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 payment made by the L/C Issuer pursuant to a Letter of Credit.
Letter of Credit Disbursement means a payment made by Lender pursuant to a Letter of Credit.

Examples of Letter of Credit Disbursement in a sentence

  • Any Letter of Credit Disbursement not reimbursed by the Borrower or funded as a Loan prior to 2:00 p.m., New York time, shall bear interest for such day at the ABR plus the Applicable Margin.

  • 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.

  • If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Lender of the applicable Letter of Credit Disbursement, the payment then due from the Borrower in respect thereof and such Lender’s Applicable Percentage thereof.

  • Such Issuer shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of such demand for payment and whether such Issuer has made or will make a Letter of Credit Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse such Issuer and the Lenders with respect to any such Letter of Credit Disbursement.

  • 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.


More Definitions of Letter of Credit Disbursement

Letter of Credit Disbursement means a US Letter of Credit Disbursement or a Canadian Letter of Credit, Disbursement, as applicable.
Letter of Credit Disbursement means a payment made by the Letter of Credit Issuer pursuant to a Letter of Credit.
Letter of Credit Disbursement has the meaning specified in Section 2.03(e)(ii).
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 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.