Special Letters of Credit definition

Special Letters of Credit has the meaning specified in Section 2.01(d).
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Special Letters of Credit means letters of credit issued by Agent from time to time as an administrative convenience for the account of Company or its Subsidiaries on its own behalf and not on behalf (by risk participation or otherwise) of the other Lenders, in an aggregate undrawn amount at any time outstanding plus the aggregate amount of unpaid Reimbursement Obligations not to exceed the Letter of Credit Reserve in effect at such time, each such letter of credit being in an undrawn amount of less than $750,000.
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Special Letters of Credit means the Letters of Credit issued ---------------------------- pursuant to Sections 2.03(h)-(i) and (i)-(i) hereof, each substantially in the form of Exhibits A and B, attached to the Third Amendment to the Prior Credit Agreement, in respect of the Series 1995 Calcasieu Bonds and the Series 1995 Lafayette Bonds.
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Examples of Special Letters of Credit in a sentence

  • The Borrower shall, on the day that is 30 days prior to the latest Termination Date for the Revolving Credit Facility applicable to the Extending Lenders, pay to the Administrative Agent for deposit in the applicable L/C Cash Deposit Accounts an amount sufficient to cause the aggregate amount on deposit in all L/C Cash Deposit Accounts to equal 105% of the aggregate Available Amount of all Letters of Credit (including, for the avoidance of doubt, Special Letters of Credit) then outstanding.

  • The payment by any Issuing Bank of a draft drawn under any Letter of Credit (other than with respect to Special Letters of Credit on and after the latest Termination Date for the Revolving Credit Facility) shall constitute for all purposes of this Agreement the making by such Issuing Bank of a Letter of Credit Advance, which shall be a Base Rate Advance, in the amount of such draft.

  • Liquidity riskThis policy is designed to be held for a long term period.

  • When calculating the Project Yield (but not the Hypothetical Project Yield or the Project Yield – Cash Sweep Commencement) the outstanding principal balance of the Loan will not be deemed reduced by any amounts in any of the Project Yield Fund or by the balance of any Special Letters of Credit.

  • Special Letters of Credit There are numerous special letters of credit designed to meet specific needs of buyers, suppliers, and intermediaries.

  • The Special Adjustment Amount and Special Letters of Credit Amount shall be distributed in the Applicable Ratio in effect at the time of any such distribution among, on the one hand, all of the Company Common Stockholders in accordance with their respective Common Pro Rata Percentages and, on the other hand, all of the Transaction Incentive Plan Payment Recipients in accordance with their respective Transaction Incentive Plan Payment Percentages.


More Definitions of Special Letters of Credit

Special Letters of Credit one or more Commercial Letters of Credit which are denominated either (a) in currencies other than Dollars which are reasonably acceptable to the relevant Issuing Bank or (b) issued (in any currency) from a jurisdiction (other than the United States) which is reasonably acceptable to the relevant Issuing Bank; each, a "Special Letter of Credit". For purposes of this Agreement, the aggregate amount of the L/C Obligations outstanding at any date on account of any Special Letter of Credit which is denominated in a currency other than Dollars shall be the amount of Dollars into which the then outstanding face amount of such Special Letter of Credit would be converted at the spot rate of exchange reasonably determined by the Administrative Agent to be available to it on the most recent to occur of (x) the date of issuance (or, in the case of any Special Letter of Credit which is increased, the date of such increase) of such Special Letter of Credit and (y) the last Business Day of the most recently ended calendar quarter (in each such case, without giving effect to any fluctuation in exchange rates since the date of such issuance, increase or quarter-end, as the case may be).
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Special Letters of Credit means the Letters of ------------------------- Credit issued pursuant to Sections 2.03(h) and (i) hereof, each substantially in the form of Exhibits A and B, attached hereto.
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Special Letters of Credit is denominated in a currency other than Dollars shall be the amount of Dollars into which the then outstanding face amount of such Special Letter of Credit would be converted at the spot rate of exchange reasonably determined by the Administrative Agent to be available to it on the most recent to occur of (x) the date of issuance (or, in the case of any Special Letter of Credit which is increased, the date of such increase) of such Special Letter of Credit and (y) the last Business Day of the most recently ended calendar quarter (in each such case, without giving effect to any fluctuation in exchange rates since the date of such issuance, increase or quarter-end, as the case may be).
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Special Letters of Credit has the meaning specified in the Preliminary Statements.
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Related to Special Letters of Credit

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Existing Letters of Credit means each of the letters of credit issued under the Existing Credit Agreement outstanding on the Closing Date that are described on Schedule 1.01(b).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Letters of Credit as defined in Section 3.1(a).

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any 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 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 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.

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

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

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

  • 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.

  • Existing Letter of Credit means a “Letter of Credit” issued pursuant to the terms of, and as defined in, the Existing Credit Agreement and outstanding on the Closing Date and described on Schedule 1.01(B).

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

  • 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.

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

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Trade Letter of Credit shall have the meaning provided in Section 2.01(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.

  • Commercial Letter of Credit means any letter of credit which is a commercial letter of credit issued in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries.

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

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • 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.

  • 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.