Usance Draft definition

Usance Draft has the meaning given to it in Section 1.1(b) In this Agreement words denoting the singular shall include the plural, and vice versa, and words denoting any gender shall include all genders.
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Usance Draft has the meaning given to it in Section 1.1(b) In this Agreement words denoting the singular shall include the plural, and vice versa, and words denoting any gender shall include all genders. All accounting terms used in the Loan Documents shall be construed, and all financial records and reports prepared or provided pursuant to the Loan Documents shall be prepared in a consistent manner, in accordance with GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either Borrower or Bank shall so request, Borrower and Bank shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP; provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) Borrower shall provide to the Bank financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.
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Usance Draft means any draft, other than a draft ------------ payable at sight, drawn under a Commercial Letter of Credit and accepted by the Issuer.
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Examples of Usance Draft in a sentence

  • In such event, Borrower agrees that Bank, at Bank’s sole discretion, may debit Borrower’s deposit account with Bank for the amount of any such Usance Draft.

  • The outstanding principal balance of each loan advance subject hereto and the amount of each drawing paid under any Letter of Credit or Usance Draft shall bear interest from the date of such advance or the date such drawing is paid, respectively, to the date such amount is fully repaid by Borrower at the rate of interest set forth in the Line of Credit Note.

  • In such event, Borrower agrees that Bank, in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such Usance Draft.

  • Issuer shall be paid one quarter of one percent (.25%) of the Usance Draft fee.

  • The remaining one and one quarter percent (1.25%) of the Usance Draft fee shall be shared by Lenders based upon their Revolving Percentage.