Letter of Credit Payment definition

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 Payment means any payment made by the Agent on behalf of the Lenders under a Letter of Credit, to the extent that such payment has not been repaid by the Borrower.

Letter of Credit Payment means, as applicable (i) all payments made by a Facing Agent pursuant to either a draft or demand for payment under a Letter of Credit or (ii) all payments by Revolving Lenders to a Facing Agent in respect thereof (whether or not in accordance with their Pro Rata Share).

Examples of Letter of Credit Payment in a sentence

• No Lender’s obligation to participate in any Letter of Credit or to make available to the applicable Facing Agent such Revolving Lender’s Pro Rata Share of any Letter of Credit Payment made by the applicable Facing Agent shall be affected by any other Revolving Lender’s failure to participate in the same or any other Letter of Credit or by any other Revolving Lender’s failure to make available to the applicable Facing Agent such other Lender’s Pro Rata Share of any Letter of Credit Payment.

• Upon receipt of Federal funds for vocational education, either by direct treasury check or by preparation of Letter of Credit Payment Voucher, the State Board will deposit said funds in the proper account with the Treasurer, State of Indiana.

• However, as a special case 90% Letter of Credit Payment terms is accepted only in case of foreign supplier and balance 10% after satisfactory, installation report received from the user department.

• Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the Issuer shall notify the Agent and the Agent shall promptly notify the applicable Borrower and each Lender as to the amount to be paid by the Issuer as a result of such demand and the proposed payment date (the "Letter of Credit Payment Date").

• In consideration and in furtherance of the foregoing, each Revolving Credit Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the applicable Issuing Bank, such Lender’s Applicable Revolving Credit Percentage of each Letter of Credit Payment made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph (ii) below, or of any reimbursement payment required to be refunded to the Borrower for any reason.

More Definitions of Letter of Credit Payment

Letter of Credit Payment means as applicable (a) all payments made by the Facing Agent pursuant to either a draft or demand for payment under a Letter of Credit or (b) all payments made by the Lenders to the Facing Agent in respect thereof.

Letter of Credit Payment means, as applicable (a) all payments made by Facing Bank pursuant to either a draft or demand for payment under a Letter of Credit or (b) all payments made by Lenders having Revolving Commitments to Facing Bank in respect thereof (whether or not in accordance with their Revolving Pro Rata Share).

Letter of Credit Payment means as applicable (a) all payments made by the respective Facing Agent pursuant to either a draft or demand for payment under a Letter of Credit or (b) all payments by Lenders having Multicurrency Revolving Commitments to such Facing Agent in respect thereof (whether or not in accordance with their Multicurrency Revolver Pro Rata Share).

Letter of Credit Payment means any amount paid or required to be paid by the Bank 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 Payment means any amount paid or required to be paid by the Agent in its capacity as issuer of a Letter of Credit as a result of a draw against any Letter of Credit.

Letter of Credit Payment means the amount advanced by the Lender to the beneficiary of a Letter of Credit which is not evidenced by the Note and for which the Lender remains unreimbursed by the Borrower.

Letter of Credit Payment means as applicable (a) all payments made by the respective Facing Agent pursuant to either a draft or demand for payment under a Letter of Credit or (b) all payments by Revolving Lenders under any Revolving Facility having Multicurrency Revolving Commitments to such Facing Agent in respect thereofunder such Revolving Facility (whether or not in accordance with their Multicurrency Revolver Pro Rata Share under such Revolving Facility).