Standby Letter of Credit. To ensure payment by Seller of all costs and expenses incurred by Company (i) in excess of the Total Estimated Interconnection Cost paid in connection with the Company-Owned Interconnection Facilities to be provided and/or constructed by Company described in Section 3 (Seller Payment To Company for Company-Owned Interconnection Facilities and Review Of Facility) of this Attachment G (Company-Owned Interconnection Facilities), and (ii) if applicable, in excess of the Total Estimated Relocation Costs paid in connection with the relocation of the Company-Owned Interconnection Facilities as provided in Section 5 (Relocation of Company-Owned Interconnection Facilities) of this Attachment G (Company-Owned Interconnection Facilities), Seller shall obtain an Irrevocable Standby Letter of Credit with no Documentary Requirement ("Standby Letter of Credit") in accordance with the requirements of Section 6(b) (Requirements of the Standby Letter of Credit) of this Attachment G (Company-Owned Interconnection Facilities), wherein Company shall receive payment from the bank upon request by Company.
Standby Letter of Credit. (a) On the date of this Project Agreement, Project Co shall deliver, or cause to be delivered, to the CTC an irrevocable standby letter of credit (the “Standby Letter of Credit”) in the amount of [REDACTED] substantially in the form of Schedule 28 – Standby Letter of Credit.
Standby Letter of Credit. (a) The amount of the Aggregate Protection which Servicer or Member may maintain pursuant to this Exposure Protection Schedule shall include the sum of (a) the amount remaining to be drawn upon any valid and outstanding Letter of Credit, in lieu of maintaining the amount of the Deposit in an amount equal to the Required Amount and (b) the proceeds of any previous draw on a Letter of Credit held by Servicer or Member and not applied. Any such letter of credit shall be in form and substance acceptable to Servicer and issued by a financial institution acceptable to Servicer, as determined by Servicer in its sole discretion. Notwithstanding any initial acceptance of a Letter of Credit, Servicer reserves the right at any time to either (i) demand delivery of a substitute Letter of Credit issued by different institution or (ii) withhold as Reserved Funds amounts necessary so that the Deposit equals the Required Amount if, in Servicer’s sole discretion, it determines that it cannot or will not continue to accept non-payment risk from the institution obligated on a Letter of Credit previously delivered to Servicer. At such time as the Servicer may no longer draw on a Letter of Credit, Servicer may require that the Deposit equal the Required Amount.
Standby Letter of Credit. (a) The amount of the Aggregate Protection which Servicer or Member may maintain pursuant to this Exposure Protection Schedule shall include the sum of (a) the amount remaining to be drawn upon any valid and outstanding Letter of Credit, in lieu of maintaining the amount of the Deposit in an amount equal to the Required Amount and (b) the proceeds of any previous draw on a Letter of Credit held by Servicer or Member and not applied. Any such letter of credit shall be in form and substance acceptable to Servicer and issued by a financial institution ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. acceptable to Servicer, as determined by Servicer in its sole discretion. Notwithstanding any initial acceptance of a Letter of Credit, Servicer reserves the right at any time to either (i) demand delivery of a substitute Letter of Credit issued by different institution or (ii) withhold as Reserved Funds amounts necessary so that the Deposit equals the Required Amount if, in Servicer’s sole discretion, it determines that it cannot or will not continue to accept non-payment risk from the institution obligated on a Letter of Credit previously delivered to Servicer. At such time as the Servicer may no longer draw on a Letter of Credit, Servicer may require that the Deposit equal the Required Amount.
Standby Letter of Credit. (h) The amount of the Aggregate Protection which Member may maintain pursuant to this Exposure Protection Schedule shall include the sum of (a) the amount remaining to be drawn upon any valid and outstanding Letter of Credit, in lieu of maintaining the amount of the Deposit in an amount equal to the Required Amount and (b) the proceeds of any previous draw on a Letter of Credit held by Member and not applied. Any such letter of credit shall be in form and substance acceptable to Member and issued by a financial institution acceptable to Member, as determined by Member in its reasonable discretion (which may include taking into account regulatory limitations imposed on Member regarding exposure to particular institutions). Notwithstanding any initial acceptance of a Letter of Credit, Member reserves the right at any time *****Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. to either (i) demand delivery of a substitute Letter of Credit issued by different institution or (ii) withhold as Reserved Funds amounts necessary so that the Deposit equals the Required Amount if, in Member’s reasonable discretion (which may include taking into account regulatory limitations imposed on Member regarding exposure to particular institutions), it determines that it cannot or will not continue to accept non-payment risk from the institution obligated on a Letter of Credit previously delivered to Member. At such time as the Member may no longer draw on a Letter of Credit, Member may require that the Deposit equal the Required Amount.
Standby Letter of Credit. (a) If Project Co has provided Contracting Authority with multiple standby letters of credit in accordance with Section 9.1(2) of the RFP, for purposes of this Section 2.2 each of the multiple irrevocable standby letters of credit is referred to as a Standby Letter of Credit for purposes of this Project Agreement.
