Letter of Credit Guaranty definition

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.

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Letter of Credit Guaranty means the guaranty delivered by CIT to the Letter of Credit Issuer, guaranteeing the Borrower's reimbursement obligations under a reimbursement agreement, Letter of Credit Application or other like document.

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 Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

Examples of Letter of Credit Guaranty in a sentence

• All Letter of Credit Guaranty Fees shall be due and payable monthly on the first day of each month.

• In the event that the Administrative Agent makes any payment in respect of the Letter of Credit Guaranty and the Borrower shall not have repaid such amount to the Administrative Agent, the Administrative Agent shall charge the Loan Account in the amount of the Reimbursement Obligation, in accordance with Sections 3.01(c) and 4.02 of this Agreement.

• Borrower acknowledges and agrees that Bank shall have no obligation to issue any Letter of Credit or any Letter of Credit Guaranty which provides for an expiration date later than thirty (30) days prior to the Revolving Credit Termination Date.

• Borrower assumes all risks of the acts or omissions of a Beneficiary or transferee of a Letter of Credit or Letter of Credit Guaranty with respect to its use of the Letter of Credit or Letter of Credit Guaranty.

• For each documentary Letter of Credit, the entire Letter of Credit Guaranty Fee shall be payable in advance, and for each standby Letter of Credit, the Letter of Credit Guaranty fee shall be payable monthly on the first day of each month.

More Definitions of Letter of Credit Guaranty

Letter of Credit Guaranty has the meaning assigned to such term in Section 2.06(a).

Letter of Credit Guaranty means the guaranty delivered by the Agent in behalf of the Lenders to the Issuing Bank of a Company's reimbursement obligation under the Issuing Bank's reimbursement agreement, Application for Letter of Credit or other like document.

Letter of Credit Guaranty. FEE shall mean the fee that the Agent, for the benefit of the Lenders, may charge the Companies under Section 8.4 of this Financing Agreement for issuing a Letter of Credit Guaranty or otherwise assisting the Companies in obtaining Letters of Credit.

Letter of Credit Guaranty means a guaranty issued by Bank ------------------------- or a Bank Affiliate to guaranty the payment of a letter of credit to a Bank which has issued such letter of credit for the account of Borrower or a Subsidiary of Borrower.

Letter of Credit Guaranty. Fee shall mean the fee the Lender may charge the Companies under Paragraph 8.3 of Section 8 of this Financing Agreement for: (a) issuing a Letter of Credit Guaranty, and/or (b) otherwise aiding the Companies in obtaining Letters of Credit, all pursuant to Section 5 hereof.

Letter of Credit Guaranty. Fee shall mean the fee CIT may charge the Company under Paragraph 8.3 of this Agreement for issuing a Letter of Credit Guaranty.

Letter of Credit Guaranty shall have the meaning provided in the definition of Issuing Lender.