LC Beneficiary definition

LC Beneficiary means the account beneficiary under a Letter of Credit, or any assignee or transferee of such beneficiary with respect to the rights of such beneficiary under such Letter of Credit.
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LC Beneficiary means Deutsche Trustee Company Limited.
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LC Beneficiary. A third party accustomed to acting as Owner Participant in similar financings and having a tangible net worth of at least US$75 mm.
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Examples of LC Beneficiary in a sentence

  • Under the ASRO Contract, Mr. Weil was appointed General Director and in that capacity was empowered to appoint a chief executive manager to administer the daily operations, to define the duties of ASRO’s directors, and to fix their compensation.

  • Borrower assumes all risks of the acts or omissions of any LC Beneficiary or transferee of any Letter of Credit with respect to the use of such Letter of Credit.

  • The Re-instated Letter of Credit will be used solely for the benefit of the LC Beneficiary, who will be entitled to draw thereunder in the event of specified Lease defaults which will be limited to: (i) the bankruptcy or insolvency of Atlas not related to Atlas’ Chapter 11 filing expected in February 2004 and (ii) an event of default under the Lease not related to Atlas’ Chapter 11 filing expected in February 2004.

  • In the event the Re-instated Letter of Credit is drawn upon, the LC Beneficiary will transfer its Owner Participant Interest to the LC Issuer.

  • The Company’s board of directors will have authorized the issuance and sale by it to LC Beneficiary pursuant to this Agreement of the Warrant.

  • Subject to the terms and conditions set forth in this Agreement, LC Bank shall, during the Loan Availability Period, on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue, extend or increase the Stated Amount (as applicable), for the account of Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension or increase in the Stated Amount thereof) to the applicable LC Beneficiary.

  • To facilitate the multi-party payment and cash-flow arrangements required under the Project, an Account Agency and Cash Flow Management Agreement among IDA, SPEG, SOMELEC, SNIM, Kinross, the L/C Beneficiary, an Account Agent, and possibly also SENELEC and EDM, will need to be entered into as a condition of PRG effectiveness.

  • L/C Issuing Bank is a commercial bank acceptable to ADB (as Guarantor under the Guarantee Agreement), the L/C Applicant, and the L/C Beneficiary.

  • Schedule 1.1(d) Existing Letters of Credit Issue Date Expiry Date LC# Beneficiary Balance 3/3/2010 4/1/2015 SM220571 Continental Casualty Company (Evergreen) $18,000 4/14/2010 4/1/2015 SM225374 Ace American Insurance Company (Evergreen) $1,920,277 3/31/2010 4/23/2015 SM234593 International Fidelity Insurance Company $100,000 4/9/2010 3/1/2015 SM231223 Ohio Bureau of Workers' Compensation $185,000 8/10/2010 11/30/2015 SM237655 Baja Sol Ohio, LLC and X.

  • All corporate and other proceedings taken or to be taken in connection with the transactions contemplated hereby to be consummated at or prior to the Closing and all documents incidental thereto or required to be delivered prior to or at the Closing will be reasonably satisfactory in form and substance to LC Beneficiary.


More Definitions of LC Beneficiary

LC Beneficiary means each of U.S. Bank, National Association and America Express Travel Related Services Company, Inc.
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LC Beneficiary means the Charterer.
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LC Beneficiary means the Charterer. XX Xxxx Collateral Account means the dollar account of the Borrower opened or as the context may require, to be opened by the Borrower with the Offshore Account Bank, designated by the Offshore Account Bank to be the “PT HOEGH LNG LAMPUNG — XX Xxxx Collateral Account” and includes any re-designation and each sub-account thereof. LC Contribution means, in relation to any LC Lender at any time, that Lender’s participation in the Letter of Credit or, as the case may be, the principal amount of the LC Loan owing to that LC Lender at that time.
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LC Beneficiary has the meaning given in Section 4(f).
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LC Beneficiary means the beneficiary of a Letter of Credit;
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Related to LC Beneficiary

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • land reform beneficiary , in relation to a property, means a person who -

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Surviving beneficiary or "surviving descendant" means a beneficiary or a descendant who did not predecease the decedent and is not considered to have predeceased the decedent under section 2702.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Third Party Beneficiary means each of the non-NHS bodies set out in the list attached at Schedule 1, as supplied from time to time by the Authority to the Contractor;

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Beneficiary Designation Form means the form established from time to time by the Plan Administrator that the Executive completes, signs, and returns to the Plan Administrator to designate one or more Beneficiaries.

  • Disability Benefit means the benefit set forth in Article 8.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.

  • Eligible beneficiary means a resident of this state who:

  • Beneficiary designation means the naming in a governing instrument of a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in beneficiary form (TOD), of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Termination Benefit means the benefit set forth in Article 7.