Letter of Credit Disbursement definition

Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.
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Letter of Credit Disbursement means a payment made by the Issuing Bank to the beneficiary of, and pursuant to, a Letter of Credit.
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Letter of Credit Disbursement means a US Letter of Credit Disbursement or a Canadian Letter of Credit, Disbursement, as applicable.
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Examples of Letter of Credit Disbursement in a sentence

  • Each Revolving Lender acknowledges and agrees that its obligation to deliver to the Agent, for the account of the L/C Issuer, an amount equal to its respective Applicable Percentage of each Letter of Credit Disbursement pursuant to this Section 2.03(e) shall be absolute and unconditional and such remittance shall be made notwithstanding the occurrence or continuation of a Default or Event of Default or the failure to satisfy any condition set forth in Section 4.02 hereof.

  • If a Letter of Credit Disbursement is deemed to be a Revolving Loan hereunder, the Borrower’s obligation to pay the amount of such Letter of Credit Disbursement to the L/C Issuer shall be automatically converted into an obligation to pay the resulting Revolving Loan.

  • If any such Revolving Lender fails to make available to the Agent the amount of such Revolving Lender’s Applicable Percentage of a Letter of Credit Disbursement as provided in this Section 2.03(e), such Revolving Lender shall be deemed to be a Defaulting Lender and the Agent (for the account of the L/C Issuer) 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.


More Definitions of 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 that Seller may pay or incur relative to such Request that are chargeable to the Letter of Credit Customer under the related Reimbursement Agreement.
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Letter of Credit Disbursement has the meaning specified in Section 2.03(e)(ii).
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Letter of Credit Disbursement is defined in Section 2.6.2.
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Letter of Credit Disbursement means a payment made by the Issuing Bank pursuant to a Letter of Credit. “Letter of Credit Fees” means the fees payable in respect of Letters of Credit pursuant to Section 2.14.
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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.
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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.
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Letter of Credit Disbursement means a payment by L/C Issuer pursuant to a Letter of Credit.
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