Long Tenor Letter of Credit definition

Long Tenor Letter of Credit any (a) Trade Letter of Credit that is a Working Capital Facility Letter of Credit that is initially issued with a maximum tenor of more than ninety (90) days but less than three hundred sixty-four (364) days and (b) Auto-Renewal Letter of Credit.
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Long Tenor Letter of Credit any Trade Letter of Credit that is a Working Capital Facility Letter of Credit that is issued to support the purchase of Eligible Commodities that is (a) initially issued with a maximum tenor of more than ninety (90) days but less than one (1) year or (b) an Auto-Renewal Letter of Credit. “Maine Dock Liability Obligations”: indebtedness of the U.S. Borrower with respect to the State of Maine Port Authority dock liability in an aggregate principal amount of $9,280,594 as of September 30, 2014 (which amount may be reduced (but not increased) from time to time). “Majority Facility Lenders”: at any time, (a) with respect to the Acquisition Facility, Lenders having Acquisition Facility Credit Exposure Percentages which aggregate more than 50%; provided, that the Acquisition Facility Credit Exposure of any Defaulting Lender shall be excluded from the calculation of Acquisition Facility Credit Exposure Percentages in determining the Majority Facility Lenders, (b) with respect to the Dollar Working Capital Facility Committed Tranche, Lenders having Dollar Working Capital Facility Committed Tranche Credit Exposure Percentages which aggregate more than 50%; provided, that the Dollar Working Capital Facility Committed Tranche Credit Exposure of any Defaulting Lender shall be excluded from the calculation of Dollar Working Capital Facility Committed Tranche Credit Exposure Percentages in determining the Majority Facility Lenders, (c) with respect to the Dollar Working Capital Facility Uncommitted Tranche, Lenders having Adjusted Dollar Working Capital Facility Uncommitted Tranche Credit Exposure Percentages which aggregate more than 50%; provided, that the Dollar Working Capital Facility Uncommitted Tranche Credit Exposure of any Defaulting Lender shall be excluded from the calculation of Dollar Working Capital Facility Uncommitted Tranche Credit Exposure Percentages in determining the Majority Facility Lenders and (d) with respect to the Multicurrency Working Capital Facility, Lenders having Multicurrency Working Capital Facility Credit Exposure Percentages which aggregate more than 50%; provided, that the Multicurrency Working Capital Facility Credit Exposure of any Defaulting Lender shall be excluded from the calculation of Multicurrency Working Capital Facility Credit Exposure Percentages in determining the Majority Facility Lenders. “Marked-to-Market Report”: a comprehensive marked-to-market report, in form and substance reasonably similar to Exhibit R, of the Pr...
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Related to Long Tenor Letter of Credit

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(a).

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit D, together with the standard form of application for letter of credit used by the applicable Issuing Bank, signed by a Senior Officer of the applicable Borrower and properly completed to provide all information required to be provided therein.

  • Acceptable Letter of Credit means a clean, unconditional, irrevocable letter of credit issued by a Wisconsin bank or any other financial institution acceptable to the commissioner which renews on an annual basis for a 3–year term unless written notice of non- renewal is given to the commissioner and the limited service health organization at least 60 days prior to the renewal date.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • 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.

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by any Group Member in the ordinary course of its business.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).