Security Letter of Credit definition

Security Letter of Credit means a Letter of Credit issued by Citicorp USA, Inc. naming Citibank as beneficiary to support the payment by the Applicant of the Obligations.

Security Letter of Credit shall have the meaning ascribed thereto in Section 29.3.

Security Letter of Credit means a letter of credit issued by Citicorp USA, Inc. naming Citibank as beneficiary to support the payment by the Applicant of the Obligations and otherwise in form and substance reasonably satisfactory to Citibank.

Examples of Security Letter of Credit in a sentence

• At all times during the Committed Waste Period, the County Facilities Operations Period and through the first 15 years of Post-Closure, Contractor shall keep and maintain a Security Letter of Credit naming County as beneficiary in the initial amount of $3,000,000 and in the form set forth in Exhibit W.

• The County may draw upon the Security Letter of Credit in the event Contractor defaults in its performance of its obligations under this Agreement, and fails to cure such default within the time period provided for in this Agreement, and then only to the extent of the County’s provable, actual damages proximately caused by Contractor’s default.

• The amount of the Security Letter of Credit shall be increased by the same percentage increase in the annual estimates for Financial Assurances.

• The County’s draw on the Security Letter of Credit shall be subject to the Dispute Resolution Provisions of this Agreement.

• In the event that any portion of the Security Letters of Credit pursuant to the terms of Section 20(i) above are posted in cash on or after the Delivery Date, such cash Security Deposit shall be non-refundable during the term of the Lease, unless and until such time as Lessee provides Lessor a Security Letter of Credit in the amount of such cash Security Deposit.

More Definitions of Security Letter of Credit

Security Letter of Credit means an unconditional and irrevocable letter of credit, satisfactory to Lessor in form and substance, in the amount of the Security Deposit and otherwise in compliance with the requirements of Section 4.6 and (i) drawn upon an issuer located in Ireland (either a bank organised in Ireland or the Ireland branch of a bank organised outside Ireland) and with a branch office in Dublin, Ireland or (ii) issued by a bank outside of Ireland and confirmed by Allied Irish Banks, AIB Xxxxxxxxxxxxx Xxxxxx, XXXX, Xxxxxx 0, Xxxxxxx (SWIFT: XXXXXX0X) or such other bank located in Ireland (either a bank organised in Ireland or the Ireland branch of a bank organised outside Ireland) and with a branch office in Dublin, Ireland, each issuing and confirming bank being acceptable to Lessor and having a credit rating not lower than A from Standard and Poor’s or A2 from Xxxxx’x, and which shall include any replacements, supplements and amendments thereto.

Security Letter of Credit means a Letter of Credit issued by Citicorp USA, Inc. naming Citibank as beneficiary to support the payment by Applicant of the Obligations.

Security Letter of Credit means the letter of credit issued by Xxxxxxx Xxxxx Mortgage Company pursuant to the Credit Agreement naming Goldman as beneficiary to support the payment by the Applicant of the Obligations.

Security Letter of Credit means an unconditional and irrevocable letter of credit, satisfactory to Lessor in form and substance, in the amount of the Security Deposit and otherwise in compliance with the requirements of Section 4.6 and (i) drawn upon an issuer located in Ireland (either a bank organised in Ireland or the Ireland branch of a bank organised outside Ireland) and with a branch office in Dublin, Ireland or (ii) issued by a bank outside of Ireland and confirmed by Allied Irish Banks, AIB Xxxxxxxxxxxxx Xxxxxx, XXXX, Xxxxxx 0, Xxxxxxx (SWIFT: XXXXXX0X) or such other bank located in Ireland (either a bank organised in Ireland or the Ireland branch of a bank organised outside Ireland) and with a branch office in Dublin, Ireland, each issuing and confirming bank being acceptable to Lessor and having a credit rating not lower than A from Standard and Poor’s or A2 from Xxxxx’x.

Security Letter of Credit means that certain letter of credit in the amount of $3 million as required by Section 14.1. Self-Haul Waste “Self-Haul Waste” means all Waste, Special Waste and Beneficial Reuse Materials that are delivered to the County Facilities other than Committed County Waste and Committed City Waste.

Security Letter of Credit. Means an irrevocable letter of credit or guarantee in the amount at all times the greater of US$ 230,000 and an amount equal to the aggregate of two (2) months Basic Rent payments ($230,559.60), issued by an institution and in form and substance acceptable to Lessor and Beneficiary. EXHIBIT C-2 to AIRCRAFT LEASE AGREEMENT DEFINITIONS AND VALUES Beneficiary: Means each of ITOCHU AirLease (Europe) Limited and Marubeni Airleasing (U.K.) Limited as beneficiary under the Trust Agreement, together in each case with its successors and permitted assigns under the Trust Agreement.

Security Letter of Credit shall have the meaning given such term in Section 3.5(f) hereof.