US Letter of Credit Advance definition

US Letter of Credit Advance means an advance made by any US Issuing Bank or US Revolving Credit Lender pursuant to Section 2.03(c).

Examples of US Letter of Credit Advance in a sentence

  • The US Borrowers shall repay to the Primary US Agent for the account of the applicable Issuing Banks and each US Lender that has made a US Letter of Credit Advance the outstanding principal amount of each US Letter of Credit Advance made by each of them to the US Borrowers on the earlier of (i) the date of demand therefor and (ii) the Termination Date.

  • They welcomed also the resolution adopted by the Council of Ministers of the Organisation of African Unity in 1991 (CM/Res.1356 {LIV}) on the Bamako Convention on the Ban on the Import of Hazardous Wastes into Africa and on the Control of Their Trans-boundary Movement within Africa.

  • The Family does not own or have any interest in the contract unit.

  • The payment by the Issuing Bank of a draft drawn under any Letter of Credit shall constitute for all purposes of this Agreement the making by the Issuing Bank of a U.S. Letter of Credit Advance, which shall initially be a Base Rate Advance (and which may be Converted pursuant to and in accordance with Section 2.06), in the amount of such draft.

  • Each U.S. Revolving Credit Lender agrees to purchase its Pro Rata Share of an outstanding U.S. Letter of Credit Advance on (i) the Business Day on which notification is given by the Issuing Bank of a draft on a Letter of Credit; provided notice of such draft is given not later than 12:00 P.M. (New York City time) on such Business Day or (ii) the first Business Day next succeeding such notice if notice of such draft is given after such time.

  • If such Lender shall pay to the Administrative Agent such amount for the account of the Issuing Bank on any Business Day, such amount so paid in respect of principal shall constitute a U.S. Letter of Credit Advance made by such Lender on such Business Day for purposes of this Agreement, and the outstanding principal amount of the U.S. Letter of Credit Advance made by the Issuing Bank shall be reduced by such amount on such Business Day.

  • Upon the request of the US Administrative Agent or any US Issuing Bank (A) if such US Issuing Bank has honored any full or partial drawing request under any US Letter of Credit and such drawing has resulted in a US Letter of Credit Advance, or (B) if, as of the US Letter of Credit Expiration Date, any US L/C Obligation for any reason remains outstanding, the US Borrowers shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all US L/C Obligations.

  • The co-occurrence of adolescent boys' and girls' use of psychologically, physically, and sexually abusive behaviours in their dating relationships.

Related to US Letter of Credit Advance

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

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

  • 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.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

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

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

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

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

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

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • 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.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • 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.

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Revolving Loan Note means a promissory note in the form of Exhibit 2.5-1, as it may be amended, supplemented or otherwise modified from time to time.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

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

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

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