Examples of Letter of Credit Note in a sentence
The Letter of Credit Obligations will be evidenced by the Letter of Credit Note.
Landscaping and Engineering).There are two alternatives for calculating the amount of the required Letter of Credit: *Note: For properties located in the Ancaster Existing Residential “ER” Zone, please refer to Part A, Section 11.
However, each Letter of Credit Note will evidence Borrower’s obligation to repay the lesser of the stated principal amount thereof or the unreimbursed amount (the “Unreimbursed Amount”) of any drawing actually paid by Lender under a Letter of Credit, in accordance with Section 4.3. All references to “Advances” in Sections 2.4, 3.1 and 3.2 shall, with respect to a Letter of Credit Advance, refer solely to the outstanding Unreimbursed Amount(s) evidenced by the corresponding Letter of Credit Note.
In no event shall the Letter of Credit Liabilities ever exceed the amount of the Letter of Credit Tranche; and the sum of (i) the outstanding principal balance of the Letter of Credit Note and (ii) any Letter of Credit Liabilities, shall not ever exceed the Maximum Loan Amount applicable to the Letter of Credit Tranche as set forth in the definition of Maximum Loan Amount.
Receipt by the Agent of a borrowing base certificate, payoff figures with per diems of all debt being refinanced as described in Exhibit E, and a Letter of Credit Note, if applicable.