Letters of Credit definition

Letters of Credit as defined in Section 3.1(a).

Letters of Credit has the meaning specified in Section 2.01(b).

Letters of Credit shall have the meaning set forth in Section 2.9.

Examples of Letters of Credit in a sentence

• Any such termination shall become effective upon the earlier of (i) such Issuing Bank’s acknowledging receipt of such notice and (ii) the fifth Business Day following the date of the delivery thereof; provided that no such termination shall become effective until and unless the LC Exposure attributable to all Letters of Credit issued by such Issuing Bank (or its Affiliates) shall have been reduced to zero.

• The proceeds of the Revolving Loans, Letters of Credit, and Swing Loans drawn after the Closing Date will be used only for ongoing working capital, capital expenditures, general corporate purposes and any other purpose not prohibited by this Agreement.

• As between the Borrower and the Issuing Bank, the Borrower assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued by the Issuing Bank and the proceeds thereof, by the respective beneficiaries of such Letters of Credit or any assignees or transferees thereof.

More Definitions of Letters of Credit

Letters of Credit shall have the meaning assigned thereto in Section 3.1.

Letters of Credit means the collective reference to letters of credit issued pursuant to Section 3.1 and the Existing Letters of Credit.

Letters of Credit means documentary or standby letters of credit issued for the account of Borrower by any L/C Issuer, and bankers' acceptances issued by Borrower, for which Agent and Lenders have incurred Letter of Credit Obligations.

Letters of Credit means Commercial Letters of Credit and Standby Letters of Credit issued or to be issued by Issuing Lenders for the account of Company pursuant to subsection 3.1.

Letters of Credit means the letters of credit issued pursuant to this Agreement, and the term “Letter of Credit” means any one of them or each of them singularly, as the context may require.

Letters of Credit. “Money”; “Payment Intangibles”; “Proceeds”; “ Records”; “Securities Account”; “Securities Intermediary”; “Security Entitlement”; “Supporting Obligations”; and “Tangible Chattel Paper.”

Letters of Credit means any letter of credit issued by the Issuing Lender pursuant to the terms hereof, as such Letters of Credit may be amended, modified, extended, renewed or replaced from time to time.