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 Issuing Lender or Underlying 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

• The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of theBorrower and designated by the Borrower in the applicable Borrowing Request; provided that Loans made to finance the reimbursement of a Letter of Credit Disbursement as provided in Section 2.08(e) shall be remitted by the Administrative Agent to the Issuer that made such Letter of Credit Disbursement.

• If theBorrower 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.

• Any payment made by a Lender pursuant to this Section 2.08(e) to reimburse any Issuer for any Letter of Credit Disbursement (other than the funding of ABR Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such Letter of Credit Disbursement.

• If any Issuer shall make any Letter of Credit Disbursement, then, until the Borrower shall have reimbursed such Issuer for such Letter of Credit Disbursement (either with its own funds or a Borrowing under Section 2.08(e)), the unpaid amount thereof shall bear interest, for each day from and including the date such Letter of Credit Disbursement is made to but excluding the date that the Borrower reimburses such Letter of Credit Disbursement, at the rate per annum then applicable to ABR Loans.

• 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 ofCredit Disbursement.

More Definitions of Letter of Credit Disbursement

Letter of Credit Disbursement means a payment made by an Issuing Bank to the beneficiary of, and 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 or disbursement made by any Issuing Bank pursuant to a Letter of Credit.

Letter of Credit Disbursement means a disbursement by the Issuing Bank to the beneficiary of a Letter of Credit in connection with a drawing thereunder.

Letter of Credit Disbursement means a payment made by the Issuer pursuant to a Letter of Credit issued by the Issuer.

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 a US Letter of Credit Disbursement and/or a Canadian Letter of Credit Disbursement, as the context requires.