Standby Letter of Credit Agreement definition

Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

Standby Letter of Credit Agreement means an agreement governing the issuance of standby letters of credit by Lender entered into between the Borrower as applicant and Lender as issuer.

Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the applicable LC Issuer.

Examples of Standby Letter of Credit Agreement in a sentence

• In addition, if the amount of Stand-by Letter of Credit amount of the Stand-by Letter of Credit Agreement does not exceed 2,000,000 (two million) GEL or equivalent in other currencies (at the fixed rate by the National Bank of Georgia on the day of writing to the Bank), the Bank Provides to cover The above mentioned obligations on the date of receiving written appeal or if the written appeal was made during non-working hours, no later than the next banking day.

• Stand-by Letter of Credit payment – a) direct payment of the Stand-by Letter of Credit Amount to the Remittee; b) deferred payment of the Stand-by Letter of Credit Amount to the Remittee by the Bank in accordance with the rule and conditions set forth in the e Stand-by Letter of Credit Agreement.

• Amount of the Commission Fee shall be calculated in the form and periodicity stipulated in the General Credit Line Agreement and/or the Bank Guarantee, Letter of Credit and/or Stand-by Letter of Credit Agreement.

• Force Majeure – acts of God, fire, hostilities, administrative and legal acts and/or other circumstances insurmountable for the Bank and beyond its control, which: a) are not connected with the Bank’s errors or negligence, b) started or developed after entering into force of the Stand-by Letter of Credit Agreement and c) affect directly full and/or proper fulfillment of obligations assumed under the respective agreement.

• Additional Terms and Conditions - the terms and conditions set forth in Annex N2 to the Stand-by Letter of Credit Agreement (if any), including additions and changes thereto.

More Definitions of Standby Letter of Credit Agreement

Standby Letter of Credit Agreement means the standby letter of credit agreement dated 28 May, 2001 between Viking Asset Purchaser No. 2 Limited and Nordea Bank Danmark A/S (formerly Unibank A/S) as amended and restated by an agreement dated 18 July 2003 between Viking Asset Purchaser No. 2 Limited, Viking Asset Purchaser No. 3 Limited, the Initial L/C Bank and other affiliates of the Initial L/C Bank.

Standby Letter of Credit Agreement means the Continuing Agreement for Standby Letters of Credit, dated as of November 4, 2013, as amended, between XLIT LTD. and Citibank, N.A.

Standby Letter of Credit Agreement means the standby letter of credit agreement to be executed by Borrower either as originally executed or as it may from time to time be supplemented, modified, amended, extended, restated or supplanted.

Standby Letter of Credit Agreement means an agreement governing the issuance of standby letters of credit by Wells Fargo entered into between Company as applicant and Wells Fargo as issuer.

Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement, executed by the Borrower substantially in the form of Exhibit G.

Standby Letter of Credit Agreement means the Standby Letter of Credit Agreementstandby letter of credit agreement relating to the issuance of a Standby Letter of Credit in substantially the form from time to time in use by the L/C Issuer. “Stated Amount” means at any time the maximum amount for which a Letter of Credit may be honored. “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the FRB to which the Agent is subject with respect to the Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. LIBO Rate Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. “Store” means any retail store or showroom (which may include any real property, fixtures, equipment, inventory and other property related thereto) operated, or to be operated, by any Loan Party. “Subordinated Indebtedness” means Indebtedness which is expressly subordinated in right of payment to the prior payment in full of the Obligations (other than contingent indemnification obligations for which a claim has not been asserted) and which is in form and on terms approved in writing by the Agent. “Subordination Provisions” has the meaning specified in Section 8.01(q).

Standby Letter of Credit Agreement means that certain Letter of Credit Agreement dated as of April 27, 2001, between the Parent and the Standby L/C Creditor, together with such amendments, restatements, supplements or modifications thereto or any refinancings, replacements or refundings thereof as may be agreed to by the Lenders and the Administrative Agent.