Expiry Date thereof.
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Related to LC Term

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Extension Term means the time period defined in §2.C.

  • Basic Term shall have the meaning specified in Section 2.2 of the Lease.

  • Credit Period has the meaning given to it in Section 42(f)(1) of the Code.

  • Renewal Term has the meaning set forth in Section 2.

  • Letter of Credit Termination Date means the later of (i) that date upon which the Letter of Credit shall expire or terminate pursuant to its terms, or (ii) that date to which the expiration or termination of the Letter of Credit may be extended, from time to time, either by extension or renewal of the existing Letter of Credit or the issuance of a Substitute Letter of Credit.

  • Original Term shall have the meaning specified in Section 10 hereof.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Facility Period means the period starting on the date of this Agreement and ending on such date as all obligations whatsoever of all of the Security Parties under or pursuant to the Security Documents whensoever arising, actual or contingent, have been irrevocably paid, performed and/or complied with;

  • Revolving Facility Termination Date means the earlier of (i) December 20, 2026, or (ii) the date that the Revolving Commitments have been terminated pursuant to Section 8.02.

  • Letter of Credit Expiration Date means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Additional Term shall have the meaning set forth in Section 8.2.

  • Initial Term has the meaning set forth in Section 7.1.

  • Revolving Commitment Termination Date means the earliest of (i) July 31, 2018, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.8 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise).

  • Revolving Commitment Period the period from and including the Closing Date to the Revolving Termination Date.

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Revolving Loan Commitment Termination Date means the earliest of

  • Commitment Period means the period commencing on the earlier to occur of (i) the Effective Date, or (ii) such earlier date as the Company and the Investor may mutually agree in writing, and expiring on the earliest to occur of (x) the date on which the Investor shall have made payment of Advances pursuant to this Agreement in the aggregate amount of Five Million Dollars ($5,000,000), (y) the date this Agreement is terminated pursuant to Section 2.5, or (z) the date occurring twenty-four (24) months after the Effective Date.

  • Agreement Term has the meaning set forth in Section 11.1.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Revolving Credit Commitment Termination Date means the earliest to occur of (i) other than with respect to Extended Revolving Credit Commitments, August 28, 2022, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, (iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2, and (iv) solely with respect to any Extended Revolving Credit Commitments, the applicable Extended Maturity Date.

  • Commitment Termination Date means the earlier of (a) the Maturity Date and (b) the earlier termination in whole of the Commitments pursuant to Section 2.04 or Article VII.

  • Agreement Period means the time period specified in Article IV, Paragraph A, herein.