Definition of Term Drawing

Term Drawing means any drawing under a Bond L/C to pay the purchase price of Bonds tendered pursuant to the terms of the applicable Indenture.
Sample 1

Examples of Term Drawing in a sentence

To the extent that the Administrative Agent receives interest payable on account of any Pledged Bonds such interest received shall be applied and credited first against accrued and unpaid interest on the Tender Advance Revolving Loan that financed the Term Drawing in respect of which such Pledged Bonds were purchased.