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 ***** 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. (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. (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. Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby letters of credit for the account of Borrower for the purposes of providing a performance guarantee for certain work to be performed by Borrower or its affiliates in accordance with the Specific Export Order(s) (“Standby LCs”); provided however, that the aggregate amount of all outstanding Standby LCs shall not at any time exceed Nine Million Five Hundred Thousand and No/100 Dollars ($9,500,000.00). The form and substance of each Standby LC shall be subject to approval by Bank, in its sole discretion. No Standby LC shall have an expiration date later than one year from the date of issuance, subject to any extension or renewal that may be agreed to by Bank; provided that no Standby LC shall have an expiration date subsequent to the maturity date of the Line of Credit. The outstanding amount of all Standby LCs shall be reserved under the Line of Credit, draws thereon applied to and considered advances on the Line of Credit, which Line of Credit shall not otherwise be available for any other extensions of credit thereunder. Each Standby LC shall be subject to the additional terms and conditions of Bank's standard Standby Letter of Credit agreement and all applications and related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Standby LC shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, for the full amount of the drawing at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit.
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. On or before the Commencement Date, Tenant shall deliver to Landlord an irrevocable standby letter of credit (“Letter of Credit”) addressed to Landlord as beneficiary and issued by a financial institution reasonably acceptable to Buyer in an amount equal to the Additional Minimum Monthly Rent that Tenant is obligated to pay to Landlord under this Lease from the Commencement Date to the Expiration Date of this Lease, less the Holdback Amount (as defined below). The terms of the Letter of Credit shall be agreed to by Landlord and Tenant prior to the Commencement Date, and the Letter of Credit shall be deposited with American Eagle Title Insurance Company (the “Escrow Agent”) on the Commencement Date, to be held by Escrow Agent in compliance with the Post-Closing Escrow Agreement (as defined below). If Tenant fails to pay Additional Minimum Monthly Rent when due under this Lease and such default is not cured within any applicable notice and cure period, Landlord shall have the right to draw on the Letter of Credit for payment of Additional Minimum Monthly Rent by giving written notice to Tenant and the Escrow Agent, and submitting to Escrow Agent, for delivery to the issuer of the Letter of Credit, a drawing certificate in the form attached to the Letter of Credit. The amount of the Letter of Credit shall be reduced annually as the remaining Additional Minimum Monthly Rent to be paid by Tenant under this Lease is reduced. The Letter of Credit shall be released and cancelled upon payment in full of all Additional Minimum Monthly Rent due to Landlord under this Lease. If the Letter of Credit has an annual expiration date or an expiration date other than the Expiration Date of this Lease, Tenant shall cause the Letter of Credit to be renewed at least ninety (90) days prior to such expiration date. At the Closing (as defined in Section 3.2 of this Lease), Escrow Agent shall retain a portion of the Purchase Price equal to Two Hundred Twenty Thousand Seven Hundred Eighty-Two and No/100 Dollars ($220,782.00) (the “Holdback Amount”), in an escrow account to be held by Escrow Agent pursuant to a post-closing escrow agreement to be executed and delivered at Closing by Landlord, Tenant, and Escrow Agent. The Holdback Amount shall be held and disbursed by Escrow Agent and applied to the last three (3) months of Additional Minimum Monthly Rent due under this Lease in compliance with the Post-Closing Escrow Agreement.
Standby Letter of Credit. (a) On the date of this Project Agreement, Project Co shall deliver, or cause to be delivered, to JBH 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. Project Co may, with the consent of JBH, which consent may be withheld in the sole discretion of JBH, provide multiple irrevocable standby letters of credit delivered from Canadian Imperial Bank of Commerce as approved and confirmed by JBH (each a “Letter of Credit Provider”) in an amount totalling $[REDACTED] and each substantially in the form of Schedule 28 – Standby Letter of Credit. For the purposes of this Section 2.2, each of the multiple irrevocable standby letters of credit is referred to as a Standby Letter of Credit.