Standby Letter of Credit. Within fifteen (15) days after the Commencement Date, Landlord shall deliver a notice to Tenant specifying the anticipated amount, if any, of the Tenant Improvement Allowance in excess of $25 per rentable square foot used by Landlord related to the design and construction of the Tenant Improvements. Within thirty (30) days of Tenant's receipt of such notice, in addition to the Security Deposit, Tenant shall deposit with Landlord a "Standby Letter of Credit" in the amount of such excess Tenant Improvement Allowance. The Standby Letter of Credit shall: (i) be issued by a commercial bank, (ii) have an expiration date no earlier than the thirty-first (31st) month of the Lease Term, (iii) provide for payment of all or any part of such amount to Landlord upon the issuer's receipt of a sight draft from Landlord along with Landlord's certification that such specified amount is owing to Landlord with no other conditions, and (iv) otherwise in a form and content reasonably satisfactory to Landlord. Provided that no Event of Default by Tenant under this Lease has previously occurred or is then currently existing, Tenant's obligation to maintain the Standby Letter of Credit shall cease as of the first day of the thirty first (31 st) full calendar month of the Lease Term. In the event that an Event of Default by Tenant occurs prior to such date, then Tenant shall promptly provide to Landlord, prior to the expiration of the original Standby Letter of Credit a replacement Standby Letter of Credit satisfying the requirements set forth above, except that such replacement Standby Letter of Credit shall have an expiration date no earlier than the expiration date for the initial Lease Term. In the event that Tenant, after using diligent efforts, is unable to obtain a Standby Letter of Credit with the required term, Tenant shall be permitted to submit a Standby Letter of Credit with a lesser term, provided that such Standby Letter of Credit shall contain an "evergreen" renewal clause which allows the Standby Letter of Credit to be drawn in full unless a replacement Standby Letter of Credit, meeting the above requirements, is provided to Landlord at least twenty (20) days prior to the expiration of the existing Standby Letter of Credit. Any Standby Letter of Credit having a term expiring prior to the date through which Tenant is to provide a Standby Letter of Credit shall contain such an "evergreen" clause. The Standby Letter of Credit is never required to be in an amount great...
Standby Letter of Credit. The Bonds will have the benefit of the Standby Letter of Credit in favour of the Trustee, on behalf of itself and the holders of the Bonds, issued by the LC Bank. The Standby Letter of Credit shall be drawable by the Trustee as beneficiary under the Standby Letter of Credit on behalf of itself and the holders of the Bonds upon the presentation of a demand by authenticated SWIFT (or by such other method of communication permitted under the Standby Letter of Credit) sent by or on behalf of the Trustee to the LC Bank in accordance with the Standby Letter of Credit (the “Demand”) stating that (i) the Issuer has failed to comply with Condition 4(b) in relation to pre-funding the amount that is required to be pre-funded under the Conditions and/or failed to provide the Required Confirmations (as defined below) in accordance with Condition 4(b), (ii) an Event of Default (as defined in Condition 10) has occurred and the Trustee has given notice to the Issuer that the Bonds are immediately due and payable in accordance with Condition 10, or (iii) the Issuer has failed to pay the fees, costs, expenses and other amounts it is obligated to pay under the Conditions or in connection with the Bonds, the Trust Deed, the Agency Agreement and/or any other transaction documents relating to the Bonds when due and such failure has continued for a period of seven days from the date of the Trustee delivering its demand therefor to the Issuer in accordance with the Conditions. Only one drawing under the Standby Letter of Credit is permitted. Such drawing on the Standby Letter of Credit will be payable in U.S. dollars to or to the order of the Trustee at the time and to the account specified in the Demand presented to the LC Bank. Payment received by the Trustee in respect of the Demand will be deposited into the LC Proceeds Account. The payment made under the Standby Letter of Credit in respect of any amount payable under the Conditions or in connection with the Bonds, the Trust Deed and/or the Agency Agreement shall, to the extent of the drawing paid to or to the order of the Trustee, satisfy the obligations of the Issuer and the Guarantor in respect of such amount payable under the Conditions or in connection with the Bonds, the Trust Deed or the Agency Agreement. The LC Bank’s liability under the Standby Letter of Credit shall be expressed and payable in U.S. dollars and shall not exceed U.S.$56,577,500. The Standby Letter of Credit expires at 6:00 p.m. (Hong Kong time) on 21 ...
Standby Letter of Credit. Reliance Infocomm Limited Reliance Centre, 00, Xxxxxxxx Xxxxxxxxx Marg, Xxxxxxx Estate, Mumbai — 400 001. Standby Letter of Credit No: Date: Amount: Re Purchase Order (“PO”) No._________________ between ___________ & ________________ dated ______________, Broadband Access Network General Terms And Conditions dated ___________________ and Broadband Access Equipment Agreement/ Broadband Access Software Agreement/ Broadband Access Services Agreement dated _________________ (hereinafter refer as “CONTRACT”) Dear Sirs,
Standby Letter of Credit. (a) The amount of the Aggregate Protection which Servicer or Member may maintain pursuant to this Exposure Protection Schedule shall include the sum of (a) the amount remaining to be drawn upon any valid and outstanding Letter of Credit and (b) the proceeds of any previous draw on a Letter of Credit held by Servicer or Member and not applied. At such time as the Servicer or Member may no longer draw on the Letters of Credit, Servicer may require that the amount of the Deposit plus proceeds of any draw on the Letters of Credit held by Servicer or Member and not applied equal the Required Amount.
