Multicurrency Letter of Credit definition

Multicurrency Letter of Credit means any Letter of Credit issued pursuant to the Multicurrency Facility.

Multicurrency Letter of Credit means any letter of credit issued (or deemed issued) pursuant to Section 2.23 and designated (or deemed designated) as such.

Multicurrency Letter of Credit any Letter of Credit denominated in one or more Foreign Currencies.

Examples of Multicurrency Letter of Credit in a sentence

• The applicable Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Dollar Letter of Credit or a Multicurrency Letter of Credit.

• Any Dollar Letter of Credit shall be denominated in Dollars, and any Multicurrency Letter of Credit shall be denominated in Dollars or an Alternative Currency.

• Each such notice (each, a “Letter of Credit Notice”) shall be irrevocable, shall be given in the form of Exhibit B-4 and shall specify (i) the requested date of issuance, which shall be a Business Day, (ii) whether the Letter of Credit shall be a Dollar Letter of Credit or a Multicurrency Letter of Credit, (iii) the requested Stated Amount and expiry date of the Letter of Credit, and (iv) the name and address of the requested beneficiary or beneficiaries of the Letter of Credit.

• In the case of a Multicurrency Letter of Credit denominated in an Alternative Currency, the US Borrower or the European Borrower, as applicable, shall reimburse the L/C Issuer in such Alternative Currency, unless the L/C Issuer (at its option) shall have specified in such notice that it will require reimbursement in Dollars.

• By the issuance of a Multicurrency Letter of Credit and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Multicurrency Revolving Credit Lender, and each such Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Pro Rata Percentage of the aggregate amount available to be drawn under such Letter of Credit, effective upon the issuance of such Letter of Credit.

More Definitions of Multicurrency Letter of Credit

Multicurrency Letter of Credit has the meaning specified in Section 2.03(a).

Multicurrency Letter of Credit if issued or deemed issued under the Multicurrency Revolving Credit Commitments.

Multicurrency Letter of Credit has the meaning given to such term in Section 2.19(a).

Multicurrency Letter of Credit means any Letter of Credit denominated in an Alternative Currency.

Multicurrency Letter of Credit means any Standby Letter of Credit or Commercial Letter of Credit denominated in U.S. Dollars or an Alternative Currency issued pursuant to this Agreement under the Multicurrency Revolving Facility.

Multicurrency Letter of Credit. Letters of Credit that utilize the Multicurrency Revolving Commitments.

Multicurrency Letter of Credit means any letter of credit or bank guarantee issued under Multicurrency Revolving Facility hereunder providing for the payment of cash upon the honoring of a presentation thereunder. A Multicurrency Letter of Credit may be standby letter of credit or bank guaranty or, if made available by any Multicurrency L/C Issuer (in its sole and absolute discretion), a trade or commercial letter of credit issued by such Multicurrency L/C Issuer.