Letter of Credit Disbursement definition

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

Letter of Credit Disbursement means a US Letter of Credit Disbursement or a Canadian Letter of Credit, Disbursement, as applicable.

Letter of Credit Disbursement has the meaning specified in Section 2.03(e)(ii).

Examples of Letter of Credit Disbursement in a sentence

• Each Revolving Lender acknowledges and agrees that its obligation to deliver to Agent, for the account of Issuing Bank, an amount equal to its respective Pro Rata Share of each Letter of Credit Disbursement pursuant to this Section 2.10(e) shall be absolute and unconditional and such remittance shall be made notwithstanding the occurrence or continuation of an Event of Default or Default or the failure to satisfy any condition set forth in Section 3.

• Promptly following receipt of a notice of a Letter of Credit Disbursement pursuant to Section 2.10(d), each Revolving Lender agrees to fund its Pro Rata Share of any Revolving Loan deemed made pursuant to Section 2.10(d) on the same terms and conditions as if Borrowers had requested the amount thereof as a Revolving Loan and Agent shall promptly pay to Issuing Bank the amounts so received by it from the Revolving Lenders.

• If a Letter of Credit Disbursement is deemed to be a Revolving Loan hereunder, Borrowers' obligation to pay the amount of such Letter of Credit Disbursement to Issuing Bank shall be automatically converted into an obligation to pay the resulting Revolving Loan.

• If any such Revolving Lender fails to make available to Agent the amount of such Revolving Lender's Pro Rata Share of a Letter of Credit Disbursement as provided in this Section, such Revolving Lender shall be deemed to be a Defaulting Lender and Agent (for the account of Issuing Bank) shall be entitled to recover such amount on demand from such Revolving Lender together with interest thereon at the Defaulting Lender Rate until paid in full.

• Agent may release any cash collateral provided by Borrowers pursuant to this Section 2.2(h)(ii) to the Issuing Bank and the Issuing Bank may apply any such cash collateral to the payment of such Defaulting Lender's Pro Rata Share of any Letter of Credit Disbursement that is not reimbursed by Borrowers pursuant to Section 2.10(d).

More Definitions of Letter of Credit Disbursement

Letter of Credit Disbursement is defined in Section 2.6.2.

Letter of Credit Disbursement means an amount equal to the sum of (a) the amount drawn under any Letter of Credit in connection with a Request plus (b) all reasonable and customary out-of-pocket charges and expenses that Seller may pay or incur relative to such Request that are chargeable to the Letter of Credit Customer under the related Reimbursement Agreement.

Letter of Credit Disbursement means any payment or disbursement by Bank under any Letter of Credit.

Letter of Credit Disbursement any Construction VP Letter of Credit Disbursement, any Term VP Letter of Credit Disbursement or any Bond Letter of Credit Disbursement.

Letter of Credit Disbursement means an amount equal to the sum of (a) the amount drawn under any Letter of Credit in connection with a Request plus (b) all reasonable and customary out-of-pocket charges and expenses which Sellers may pay or incur relative to such Request which are chargeable to the Customer under the related Reimbursement Agreement.

Letter of Credit Disbursement means a payment made by the Issuing Bank to the beneficiary of, and pursuant to, a Letter of Credit. “ Letter of Credit Fees ” means the fees payable in respect of Letters of Credit pursuant to Section 2.11(c) .

Letter of Credit Disbursement means a DSR Letter of Credit Disbursement and/or PPA Letter of Credit Disbursement (as the context requires).