Examples of Dollar Letter of Credit in a sentence
The Dollar Letter of Credit will terminate upon the earlier of (i) the date of termination of the Energy Purchase Agreement with respect to Dollar Contracts; and (ii) the date on which there are no outstanding Dollar Contracts created pursuant to the Energy Purchase Agreement, in each case unless terminated earlier upon the issuance of a Substitute Credit.
In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by any Account Party to, or entered into by any Account Party with, the Lender relating to any Dollar Letter of Credit, the terms and conditions of this Agreement shall control.
Each Dollar Letter of Credit shall expire at or prior to the close of business on the date one year after the date of the issuance of such Dollar Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension).
The applicable Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Dollar Letter of Credit or a Multicurrency Letter of Credit.
Each Dollar Letter of Credit shall be in such form as is consistent with the requirements of the applicable regulatory authorities in Illinois, California, Wisconsin or New York, as reasonably determined by the Lender or as otherwise agreed to by the Lender and XL Capital.