Examples of Standby Letter of Credit in a sentence

The LC Bank has, in the Standby Letter of Credit, irrevocably submitted to the exclusive jurisdiction of such courts and waived any objection to Proceedings in any such courts whether on the ground of venue or on the ground that the Proceedings have been brought in an inconvenient forum.
Terms defined in the Standby Letter of Credit referred to above have the same meaning when used in this Beneficiary Statement.
The applicant of a Commercial Standby Letter of Credit (Indian importer) shall undertake to provide evidence of imports in respect of all payments made under standby.
Such drawing on the Standby Letter of Credit will be payable in Renminbi in immediately available and cleared funds to or to the order of the Trustee at the time and to the account specified in the Demand presented to the LC Bank.
The Trust Deed contains provisions for convening meetings of Bondholders to consider matters affecting their interests, including without limitation the sanctioning by Extraordinary Resolution of a modification of any of these Conditions or any provisions of the Trust Deed, the Agency Agreement and/or the Standby Letter of Credit.

More Definitions of Standby Letter of Credit

Standby Letter of Credit means any Letter of Credit that is not a Commercial Letter of Credit and that (a) is used in lieu or in support of performance guaranties or performance, surety or similar bonds (excluding appeal bonds) arising in the ordinary course of business, (b) is used in lieu or in support of stay or appeal bonds, (c) supports the payment of insurance premiums for reasonably necessary casualty insurance carried by any of the Loan Parties, or (d) supports payment or performance for identified purchases or exchanges of products or services in the ordinary course of business.

Standby Letter of Credit means any standby letter of credit issued for the purpose of supporting workers compensation, liability insurance, releases of contract retention obligations, contract performance guarantee requirements and other bonding obligations or for other lawful purposes.

Standby Letter of Credit as defined in subsection 3.1(a).

Standby Letter of Credit means any Letter of Credit that is not a Commercial Letter of Credit.

Standby Letter of Credit or “SLC” as used herein, means a written commitment by a Belgian financial institution either on its own behalf or as a confirmation of the Standby Letter of Credit issued by a non-Belgian bank to pay all or part of a stated amount of money, until the expiration date of the letter, upon presentation by the Purchaser of a written demand therefore. Neither the financial institution nor the Contractor can revoke or condition the Standby Letter of Credit. The term “Belgian financial institution” includes non-Belgian financial institutions licensed to operate in Belgium.

Standby Letter of Credit means a Letter of Credit issued to support obligations of any Borrower Party incurred in the ordinary course of its business, and which is not a Commercial Letter of Credit.