Working Capital Letter of Credit definition

Working Capital Letter of Credit means a Letter of Credit used for Working Capital Purposes.
Sample 1Sample 2Sample 3
Working Capital Letter of Credit shall have the meaning ascribed thereto in Section 3.01(a)(i).
Sample 1Sample 2
Working Capital Letter of Credit means a Letter of Credit issued under the Working Capital Facility.
Sample 1

Examples of Working Capital Letter of Credit in a sentence

  • Working Capital Letters of Credit issued hereunder shall constitute utilization of each of the aggregate Revolving Commitments and aggregate L/C Commitments, each in an amount equal to the Available Amount of such Working Capital Letter of Credit.

  • Only Letters of Credit that are either a DSR Letter of Credit or a Working Capital Letter of Credit shall be issued.

  • Lender shall make the requested funds or Working Capital Letter of Credit available to Borrower at Lender's principal banking office in Houston, Texas.

  • Working Capital Letter of Credit: This mode of trade financing is provided fully in the form of an LC instrument negotiated from foreign countries as requested by an eligible client.

  • Borrower's requests for advances (whether for cash or Working Capital Letter of Credit) under the Loan shall specify the aggregate amount of the advance and the date of such advance.

  • Within the limits of the Working Capital Letter of Credit Facility and subject to the limits referred to above, the Borrower may request the issuance of Working Capital Letters of Credit under this Section 3.01, repay any Working Capital L/C Advance resulting from drawings thereunder pursuant to Section 3.04(b) and request the issuance of additional Working Capital Letters of Credit under this Section 3.01.

  • Within five Business Days of the C of O Date for each Development Project, Tenant shall deliver or cause to be delivered to Landlord the Working Capital Letter of Credit.

  • The Working Capital Letter of Credit shall comply with all of the terms and conditions applicable to the Letter of Credit, and shall be in a form acceptable to Landlord.

  • The basis, where the ideas have been exploited in, fits best into the ‘product’ innovation space of Tidd et al.

  • Chile argues that the lighthouse arrangements of 1968-1969 are also relevant in that they involved a joint verification of the exact physical location of Boundary Marker No. 1.


More Definitions of Working Capital Letter of Credit

Working Capital Letter of Credit is defined in Section 2.2.1.
Sample 1
Working Capital Letter of Credit means for each Development Project, the Letter of Credit provided to Landlord at the time of the issuance of the C of O for such Development Project in an amount to be calculated by Landlord in accordance with the terms of the Term Sheet.
Sample 1
Working Capital Letter of Credit means a Letter of Credit issued under Section 2.03(a)(i).
Sample 1
Working Capital Letter of Credit means the letter of credit issued by the Revolving Loan Lender/Issuing Bank pursuant to Section 2.04 (Working Capital Letters of Credit).
Sample 1
Working Capital Letter of Credit means a Letter of Credit used for Working Capital Purposes. “Working Capital Loan” means a loan made by a Senior Lender pursuant to Section 2.03 (Borrowing of Working Capital Loans). “Working Capital Loan Borrowing” means a borrowing of a Working Capital Loan pursuant to Section 2.03 (Borrowing of Working Capital Loans). “Working Capital Purposes” means either (a) Gas Working Capital Purposes or (b) General Working Capital Purposes, as applicable. “Working Capital Sublimit” means seven hundred forty million Dollars ($740,000,000), as the same may be increased from time to time in accordance with Section 2.05 (Incremental Commitments).
Sample 1

Related to Working Capital Letter of Credit

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

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

  • 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.

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

  • 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.

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

  • 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.

  • 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.

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

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • 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.

  • 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.

  • 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.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • 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.

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

  • 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).

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).

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

  • 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.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

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

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.