Letter-of-Credit Right definition

Letter-of-Credit Right means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.

Letter-of-Credit Right means “letter-of-credit right” as defined in Article 9 of the UCC.

Letter-of-Credit Right has the meaning set forth in Article 9 of the UCC.

Examples of Letter-of-Credit Right in a sentence

• The following terms which are defined in the Uniform Commercial Code are used herein as so defined: Account, Chattel Paper, Commercial Tort Claim, Deposit Account, Document, Electronic Chattel Paper, Financial Asset, Fixtures, General Intangible, Instrument, Inventory, Investment Property, Letter-of-Credit Right, Money, Payment Intangible, Promissory Note, Records, Securities Account, Security Entitlement, Supporting Obligation and Tangible Chattel Paper.

• Without limiting the foregoing the following terms are used herein as defined in the U.C.C.: Account, Authenticate, Certificated Securities, Chattel Paper, Commercial Tort Claim, Commodities Accounts, Control, Documents, Electronic Chattel Paper, Entitlement Holder, Entitlement Orders, Fixtures, Goods, Instruments, Investment Property, Letter-of-Credit Right, Money, Payment Intangibles, Security Entitlements, Uncertificated Securities and Tangible Chattel Paper.

• The following terms have the meanings given to them in the UCC (as defined below): Account, Chattel Paper, Commercial Tort Claim, Commodity Accounts, Deposit Account, Document, Electronic Chattel Paper, Equipment, Fixtures, General Intangible, Goods, Instrument, Inventory, Investment Property, Letter-of-Credit Right, Payment Intangible, Proceeds, Securities Account, Security, Supporting Obligation and Tangible Chattel Paper.

• Without limiting the generality of the foregoing, the following terms shall have the meaning ascribed to them in the UCC: Account, Chattel Paper, Commercial Tort Claim, Commodity Account, Deposit Account, Document, Electronic Chattel Paper, Equipment, Fixtures, Goods, General Intangible, Instrument, Inventory, Investment Property, Letter-of-Credit Right, Payment Intangible, Proceeds, Securities Account, Software and Supporting Obligations.

• The terms "Account Debtor", "Chattel Paper", "Commercial Tort Claim", "Control", "Deposit Accounts", "Documents", "Electronic Chattel Paper", "Fixtures", "General Intangibles", "Goods, Instruments", "Inventory", "Investment Property", "Letter-of-Credit Right", "Proceeds", "Securities Account", "Security Certificate", "Intangible Chattel Paper", and any other term defined in the Code and used herein without definition shall have the meaning given to the term in the Code.

More Definitions of Letter-of-Credit Right

Letter-of-Credit Right means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance.

Letter-of-Credit Right. “proceeds”, “record”, “securities account”, “security”, “supporting obligation” and “tangible chattel paper”.

Letter-of-Credit Right means a right to payment or

Letter-of-Credit Right. Has the meaning given that term in UCC and also refers to any right to payment or performance under an L/C, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance.

Letter-of-Credit Right means any “letter-of-credit right”, as such term is defined in the UCC.

Letter-of-Credit Right means a right to payment or performance under a letter of

Letter-of-Credit Right means any "Letter of credit right," as such term is defined in the UCC, now owned or hereafter acquired by the Debtor or in which the Debtor now holds or hereafter acquires any interest, including any right to payment or performance under any letter of credit.