Letter of Credit Bank definition

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

Letter of Credit Bank means any Person having the Required Rating that has provided a Yield Supplement Letter of Credit in accordance with Section 5.1.

Letter of Credit Bank means any Person which has provided a Servicer Letter of Credit in accordance with Section 15.01.

Examples of Letter of Credit Bank in a sentence

• The Seller and the Servicer shall deposit or cause to be deposited in the Collection Account the aggregate Purchase Amount with respect to Purchased Receivables pursuant to Section 2.3, 3.7 or 9.1. The Indenture Trustee shall deposit in the Collection Account any amounts received pursuant to the Yield Supplement Agreement and any amounts received from the Letter of Credit Bank or the Yield Supplement Account pursuant to Article V on the date of receipt thereof.

• Prior to the issuance of each Letter of Credit, Bank shall have received a Letter of Credit Agreement, properly completed and duly executed by Borrower.

• The Administrative Agent shall notify BAFC, the Guarantor, the Servicer and the Collateral Agent as promptly as practicable if any Letter of Credit Bank should fail or refuse to honor a drawing under the Letter of Credit.

• The Administrative Agent shall present the Letter of Credit to the Letter of Credit Agent and receive the replacement Letter of Credit from the Letter of Credit Bank in a simultaneous exchange on the date requested by BAFC pursuant to subsection 2.01(c) of the Letter of Credit Reimbursement Agreement.

• Except when the Letter of Credit Commitment is increased or amended to reflect a change in Commitment Share or Letter of Credit Bank as set forth in the last paragraph hereof, this Letter of Credit cannot be modified or revoked without the consent of the Beneficiary.

More Definitions of Letter of Credit Bank

Letter of Credit Bank. Any bank holding company, commercial bank or trust company issuing a Letter of Credit to the Trustee.

Letter of Credit Bank means each financial institution in its capacity as a “Letter of Credit Bank” under the Letter of Credit Reimbursement Agreement, together with any successors and permitted assigns.

Letter of Credit Bank means the Bank, as issuer of the Letter of Credit, and its lawful successors and assigns, and to the extent applicable, the issuer of any Substitute Letter of Credit.

Letter of Credit Bank means the issuer thereof and its successors and assigns.

Letter of Credit Bank means CoBank.

Letter of Credit Bank means Xxxxx Fargo, in its separate capacity as issuer of the Letters of credit for the account of the Borrower pursuant to Section 2.7.

Letter of Credit Bank means Norwest, in its separate capacity as issuer of the Letters of Credit for the account of the Borrower pursuant to Section 2.6.