Wachovia Letter of Credit definition

Wachovia Letter of Credit means any letter of credit issued or to be issued by Wachovia.
Sample 1Sample 2
Wachovia Letter of Credit means that certain irrevocable direct-pay letter of credit issued by Wachovia, on behalf of Aladdin, successor by merger to Galaxy, as Applicant, dated as of January 13, 1995, designated with I.D. Number LC870-007339, for the benefit of NationsBank of Georgia, N.A., as trustee under the Industrial Revenue Bond referenced therein.
Sample 1Sample 2
Wachovia Letter of Credit means that irrevocable letter of credit no. LC 968-044594 dated May 17, 1994 issued by Wachovia Bank of North Carolina, National Association in favor of First Citizens Bank & Trust Company, as Trustee under those $7,200,000 South Carolina Jobs-Economic Development Authority Tax-Exempt Adjustable Mode Economic Development Revenue Bonds (Xxxxx & Lord Industries, Inc. Project) Series 1994, for the account of the Borrower in the original maximum amount of $7,830,000, as such letter of credit may be modified, supplemented, extended and replaced from time to time.
Sample 1

Examples of Wachovia Letter of Credit in a sentence

  • If you wish to retain the Wachovia Letter of Credit, originally issued by Corestates, provide an amendment to the Letter of Credit that describes the change in ownership from Corestates to Wachovia.

  • The discharge and injunction provisions of this Plan shall not impact or otherwise affect the Wachovia Letter of Credit Claims.

  • Pledged Bonds shall be released from the security interest created hereunder upon satisfaction of the Obligations with respect to such Pledged Bonds and receipt by the Trustee of notification from the Bank of the reinstatement of the Wachovia Letter of Credit as provided in Section 2.08 of the Indenture.

  • If the Bank sells any of the Collateral pursuant to this Section 8.2, the Bank agrees that it will reinstate the Wachovia Letter of Credit in an amount sufficient to cover all principal and accrued interest on the Bonds so sold for up to 210 days at 15% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • The Letter of Credit Fee with respect to the Wachovia Letter of Credit shall be payable quarterly in arrears on each Payment Date and on the Termination Date.

  • The Borrower agrees to assume all risk of the acts or omissions of the Trustee and transferee of the Wachovia Letter of Credit with respect to its use of the Wachovia Letter of Credit.

  • The Wachovia Letter of Credit shall be deemed to be a Letter of Credit issued and outstanding under this Agreement on and after the Closing Date.

  • Letter of Credit in accordance with the procedures set forth herein, each LC Participant shall be deemed to have irrevocably and unconditionally purchased and received from Wachovia, as the LC Issuer, without recourse or warranty, an undivided interest and participation, to the extent of such LC Participant's LC Participant Commitment, in the Wachovia Letter of Credit (or guaranty pertaining thereto).

  • Each of the following was a condition precedent to the obligation of the Bank to issue the Wachovia Letter of Credit.

  • With respect to the Wachovia Letter of Credit, Wachovia in its capacity as a Lender hereunder and any Affiliate of the Agent or such Affiliate in its capacity as a Lender hereunder shall have the same rights and powers hereunder as any other Lender and may exercise the same as though Wachovia were not acting as the Agent, and the term "Lender" or "Lenders" shall, unless the context otherwise indicates, include Wachovia in its individual capacity and any Affiliate of the Agent in its individual capacity.


More Definitions of Wachovia Letter of Credit

Wachovia Letter of Credit means that certain letter of credit issued by Wachovia in favor of Debtor's landlord, having a current maximum amount available for drawing thereunder as of the Closing Date equal to $1,091,952.
Sample 1
Wachovia Letter of Credit means the letter of credit identified on SCHEDULE 1.1(B) hereto.
Sample 1
Wachovia Letter of Credit means that certain Irrevocable Standby Letter of Credit Number SM202194W in the amount of $2,850,000.00 issued on behalf of Caplease Inc. by Wachovia on February 26, 2003 and expiring on February 18, 2009, listing LaSalle Bank National Association as beneficiary thereunder, and all documents and agreements which govern or otherwise control such Irrevocable Standby Letter of Credit or upon which such Irrevocable Standby Letter of Credit is drawn, as each of the foregoing is amended, restated, modified or supplemented from time to time.
Sample 1
Wachovia Letter of Credit. That certain Irrevocable Standby Letter of Credit Number SM202194W issued on behalf of Caplease by Wachovia Bank, National Association, on February 26, 2003 and expiring on February 18, 2009, listing LaSalle Bank National Association as Beneficiary thereunder, and any related documents or agreements that evidence, govern or otherwise control such Irrevocable Standby Letter of Credit and any draws thereunder.
Sample 1
Wachovia Letter of Credit means that irrevocable letter of credit no. LC 968-044594 dated May 17, 1994, issued by Wachovia Bank of North Carolina, National Association in favor of First Citizens Bank & Trust Company, as trustee under those $7,200,000 South Carolina Jobs-Economic Development Authority Tax-Exempt Adjustable Mode Economic Development Revenue Bonds (Xxxxx & Lord Industries, Inc. Project) Series 1994, for the account of Xxxxx & Lord Industries, Inc. in the original maximum amount of $7,830,000, as such letter of credit may be modified, supplemented, extended and replaced from time to time.
Sample 1

Related to Wachovia Letter of Credit

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

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

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

  • Existing Letter of Credit means each letter of credit previously issued (or deemed issued) for the account of the Borrower, the Company or any of their respective Subsidiaries under the Existing Credit Facilities that (a) is outstanding on the Closing Date and (b) is listed on Schedule 1.01C.

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

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

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

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

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

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

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

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

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

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

  • 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 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).

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or any of its Subsidiaries in the ordinary course of its business.

  • 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.

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

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee may draw thereupon in the event the Servicer fails to deposit SUBI Collections into the 20[__]-[__] SUBI Collection Account on a monthly basis.

  • 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.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit F, signed by a Responsible Official of Borrower and properly completed to provide all information required to be included therein.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).