Lender shall determine in its sole and absolute discretion whether or not it is able to enter into the Standby Loan Transaction and the Lessor shall notify the Lessee as soon as possible after the Standby Lender has conducted its review and reached its conclusions (and in any event such notification to be given by the Review Notification Date).
Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).
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 Fee shall have the meaning assigned to such term in Section 3.5(b)(i).
Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.
Standby L/C an irrevocable letter of credit under which the Issuing Lender agrees to make payments in Dollars for the account of Borrower, on behalf of Borrower or any Qualified Subsidiary in respect of obligations of Borrower or such Subsidiary incurred pursuant to contracts made or performances undertaken or to be undertaken or like matters relating to contracts to which Borrower or such Qualified Subsidiary is or proposes to become a party in Borrower’s or such Qualified Subsidiary’s business, including, without limiting the foregoing, for insurance purposes or in respect of advance payments or as bid or performance bonds or for any other purpose for which a standby letter of credit might customarily be issued.
Master Standby Agreement means the Master Agreement for Standby Letters of Credit dated as of the Closing Date among Borrowers, as Applicant(s), and GE Capital, as issuer.
Evergreen Letter of Credit has the meaning set forth in Section 2.01.
Facility LC Application is defined in Section 2.19.3.
VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.
Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.
Facility Letter of Credit means a Letter of Credit issued hereunder.
Facility Letter means the facility letter and the other letters of offer or other letters which may from time to time be issued by the Bank to the Borrower in relation to the Facilities.
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.
Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).
Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.
Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.
Refinance Loan Any Mortgage Loan the proceeds of which are used to refinance an Original Mortgage Loan.
Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).
Discount Loan The Loans having Pass-Through Rates of less than 6.75%.
MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.
Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.
Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.
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.
Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.
Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.
Dollar Letter of Credit means a Letter of Credit denominated in Dollars.