Letter of Credit Drawing definition

Letter of Credit Drawing means a Bond Payment Drawing or Enhanced Custody Receipt Mandatory Tender Drawing.
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Letter of Credit Drawing. As defined in Section 3.27(b) of the Indenture.
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Letter of Credit Drawing means any drawing under a Letter of Credit.
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Examples of Letter of Credit Drawing in a sentence

  • The making of a Letter of Credit Drawing does not relieve the Issuer of any obligation under any Note, this Indenture or any other Basic Document.

  • The terms of any letter of credit required by Company shall conform to the attached Exhibit , Letter of Credit Terms/Form of Acceptable Letter of Credit, Drawing Certificate and Transfer Certificate, as well as the requirements of this Contract and be issued by a bank acceptable to Company.

  • Pursuant to the Fiscal Agent Agreement, the Fiscal Agent must demand payment by the Credit Bank under the Letter of Credit of the amount specified in the Letter of Credit which is the amount necessary to pay principal of and interest on the Notes (the “Letter of Credit Drawing”) at their maturity and the Fiscal Agent must use the Letter of Credit Drawing for such purpose.

  • The Indenture Trustee shall notify the Servicer and the Control Party on the date on which it makes a Letter of Credit Drawing.

  • Upon any such sale by an Issuing Bank to any Lender of a participation in an unreimbursed Letter of Credit Drawing, such Issuing Bank represents and warrants to such Lender that such Issuing Bank is the legal and beneficial owner of such interest being assigned by it, but makes no other representation or warranty and assumes no responsibility with respect to such Letter of Credit Drawing, the Loan Documents or any Loan Party.

  • In the event the Borrower fails to reimburse the Agent for the full amount of any drawing under any Letter of Credit by such time, the Agent shall promptly notify each Lender thereof, and the Borrower shall be deemed to have requested that Revolving Loans without a Libor Rate Election be made by the Lenders to be disbursed on the related Letter of Credit Drawing Date under such Letter of Credit.

  • Pursuant to the Fiscal Agreement, the Fiscal Agent must demand payment by the Credit Bank under the Letter of Credit of the amount specified in the Letter of Credit which is the amount necessary to pay principal of and interest on the Notes (the “Letter of Credit Drawing”) at their maturity and the Fiscal Agent must use the Letter of Credit Drawing for such purpose.

  • In the event that there are one or more drawings on the Letter of Credit, in part or in whole, on or before December 31, 1997 (the "Letter of Credit Drawing"), then on December 31, 1997 the Bank shall return promptly the remaining portion of the Cash Collateral to the Investor (the portion drawn down or not returned being referred to as the "Unreturned Cash Collateral").

  • The terms of any letter of credit required by Company shall conform to the attached Exhibit __, Letter of Credit Terms/Form of Acceptable Letter of Credit, Drawing Certificate and Transfer Certificate, as well as the requirements of this Contract and be issued by a bank acceptable to Company.

  • Each Revolving Lender agrees to purchase a participation in the amount of its Revolving Pro Rata Share of an unreimbursed Letter of Credit Drawing on (A) the Business Day on which demand therefor is made by the Issuing Bank that paid such Letter of Credit Drawing, provided that notice of such demand is given not later than 2:00 p.m. (New York -------- City time) on such Business Day, or (B) the first Business Day next succeeding such demand if notice of such demand is given after such time.


More Definitions of Letter of Credit Drawing

Letter of Credit Drawing means a payment made by an Issuing ------------------------ Bank against a drawing under a Letter of Credit.
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Letter of Credit Drawing means a Revolving Credit Letter of Credit Drawing or a Tranche D Term Letter of Credit Drawing.
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Letter of Credit Drawing has the meaning set forth in Section 303(b) ------------------------ of the Indenture.
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Related to Letter of Credit Drawing

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

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

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • 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.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

  • 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.

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

  • 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 Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • 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 Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

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

  • 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.

  • 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.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.