Acceptable Letter of Credit. If its Vessel has been delivered and the Effective Date of any Acceptable Charter or Alternative Charter for such Vessel has not occurred or will not occur within a period of 90 days following the Delivery Date of such Vessel or the end of any previous Acceptable Charter (as applicable), ensure that an Acceptable Letter of Credit or Acceptable Guarantee is provided in an amount at least equal to the expected aggregate Senior Debt Service and net scheduled payments due in respect of any Hedging Instrument payable by it other than during any such 90 day period until the Effective Date of such Acceptable Charter or Alternative Charter.
Acceptable Letter of Credit an irrevocable standby letter of credit issued by an Acceptable Bank naming Project Co as the beneficiary either (a) in substantially the same form as set out in Part B to Schedule 3 or (b) in another form acceptable to Project Co, and in either case (i) has a stated expiration date of not earlier than thirty (30) Days after the date on which payment for a Diverted Cargo is due from the Transporter to Project Co in accordance with the terms of Schedule 2 (provided that, if such Acceptable Letter of Credit is not provided in connection with a specific Diverted Cargo, such Acceptable Letter of Credit may be issued with any stated expiration date but may only be used to satisfy the Diversion Condition set forth in Paragraph 1.3.1(A) of Part A of Schedule 2 for Diverted Cargos with respect to which payment is due up to thirty (30) Days before such expiration date), (ii) provides that the location for the submittal of documents required for draws and the location for disbursements under such letter of credit will be New York, New York and (iii) is payable in USD in immediately available funds;
Acceptable Letter of Credit. (a) Notwithstanding any other provision hereof or any other Funding Document, so long as no Default or Event of Default shall have occurred and be continuing, each Reserve Account may be funded with, and any cash, Permitted Investments or other funding vehicle on deposit in any such Reserve Account may be withdrawn and replaced by, an Acceptable Letter or Credit that is issued by an Acceptable Letter of Credit Provider. Any such Acceptable Letter of Credit provided to fund the Handback Requirements Reserve Account must also satisfy the relevant requirements therefor under the Concession Agreement.
Acceptable Letter of Credit. (a) As security for the Lessee’s Obligations owing to the Lessor and the Owner Participant, the Lessee (i) shall cause the Initial Letter of Credit to be issued and delivered on the Closing Date and (ii) shall maintain an Acceptable Letter of Credit in full force and effect at all times during the Lease Term and until the indefeasible payment in full of all Rent by the Lessee.
Acceptable Letter of Credit. An irrevocable letter of credit which (a) is issued and drafted to Lender at Lender’s address in Los Angeles, California for notices hereunder, or such other address as Lender shall provide to Borrower; (b) is drawn on the account of Borrower identified in 14961843v.6 this Agreement (or on Affiliate of Borrower); (c) provides all draws on the letter of credit are “at sight” on a Society for Worldwide Interbank Financial Telecommunications (SWIFT) system basis, and otherwise subject to such issuing bank’s standard policies for presentation; (d) has an expiration date contained in the letter of credit no earlier than thirty (30) days after the Maturity Date (or expressly provides that such letter of credit shall be automatically renewed for successive one (1)-year terms unless thirty (30) days prior written notice of non-renewal is provided in writing to Lender); (e) provides that the only requirement to be fulfilled by Lender as a condition to drawing on the letter of credit shall be a statement signed by an authorized signatory on behalf of Lender that Lender is permitted to draw on the letter of credit pursuant to the terms of this Agreement; (f) provides that all charges under the letter of credit are to be paid by Borrower; (g) is issued by a United States bank reasonably acceptable to Lender and reasonably approved by Lender prior to issuance of the letter of credit; (h) specifies that the letter of credit is assignable by the beneficiary thereof at no cost or expense to the beneficiary; (i) permits partial and multiple drawings thereunder; (j) may be drawn upon by Lender pursuant to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system; and (k) is issued subject to the International Standby Practices (ISP98), International Chamber of Commerce Publication 590. ACM: Any asbestos containing materials.
Acceptable Letter of Credit. In the event Borrower delivers an Acceptable Letter of Credit as a cure for failing to obtain Drug Approval in accordance with Section 5.14 of this Agreement, Borrower shall, if the Issuer ceases to have a Credit Rating of both “A+” or higher by S&P and “A1” or higher by Xxxxx’x, Borrower shall, within twenty (20) Business Days of the rating downgrade, replace the Acceptable Letter of Credit with one issued by a bank having such rating. Borrower shall pay any and all costs and expenses associated with Borrower’s changing the Issuer or substituting a new letter of credit for the then existing Acceptable Letter of Credit.
Acceptable Letter of Credit. The ABL Agent shall have received an original Acceptable Letter of Credit (as defined in the ABL Loan Agreement) in an amount of not less than $20,000,000. 4.03
Acceptable Letter of Credit. This term shall mean an irrevocable standby letter of credit in form and substance acceptable to Owner in its discretion, naming Owner as the party entitled to demand payment and present draw requests thereunder, which letter of credit:
Acceptable Letter of Credit. 2.1 Acceptable Letter of Credit or Cash Deposit to Servicers.
Acceptable Letter of Credit
