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.