UBS SBLC definition

UBS SBLC has the meaning assigned in Section 3.1(g). All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to:

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Examples of UBS SBLC in a sentence

• If the UBS SBLC shall fail to be in full force and effect for any reason, or of this issuer thereof shall elect not to renew the UBS SBLC.

• To facilitate the provision of such credit, including obtaining the UBS SBLC, contemporaneously with entering into this Agreement Bank has acquired the indebtedness (the “IDB Loan”) of Borrower owing to Israel Discount Bank of New York (“IDB”).

• That certain (i) irrevocable standby letter of credit issued by HSBC Switzerland in favor of IDB in the aggregate amount of $2,500,000.00 ("HSBC SBLC") and (ii) irrevocable standby letter of credit issued by UBS Switzerland in favor of Bank in the aggregate amount of $4,000,000.00 ("UBS SBLC"), as each may be amended, assigned or otherwise renewed or replaced from time to time.