SunTrust Letter of Credit definition

SunTrust Letter of Credit means the letter of credit issued by SunTrust Bank on October 19, 1995, Letter of Credit No. F501115, in favor of Director, Division of SELF, in the face amount of $300,000.
Sample 1Sample 2Sample 3
SunTrust Letter of Credit means that certain SunTrust Irrevocable Letter of Credit No. F851910, dated as of March 13, 2008, in the stated amount of $500,000, as in effect on the date hereof and not as extended or renewed.
Sample 1Sample 2Sample 3
SunTrust Letter of Credit means the letter of credit currently outstanding under the SunTrust Credit Agreement.
Sample 1

Examples of SunTrust Letter of Credit in a sentence

  • Question #5 [6 points total]: StakeholdersList what you consider to be the 3 most important stakeholders, given the constraints and resources from the design brief.

  • In March 2007, to avoid a default for being out of compliance with the debt-to- capitalization covenant related to its SunTrust Letter of Credit for the Series 2002 bonds, the Hospital moved its Letter of Credit to Wachovia Bank, which did not require a debt-to- capitalization covenant.

  • RA2.8 Installer Requirements and HERS Procedures for AlterationsThis section on alterations describes the differences that apply to alterations.

  • The Owner, in a letter dated September 24, 2009, attached as Exhibit A, has requested that Florida Housing allow certain of the Bond Documents to be amended to allow for a confirming Letter of Credit from the Federal Home Loan Bank of Atlanta to stand behind the existing SunTrust Letter of Credit.

  • Upon the occurrence of any Event of Default, the Pro Rata Share of each Lender shall be amended to the amount designated opposite such Lender's name below in the following chart in order to recognize the outstanding indebtedness evidenced by (a) the SunTrust Ten Million Dollar Revolving Credit Facility, (b) the SunTrust Letter of Credit Facility, and (c) the National City Bank, Kentucky (formerly known as First National Bank of Louisville) Letter of Credit Facility: SunTrust Bank, Nashville, N.


More Definitions of SunTrust Letter of Credit

SunTrust Letter of Credit means (i) that certain Letter of ------------------------- Credit No. F501372, dated May 29, 1996, issued by SunTrust Bank (formerly SunTrust Bank, Atlanta) in connection with the issuance by Development Authority of Gwinnett County of $6,460,000 aggregate principal amount of Industrial Revenue Bonds (Xxxxxx 1000, Inc., Project), Series 1996, (ii) that certain Letter of Credit Agreement dated as of May 1, 1996, between Xxxxxx 1000, Inc., and SunTrust Bank (formerly SunTrust Bank, Atlanta), as amended by that certain Amendment No. 1 to Letter of Credit Agreement dated as of February 22, 2000, and (iii) that certain Guaranty Agreement dated as of February 22, 2000, made by Mail-Well, Inc., in favor of SunTrust Bank.
Sample 1
SunTrust Letter of Credit means documentary letter of credit BMTO88714OS, as heretofore renewed or replaced, issued by Bank of Montreal for the account of ITML Plastic, in the principal sum of $600,000.00, in favour of Suntrust Bank, Inc. as security for the obligations of Amerikan.
Sample 1
SunTrust Letter of Credit means the irrevocable, direct-pay letter of credit in the amount of $101,315,069, which is Irrevocable Letter of Credit No. F852946, issued by SunTrust Bank on
Sample 1

Related to SunTrust Letter of Credit

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • 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.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Existing Letter of Credit means each letter of credit previously issued (or deemed issued) for the account of the Borrower, the Company or any of their respective Subsidiaries under the Existing Credit Facilities that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01C.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • 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.

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit F, signed by a Responsible Official of Borrower and properly completed to provide all information required to be included therein.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.