Ford Letter of Credit definition

Ford Letter of Credit means an irrevocable letter of credit issued for the account of Ford or an affiliate thereof in favor of the Trustee for the benefit of a Series of Notes or a class of a Series of Notes.
Sample 1Sample 2Sample 3
Ford Letter of Credit means a Letter of Credit in the amount of $1,000,000.
Sample 1

Examples of Ford Letter of Credit in a sentence

  • Ford, in its capacity as accountholder of a Ford Letter of Credit, is an express third party beneficiary of the Base Indenture and this Series Supplement to the extent of the provisions relating to Ford.

  • Each of the Insurer, Ford, in its capacity as accountholder of a Series 2005-1 Ford Letter of Credit, and each Interest Rate Hedge Provider is an express third party beneficiary of (i) the Base Indenture to the extent of provisions relating to any Enhancement Provider, in the case of the Insurer and the Series 2005-1 Interest Rate Hedge Provider, or to the extent of the provisions relating to Ford, in the case of Ford and (ii) this Series Supplement.

  • Each of the Insurer, Ford, in its capacity as accountholder of a Series 2005-2 Ford Letter of Credit, and each Interest Rate Hedge Provider is an express third party beneficiary of (i) the Base Indenture to the extent of provisions relating to any Enhancement Provider, in the case of the Insurer and the Series 2005-2 Interest Rate Hedge Provider, or to the extent of the provisions relating to Ford, in the case of Ford and (ii) this Series Supplement.

  • Each of the Insurer and Ford in its capacity as accountholder of a Series 2004-1 Ford Letter of Credit is an express third party beneficiary of (i) the Base Indenture to the extent of provisions relating to any Enhancement Provider, in the case of the Insurer, or to the extent of the provisions relating to Ford, in the case of Ford and (ii) this Series Supplement.

  • Each of the Insurer, Ford, in its capacity as accountholder of a Series 2005-3 Ford Letter of Credit, and each Interest Rate Hedge Provider is an express third party beneficiary of (i) the Base Indenture to the extent of provisions relating to any Enhancement Provider, in the case of the Insurer and the Series 2005-3 Interest Rate Hedge Provider, or to the extent of the provisions relating to Ford, in the case of Ford and (ii) this Series Supplement.

  • Each of the Insurer, Ford, in its capacity as accountholder of a Series 2005-4 Ford Letter of Credit, and each Interest Rate Hedge Provider is an express third party beneficiary of (i) the Base Indenture to the extent of provisions relating to any Enhancement Provider, in the case of the Insurer and the Series 2005-4 Interest Rate Hedge Provider, or to the extent of the provisions relating to Ford, in the case of Ford and (ii) this Series Supplement.

  • On or prior to the date of any drawing under a Series 2004-1 Ford Letter of Credit pursuant to Section 2.08(b) or (c) of this Series Supplement, HVF shall establish and maintain in the name of the Trustee for the benefit of the Series 2004-1 Noteholders, the Insurer and Ford, an account (the “Series 2004-1 Ford Cash Collateral Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2004-1 Noteholders, the Insurer and Ford.

  • Ford shall not be required to cause to be issued by an Eligible Ford Letter of Credit Provider any Ford Letter of Credit to the extent that, after giving effect thereto.

  • The Series Supplement pursuant to which the Series of Notes being supported by such Ford Letter of Credit was issued shall be substantially in the form as of the date hereof of the Series Supplement relating to the Series 2004-1 Notes, the Series 2005-1 Notes, the Series 2005-2 Notes, the Series 2005-3 Notes or the Series 2005-4 Notes.

  • Notwithstanding anything to the contrary herein, no Ford Letter of Credit may be issued other than Permitted Letters of Credit.

Related to Ford Letter of Credit

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • 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.

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

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

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

  • 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.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

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

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit Series Collections into the 20[•]-[•] Series Collection Account by the related Deposit Date.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

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

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

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

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • 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.

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • 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 Agreement has the meaning specified in Section 2.03(a).

  • 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.

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or any of its Subsidiaries in the ordinary course of its business.

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

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.