Letter of Credit Currency definition

Letter of Credit Currency means each Applicable Currency and any other freely available currency notified to the Agent and Issuing Bank upon not less than ten (10) Business Days' prior written notice that in the opinion of the Required Lenders, in their reasonable discretion, is at such time freely traded in the offshore interbank foreign exchange markets and is freely transferable and convertible into US Dollars in the United States currency market.
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Letter of Credit Currency has the meaning specified in Section 1.04(b).
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Letter of Credit Currency has meaning set forth in Section 1.04(b). ------------------------- ---------------
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Examples of Letter of Credit Currency in a sentence

  • An Issuing Bank may grant or accept such a request in its sole discretion, and Borrower understands that there is no commitment by or understanding with any Issuing Bank with respect to approving any Agreed Alternate Letter of Credit Currency.

  • Letter of Credit Currency the currency of the Guaranteed Receivables specified in the Guarantee Agreement.

  • The parties will meet to discuss the dispute no later than 30 days after either party gives written notice to the other party that such a dispute exists.

  • Legal provisions adopted in the country of the Issuing Bank declaring payment made by the Issuing Bank in local currency to be a valid discharge of the Letter of Credit, notwithstanding that, as a result of fluctuations in exchange rates, such payments, when converted into the Letter of Credit Currency do not cover the amount of the Letter of Credit at the date of transfer of funds.

  • Strengthening the capacity of the constituents to apply the principle of equal remuneration for men and women for work of equal value will also continue.344.

  • Finnvera shall pay the indemnification in the Letter of Credit Currency.

  • Singapore Dollars Fixed Deposit (Amount): ACU Deposit (Currency and Amount): Deposit Registered Owner: Deposit Registered Owner: Structured Deposit (Currency and Amount): ; Tenor Deposit Registered Owner: Banker’s Guarantee Amount: Standby Letter of Credit (Currency and Amount): Financial Institution: Financial Institution : Corporate Guarantee: Name: ; Reg.

  • Each Letter of Credit shall provide for payments of drawings in a Permitted Letter of Credit Currency.

  • As a result, the internationally-agreed statistical methodologies will almost always be somewhat out of date or incomplete as they are bound to lag behind the changes in the economy.


More Definitions of Letter of Credit Currency

Letter of Credit Currency means Australian Dollars, US Dollars, Hong Kong Dollars, Singapore Dollars, British Pounds Sterling and any other freely available currency notified to the US Facility Agent and Issuing Bank upon not less than ten (10) Business Days' prior written notice that in the opinion of the Required Lenders, in their sole discretion, is at such time freely traded in the offshore interbank foreign exchange markets and is freely transferable and convertible into US Dollars in the United States currency market.
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Letter of Credit Currency means (a) Dollars, (b) so long as such currency is freely convertible into Dollars, any of the lawful currencies of Australia, Brazil, Canada, Hungary, India, Japan, New Zealand, Singapore, Switzerland and the United Kingdom of Great Britain and Northern Ireland, Euros and (c) such other currencies that are freely convertible into Dollars as are mutually agreed to by the Issuing Bank issuing the Letter of Credit to be denominated in such other currency, the Agent and the Company.
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Letter of Credit Currency means each Agreed Currency and any additional currencies determined after the Effective Date by mutual agreement of the Borrower, the applicable Issuing Bank and the Administrative Agent; provided that each such currency is a lawful currency that is readily available, freely transferrable and not restricted and able to be converted into Dollars. “Leverage Ratio” has the meaning assigned to such term in Section 6.09(a). “Leveraged Lease” means a lease transaction in which the lessor has borrowed a portion of the acquisition cost of the asset leased by the lessee on a non-recourse basis and the lender obtains an assignment of the lease and a mortgage or security interest in the leased asset as collateral for such Indebtedness. “Liabilities” means any losses, claims (including intraparty claims), demands, damages or liabilities of any kind. “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing
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Related to Letter of Credit Currency

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Alternate Currency means (i) with respect to any Letter of Credit, Canadian Dollars and any other currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Bank with respect thereto and all respective Lenders of such Facility with respect thereto in their sole discretion and (ii) with respect to any Loan, any currency other than Dollars that is approved in accordance with Section 1.05.

  • Applicable Currency means, as to any particular payment or Loan, Dollars or the Offshore Currency in which it is denominated or is payable.

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

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Quote Currency means the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.

  • Approved Currency means each of Dollars and each Alternative Currency.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.06.

  • Domestic Currency means the currency specified as such and any successor currency. If no currency is so specified, the Domestic Currency shall be the lawful currency and any successor currency of (i) the relevant Reference Entity, if the Reference Entity is a Sovereign, or (ii) the jurisdiction in which the relevant Reference Entity is organised, if the Reference Entity is not a Sovereign. In no event shall Domestic Currency include any successor currency if such successor currency is the lawful currency of any of Canada, Japan, Switzerland, the United Kingdom or the United States of America or the euro (or any successor currency to any such currency).

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.