LOC Application definition
Examples of LOC Application in a sentence
In the event of a direct conflict between the provisions of the LOC Application and this Agreement, the provisions of this Agreement shall govern.
In the event of any inconsistency between the terms of this Agreement and any LOC Application, this Agreement shall prevail.
The representations, warranties and covenants by ACE under, and the rights and remedies of the Bank under, the LOC Application relating to any LOC are in addition to, and not in limitation or derogation of, representations, warranties and covenants by ACE under, and rights and remedies of the Bank under, this Agreement and applicable law.
If the requirements set forth in the proviso to the first sentence of Section 2.01 and in Article III are satisfied, the Bank shall issue the requested LOC on the date specified in such LOC Application.
This Agreement has been, and each other LOC Related Document to which ACE is a party has been or when delivered hereunder will have been, duly executed and delivered by ACE; this Agreement is, and each Collateral Document and each LOC Application is or when delivered hereunder will be, the legal, valid and binding obligation of ACE, enforceable against ACE in accordance with its terms.
Nothing in this Agreement shall prohibit Letter of Credit Issuer from modifying the form of the LOC Application in effect from time to time in connection with the issuance of any Letter of Credit.
In the event of a conflict between the provisions of the LOC Application and this Agreement, the provisions of this Agreement shall govern.
Prior to the issuance of any Letter of Credit, Lender shall have received an LOC Application as required by this Agreement.
Nothing in this Agreement shall prohibit the Issuing Lender from modifying the form of LOC Application in effect from time to time in connection with the issuance of any Letter of Credit, provided that, such modification does not substantially modify this Agreement to the detriment of Borrower.
Nothing in this Agreement shall prohibit the Issuing Lender from modifying the form of LOC Application in effect from time to time in connection with the issuance of any Letter of Credit, provided that, such modification does not substantially modify this Agreement to the detriment of Borrowers.