Project Letter of Credit definition

Project Letter of Credit has the meaning given to such term in Section 2.03(a).
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Project Letter of Credit means a letter of credit issued to the Trust by a financial institution (such letter of credit and financial institution to comply with the applicable requirements in the Applicable Project Agreement or Project Collateral Account Agreement and to be reasonably satisfactory to Administrative Agent and the Applicable Contractor) with a face amount equal to 89.9% of the Applicable Termination Payment Amounts arising under the Applicable Project Agreement and for which Lessee shall be solely liable for all reimbursement obligations in the event such Project Letter of Credit is drawn upon.
Sample 1
Project Letter of Credit means each irrevocable standby letter of credit to be issued pursuant to Section 2.16, for the account of the Borrower by the Project LC Issuing Bank for the benefit of a Material Project Participant, acceptable to the Lenders, in respect of a Borrower Party’s obligations under the Material Project Document that such Material Project Participant is a party to, in form and substance acceptable to the Administrative Agent and the Lenders and in a maximum stated amount not to exceed the (i) Project LC Commitment of such Project LC Issuing Bank and (ii) the Project LC Commitment allocated to such Project (as set forth on Annex 2).
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Examples of Project Letter of Credit in a sentence

  • No Project Letter of Credit shall be issued, renewed, replaced or extended by the LC Bank until such time (or a reasonable period before such time) as required under the applicable LC Eligible Project Document pursuant to which such Letter of Credit is being issued, as certified to the LC Bank in a duly completed Notice of LC Activity.

  • Mean length and weight for chinook smolts caught at the RST in the spring of 2011 was 107 mm and13.52 g.

  • The DPA will open Letter of Credit and/or Project Letter of Credit (PLC) accounts10 based on the request of MOLHR and MOE, having distinct project components and budgetary heads, after considering their organisational, structural, location and regional requirements for the execution of their budgets.

  • The Expiration Date of each Letter of Credit shall be no later than the earliest of (a) 15 Banking Days following the expiration of the applicable Approved Project Company's letter of credit obligations under the applicable LC Eligible Project Document in connection with which any Project Letter of Credit is issued (as notified by Borrower to the LC Bank), (b) cancellation of such Letter of Credit pursuant to Section 2.2.7(b) or (c) or (c) the Final Maturity Date.

  • All local currency payment will be through the Advance Account in RMA CA - Credit Advice; CGC, DYS - Career Guidance and Counselling; DMEA - Department of Macro Economic Affairs; DPA-Department of Public Accounts; DSE - Department of School Education; DTE - Department of Technical Education; PLC – Project Letter of Credit (sub accounts); REC-Royal Education Council; RFP- Request for Payment; RMA-Royal Monetary Authority; SOE- Statement of Expenditure; SPBD- School Planning and Building Division V.

  • Each user shall implement its ASPP as submitted or as modified after such plan has been reviewed and approved by the city.

  • The current agreements will end on 31 March 2022 and a new five-year arrangement will commence from 1 April 2022.

  • For instance, Casari and Luini (2009) compared punishment decisions when subjects simultaneously decide the strength of punishment as in Fehr and Gächter (2000), with when subjects are randomly given a turn to punish while seeing how much punishment the target has received before their turn.

  • Based on the requests, the DPA in the MOF will release funds to the Project Letter of Credit (PLC)/Letter of Credits (LCs) of the participating agencies.

  • Project Letter of Credit Account (PLC)The Agent Bank shall pass on the total of withdrawals made by the Budget Agencies from these accounts to the Government Consolidated Account on a daily basis.


More Definitions of Project Letter of Credit

Project Letter of Credit means any irrevocable standby letter of credit, substantially in the form of Exhibit N-1 or such other form reasonably acceptable to the applicable L/C Issuer and the Borrower, issued pursuant to Section 2.03(a)(ii)(A). “Projected Debt Service” means, for any period, the sum of the following projected amounts: (a) scheduled cash interest, commitment fees, letter of credit fees, and scheduled principal payable during such period in respect of the applicable Incremental Facility less any net payments receivable by the Borrower during such period pursuant to Interest Rate Hedge Agreements in connection with the applicable Incremental Facility and (b) any net payments payable by the Borrower during such period pursuant to Interest Rate Hedge Agreements in connection with the applicable Incremental Facility. For the avoidance of doubt, Projected Debt Service shall not include (i) mandatory prepayments pursuant to the Loan Documents applicable to such Incremental Facility and (ii) any amounts required to be transferred to the Debt Service Reserve Account. 200 KE 73718588.20 US-DOCS\142539518.2141222994.8 “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. “QFC Affiliate” has the meaning given in Section 2(k) of the Bank Holding Company Act (12 U.S.C. 1841(k)) and Section 225.2(a) of the FRB’s Regulation Y (12 CFR 225.2(a)). “QFC Credit Support” has the meaning given in Section 2.05(a). “Qualified Capacity Lease Agreement” means any capacity lease agreement having an initial term of at least one (1) year and having substantially similar terms to the terms of the Capacity Lease Agreements in effect on the Closing Date, or as otherwise would be more beneficial to the Double E Joint Venture. “Qualified Transportation Agreement” means any transportation agreement having an initial term of at least two (2) years and having substantially similar terms to the terms of the Transportation Agreements in effect on the Closing Date, or as otherwise would be more beneficial to the Double E Joint Venture. “Quarterly Payment Date” means (a) the Initial Quarterly Payment Date and (b) the last Business Day of each March, June, September and December, commencing with the first full quarter after the Initial Quarterly Payment Date. “Real Property” means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in and to any and all parcels of or int...
Sample 1
Project Letter of Credit means an unconditional irrevocable standby letter of credit in the amount of One Hundred Thousand Dollars ($100,000) issued for the benefit of the Bank by a financial institution reasonably acceptable to the Bank, which letter of credit shall have an expiry of no earlier than seven (7) days after the Project Loan Maturity Date for the Project Loan for which such Project Letter of Credit was issued. Such letter of credit shall serve a security for the Borrower's obligation under such Project Loan.
Sample 1
Project Letter of Credit means any irrevocable standby letter of credit, substantially in the form of Exhibit N-1 or such other form reasonably acceptable to the applicable L/C Issuer and the Borrower, issued pursuant to Section 2.03(a)(ii)(A).
Sample 1
Project Letter of Credit means a letter of credit in the initial amount of [Confidential Treatment Requested] securing the payment of the Term Loan A issued for the account of Xxxx Xxxxxxx Brands Inc. in favor of Lender by a bank and in form and substance satisfactory to Lender, in its sole discretion, or any replacement letter of credit issued in favor of Lender by a bank and in form and substance satisfactory to Lender, in its sole discretion.
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Project Letter of Credit means any Letter of Credit issued in support of Project Related Debt.
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Project Letter of Credit means, with respect to any Project, an irrevocable letter of credit issued by the Project Letter of Credit Issuer for the benefit of a Trustee under a Project Bond pursuant to a Project Loan Agreement together any substitutes therefor or replacements thereof, as the same may be amended, modified or supplemented from time to time to the extent permitted hereby, in a face amount which is equal to the face amount of the Project Bond (plus certain accrued interest thereon), less the dollar amount of any related Project Owner Equity Funds.
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Related to Project Letter of Credit

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • 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.

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

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

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

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

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

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • 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.

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

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

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • 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.

  • 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.

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

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

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

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

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

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.