Definition of Victoria Letter of Credit


Victoria Letter of Credit means, collectively, (i) the Irrevocable Letter of Credit No. S524150 issued by LaSalle Bank N.A. to the Trustee for the account of Borrower in the original stated amount of $2,181,331.00, and (ii) the Irrevocable Letter of Credit No. S524151 issued by LaSalle Bank N.A. to the Trustee for the account of the Borrower in the original stated amount of $1,090,666.00.
Sample 1

Examples of Victoria Letter of Credit in a sentence

Borrower shall remit to LaSalle a letter of credit fee equal to one and one-fourth percent (1.25%) per annum on the aggregate undrawn face amount of the Victoria Letter of Credit, which fee shall be payable monthly in arrears on each day that interest is payable hereunder.