Letter of Credit Debt Service Account definition

Letter of Credit Debt Service Account means the special account of that name within the Bond Fund established pursuant to Section 6.2 hereof.
Sample 1Sample 2
Letter of Credit Debt Service Account means the account so designated and established pursuant to Section 5.04 in the Bond Fund.
Sample 1Sample 2
Letter of Credit Debt Service Account means the account so designated established pursuant to Section 6.02 in the Bond Fund with the Tender Agent.
Sample 1

Examples of Letter of Credit Debt Service Account in a sentence

  • All moneys (and only those moneys) received by the Trustee from drawings under the Letter of Credit to pay principal of, premium, if any, on and interest on the Bonds shall be deposited in the Letter of Credit Debt Service Account and applied to such purpose.

  • Giving employees’ access to participate in the process of designing the employee retention strategy and other decision making process creates belongingness and employee feel that they are part of the organization and their contribution is valued by the management.

  • The moneys on deposit in the Bond Purchase Fund or in the Letter of Credit Debt Service Account shall not be invested.

  • Liquidated Damages shall be payable by supplier equivalent to 0.5% of value of allocated pumpsets not commissioned corresponding to each week subject to maximum of 4 weeks of delay.

  • Moneys in the Bond Fund (except moneys in the Letter of Credit Debt Service Account and except any moneys held to pay principal of, or premium, if any, or interest on, any Bonds which are deemed paid under Section 10.02) and the Project Fund shall be invested and reinvested by the Trustee in Eligible Investments at the written direction of an Authorized Representative of the Borrower, subject to the requirements of Section 5.12(n) of the Financing Agreement.

  • At the written direction of the Authorized Company Representative, the Trustee shall invest moneys held in the Bond Fund, except moneys held in the Letter of Credit Debt Service Account, in noncallable Governmental Obligations maturing not later than 30 days after such investment but in any case on or before the date or dates when the payments in respect of principal of or interest on the Bonds for which such moneys are held are to become due.

  • Moneys in the Bond Fund (except moneys in the Letter of Credit Debt Service Account and except any moneys representing principal of, or premium, if any, or interest on, any Bonds which are deemed paid under Section 10.02) and the Project Fund shall be invested and reinvested by the Trustee in Eligible Investments at the written direction of an Authorized Representative of the Borrower.

  • Bonds in the Weekly Mode or the Term Mode shall be redeemable only if moneys are on deposit in the Letter of Credit Debt Service Account for reimbursement to the Bank of the redemption price.

  • There is hereby established ---------------------------------- with the Trustee a trust fund designated as the "Bond Fund", within which there shall be established a General Account and a Letter of Credit Debt Service Account.

  • There is hereby created by the Corporation and ordered established with the Trustee the following funds and accounts to be held by the Trustee: (a) the Bond Fund and therein the General Account and the Letter of Credit Debt Service Account, (b) the Construction Fund, (c) the Cost of Issuance Fund, (d) the Prepayment Fund, (e) the Receipts Fund, and (f) the Rebate Fund.


More Definitions of Letter of Credit Debt Service Account

Letter of Credit Debt Service Account means the account so designated and established pursuant to Section 4.03 in the Sinking Fund.
Sample 1
Letter of Credit Debt Service Account means the account so designated and established pursuant to Section 5.2 of this Indenture.
Sample 1
Letter of Credit Debt Service Account means the special account of that name within the Debt Service Fund established pursuant to Section 6.01 hereof.
Sample 1
Letter of Credit Debt Service Account means the account established by
Sample 1

Related to Letter of Credit Debt Service Account

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Letter of Credit Collateral Account has the meaning assigned to such term in Section 2.05(k).

  • Facility LC Collateral Account is defined in Section 2.19.11.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • 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.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the obligations of the Borrower to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Limit means $5,000,000.

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

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Collateral has the meaning specified in Section 6.02(b).

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.