Examples of Renewal Letter of Credit in a sentence
Once an Auto Renewal Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the applicable Issuing Bank to permit the renewal of such Letter of Credit at any time to an expiry date not later than such Revolving Facility Maturity Date (except as otherwise provided in the second proviso to this clause (c)).
Once an Auto Renewal Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) such Issuing Bank to permit the renewal of such Letter of Credit at any time to an expiry date not later than such Maturity Date.
The Letter of Credit, and each Renewal Letter of Credit shall provide that the issuing bank shall, not later than thirty (30) days prior to the expiration of the Letter of Credit or such Renewal Letter of Credit, provide a written notice to the DISTRICT stating whether or not the issuing bank shall renew the Letter of Credit/Renewal Letter of Credit, and in the event no written notice is provided to the DISTRICT, then the issuing bank shall be deemed to issue the Renewal Letter of Credit.
Once an Auto Renewal Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the Issuing Bank to permit the renewal of such Letter of Credit at any time to an expiry date not later than such Maturity Date.
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Once an Auto Renewal Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the Issuing Bank to permit the renewal of such Letter of Credit at any time to an expiry date not later than such Revolving Facility Maturity Date (except as otherwise provided in the second proviso to this paragraph (c)).
Payment of the Renewal First Working Capital Line Note and the Renewal Letter of Credit Line Note shall be and is hereby secured by all Collateral described in Article III of the Agreement.
Subject to the terms and conditions of the Agreement, as amended by this Amendment, the Letter of Credit Line is hereby renewed in the maximum principal amount of $4,000,000.00 (the "Renewal Letter of Credit Line").
Id. at ¶¶ 27–29.FTOn September 9, 2011, Plaintiff met with Defendant Oliveira, the Dentist at CCF.
No L/C Issuer shall be under any obligation to permit the renewal of an Auto- Renewal Letter of Credit if such L/C Issuer would have no obligation at such time to issue such Letter of Credit under the terms of this Section 2.4.