USD Letter of Credit definition

USD Letter of Credit means each standby letter of credit issued or existing under Section 2.01(a)(ii). USD Letters of Credit will be issued in Dollars, Euros or other Alternative Currencies.
Sample 1Sample 2Sample 3
USD Letter of Credit has the meaning specified in Section 2.03(a).
Sample 1Sample 2Sample 3
USD Letter of Credit means any letter of credit or bank guarantee issued under the USD Revolving Facility hereunder providing for the payment of cash upon the honoring of a presentation thereunder. A USD Letter of Credit may be standby letter of credit or bank guaranty or, if made available by any USD L/C Issuer (in its sole and absolute discretion), a trade or commercial letter of credit issued by such USD L/C Issuer.
Sample 1Sample 2Sample 3

Examples of USD Letter of Credit in a sentence

  • Notwithstanding anything to the contrary contained herein, (1) upon the request of the Required Multicurrency Revolving Credit Lenders, while any Event of Default exists, all Multicurrency Letter of Credit Fees shall accrue at the Default Rate and (2) upon the request of the Required USD Revolving Credit Lenders, while any Event of Default exists, all USD Letter of Credit Fees shall accrue at the Default Rate.

  • Not later than 2:00 p.m., Local Time, on the Business Day (each such date, an “USD L/C Honor Date”) following the date upon which such Revolving Facility Borrower receives such notice from the applicable USD L/C Issuer of a payment by such USD L/C Issuer under a USD Letter of Credit, such Revolving Facility Borrower shall reimburse such USD L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing.

  • For example where a USD Letter of Credit, opened in South Korea, is advised/negotiated in Belgium by one Belgian bank and confirmed by a different Belgian bank, it could not be assumed that there were Account Servicing Institution relationships in place between them.


More Definitions of USD Letter of Credit

USD Letter of Credit means each standby letter of credit issued or existing by a USD L/C Issuer under S ection 2.01(a)(ii). USD Letters of Credit will be issued in Dollars and Alternative Currencies.
Sample 1

Related to USD Letter of Credit

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(a).

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • 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.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

  • Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

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

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

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

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

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • 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.

  • Acceptable Letter of Credit means a clean, unconditional, irrevocable letter of credit issued by a Wisconsin bank or any other financial institution acceptable to the commissioner which renews on an annual basis for a 3–year term unless written notice of non- renewal is given to the commissioner and the limited service health organization at least 60 days prior to the renewal date.

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

  • 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.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

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

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).