Letter of Credit definition

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

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

Letter of Credit means any standby letter of credit issued hereunder.

Examples of Letter of Credit in a sentence

• The City may draw on the Letter of Credit after a written notice of default by Xxxxxxxxx.

• If Seller fails to extend or replace any Letter of Credit by the date that is thirty (30) days prior to the expiration thereof or fails to replace any Letter of Credit within the time period required by the fourth sentence of this Section 8.2, Buyer shall be entitled to draw the full amount of the Letter of Credit and treat the proceeds as Performance Assurance in the form of cash.

• Said Grading Letter of Credit or other security shall remain in place until all work set forth in this Agreement and attached Exhibit B (Final Grading and Erosion control Plans) has been completed and approved by the City Engineer.

• Said Grading Letter of Credit or other security shall remain in place until all work set forth in this Agreement described within the full Grading Agreement and Stormwater Maintenance Agreement (Final Grading and Erosion control Plans) has been completed and approved by the City Engineer.

• As a condition of approving this Agreement, the Developer acknowledges and agrees that no reduction in the Letter of Credit shall be made until the Legal Description for the Property has been correctly described and recorded with the full Grading Agreement and Stormwater Maintenance Agreements at Anoka County, as required by the City.

More Definitions of Letter of Credit

Letter of Credit means any letter of credit issued hereunder providing for the payment of cash upon the honoring of a presentation thereunder and shall include the Existing Letters of Credit. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

Letter of Credit means any (i) Standby Letter of Credit and (ii) Commercial Letter of Credit, in each case, issued or to be issued by an Issuing Bank for the account of Borrower pursuant to Section 2.17.

Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

Letter of Credit is a standby or commercial letter of credit issued by Bank upon request of Borrower based upon an application, guarantee, indemnity, or similar agreement.

Letter of Credit of a Person means a letter of credit or similar instrument which is issued upon the application of such Person or upon which such Person is an account party or for which such Person is in any way liable.

Letter of Credit shall have the meaning provided in Section 2.01(a).

Letter of Credit means any standby or commercial letter of credit issued hereunder and shall include the Existing Letters of Credit. Letters of Credit may be issued in Dollars or in an Alternative Currency.