Requested Letter of Credit definition

Requested Letter of Credit as defined in subsection 2.5(c).
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Examples of Requested Letter of Credit in a sentence

  • The Requested Letter of Credit will be subject to [UCP 500] [ISP98].

  • Each of the Applicable Lending Office, [INSERT ISSUING LENDER], the Company and the Applicable Account Party hereby acknowledge that, upon the issuance thereof pursuant to the terms of the Credit Agreement, the Requested Letter of Credit and any Future Letter of Credit shall constitute and shall be deemed to be a Letter of Credit for all purposes under the Credit Agreement and shall be subject to the terms thereof, as such terms may be amended solely pursuant to Section 2 below.

  • The Company hereby confirms that the Credit Agreement (other than as specifically amended hereby solely with respect to the Requested Letter of Credit and any Future Letter of Credit) remains in full force and effect and will continue to constitute legal, valid and binding obligations of the Company in accordance with its terms.

  • The Borrower and Reinsurance hereby agree to be jointly and severally liable for the Reimbursement Obligations of either in respect of the Requested Letter of Credit.](3) The undersigned [agrees/agree] to complete all application procedures and documents required by you in connection with the Requested Letter of Credit.

  • Each of the Applicable Lending Office, [INSERT ISSUING LENDER], the Company and the Applicable Account Party hereby acknowledge that, upon the issuance thereof pursuant to the terms of the Credit Agreement, the Requested Letter of Credit shall constitute and shall be deemed to be a Letter of Credit for all purposes under the Credit Agreement and shall be subject to the terms thereof, as such terms may be amended solely pursuant to Section 2 below.

  • The Company hereby confirms that the Credit Agreement (other than as specifically amended hereby solely with respect to the Requested Letter of Credit) remains in full force and effect and will continue to constitute legal, valid and binding obligations of the Company in accordance with its terms.

  • The opening of the Requested Letter of Credit and the Borrower's responsibilities with respect thereto are Terms used herein and not otherwise defined herein have the meanings assigned to them in the Credit Agreement.

  • The Requested Letter of Credit will be subject to [UCP 600] [ISP98].

  • Borrower hereby requests that Lender incur a Letter of Credit Obligation (the "Requested Letter of Credit Obligation") pursuant to and this request has been prepared in accordance with Schedule 2.1(g) to Credit Agreement.

  • The Requested Letter of Credit will be subject to [UCP 500600] [ISP98].

Related to Requested Letter of Credit

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

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

  • 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.

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

  • 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 H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

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

  • 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.

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

  • 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.

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

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

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

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • 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.

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

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

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

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

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

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

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.