Reimbursing Bank definition

Reimbursing Bank as defined in subsection 2.13(a).
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Reimbursing Bank means the bank with which the Issuing Bank maintains an account and which is authorised by the Issuing Bank to charge that account to pay claims received from the Negotiating bank for documents that have been Presented.
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Reimbursing Bank means the bank designated by the Issuing Bank from which an authorised bank that has made payment under the Credit may obtain reimbursement.
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Examples of Reimbursing Bank in a sentence

  • For the purpose of LCs these may include an Issuing Bank, an Advising Bank, Nominated Bank, Confirming Bank or Reimbursing Bank.

  • Within each product, choices were randomised so, for each product, all the first choices2122 in a pair occurred before the second choices, reducing the likelihood that participants232425 saw both choices in a pair in succession and could remember their answers.262827 With these changes, being presented with more choices will increase memory load and2930 likely reduce memory of previous answers.

  • Reimbursing Bank – a banking institution which, on the basis of request of the Nominated Bank and the permission of the bank-emitter (if such is necessary), reimburses to the Nominated Bank the Letter of Credit Amount.

  • Reimbursing Bank will make payment to the Negotiating Bank by debit to L\C Opening Bank’s Head Office A\C.

  • Reimbursing Bank – a banking institution which, on the basis of request of the Nominated Bank and the permission of the bank-emitter (if such is necessary), reimburses the Stand-by Letter of Credit Amount to the Nominated Bank.

  • Reimbursing Bank The bank nominated by the issuing bank to pay claims underthe credit to the negotiating or paying.

  • We will only pay out proceeds under the Export Credit which have actually been received by us from the Issuing Bank, Confirming Bank or Reimbursing Bank (as applicable), less any Costs and charges due to us.

  • If casual works more than 1600 ordinary hours in a 12-month period, he/she must be offered weekly employment in writing with the employee have having the option to accept or reject also in writing.

  • Reimbursing Bank is bank who is authorized by issuing bank to reimburse the paying or negotiating bank.Credit Exposure Limits:The Reserve Bank of India has issued specific directions prescribing exposure limits for banks and long-term lending institutions in respect of their lending to individual borrowers and to all companies in a single group.1. Exposure ceiling for a single borrower is 15% of capital funds effective from March 2002.

  • And the process of making reimbursement using the service of the Reimbursing Bank is known as Bank-to-Bank Reimbursement Arrangement.


More Definitions of Reimbursing Bank

Reimbursing Bank means the bank instructed or authorized to provide reimbursement pursuant to a reimbursement authorization issued by the issuing bank.
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Reimbursing Bank as defined in subsection 2.11(a). ----------------
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Related to Reimbursing Bank

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but on behalf of the Lenders hereunder.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Existing Lender were references to all the Lenders immediately prior to the relevant increase;

  • Funding Bank shall have the meaning given to such term in Section 3.3 hereof.

  • Issuing Lender means, with respect to any Letter of Credit, the Lender which agrees or is otherwise obligated to issue such Letter of Credit, determined as provided in subsection 3.1B(ii).

  • Issuing Bank Fees shall have the meaning assigned to such term in Section 2.12(b).

  • Continuing Lender as defined in Section 2.17(a).

  • Tax Lender has the meaning specified therefor in Section 14.2(a) of the Agreement.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Participating Lender has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • LC Disbursement means a payment made by the Issuing Bank pursuant to a Letter of Credit.

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Letter of Credit Issuer means such successor or such new issuer of Letters of Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(c) and 4.1(d). The acceptance of any appointment as a Letter of Credit Issuer hereunder whether as a successor issuer or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor issuer of Letters of Credit, in a form satisfactory to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such new or successor issuer of Letters of Credit shall become a “Letter of Credit Issuer” hereunder. After the resignation or replacement of a Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement as Letter of Credit Issuer, the provisions of this Agreement relating to a Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (A) while it was a Letter of Credit Issuer under this Agreement or (B) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

  • Designating Lender means, with respect to each Designated Lender, the Lender that designated such Designated Lender pursuant to Section 9.07(a).

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Terminated Lender as defined in Section 2.23.

  • Purchasing Lender shall have the meaning set forth in Section 16.3(c) hereof.

  • Initial Issuing Bank has the meaning specified in the recital of parties to this Agreement.

  • Existing bank means a savings bank, national banking association, or state chartered bank engaged in the business of banking prior to the consolidation under this section.

  • Participating Bank means any participating banks of the JETCO ATM network, (if applicable) PLUS ATM network and/or (if applicable) China UnionPay ATM network;

  • Settling Bank means the entity appointed by the Trust or you, as applicable, to perform such settlement services on behalf of the Trust and you, as applicable, which entity agrees to abide by NSCC's then current rules and procedures insofar as they relate to same day funds settlement. In all cases, processing and settlement of share transactions shall be done in a manner consistent with applicable law.

  • Existing Lenders has the meaning specified in the recitals hereto.