Usance LC definition

Usance LC shall have the meaning ascribed to it in Clause 12.1.2(c)
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Usance LC means the LC which provides for payment on maturity as per the terms of the LC.
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Usance LC means the LC which provides for payment on maturity as per the terms of the L.C. All capitalised terms used but not defined in the Facility Agreement shall have the respective meanings assigned to them under the General Conditions.
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Examples of Usance LC in a sentence

  • When Party A applies for issuance of Usance L/C, for Sight L/C where Party B could not control the rights of goods, for Shipping Guarantee and for Trust Receipt Loan，Party A should submit Trust Receipt according to Party B's request.

  • The quantity of Coal not supplied by the Seller owing to Purchaser’s failure to pay and/or submit/maintain IRLC or Usance LC, as applicable, in accordance with Para 10.1.2(ii) of this Annexure C.

  • The quantity of Coal not supplied by the Seller owing to the Purchaser’s failure to pay and/or submit IRLC or Usance LC, as applicable, in accordance with Para 10.1.2(ii) of this Annexure C.

  • USD30) Bankers Acceptance (under Usance LC): 0.05% per month (min.

  • This credit line is revolving, and includes the issuance of Sight L/C and Usance L/C.