Standby Letter of Credit Application definition

Standby Letter of Credit Application shall have the meaning set forth in Section 3.03(a) hereof.
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Standby Letter of Credit Application shall have the meaning given such term in Annex I.
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Standby Letter of Credit Application has the meaning set forth in Section 2.01(d)(1)(b).
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Examples of Standby Letter of Credit Application in a sentence

  • Standby Letters of Credit will be issued in accordance with an Irrevocable Standby Letter of Credit Application and Letter of Credit Agreement submitted by Borrower and incorporated herein by this reference, subject to the terms of this Agreement in the event of any conflict herewith.

  • The notice shall be accompanied by the form of the Letter of Credit (which shall be acceptable to the L/C Issuer) and a completed Application for Standby Letter of Credit Application for Documentary Letter of Credit, as applicable, in the form Exhibit B-1 or B-2 attached hereto.

  • Borrower shall pay all bank charges (including charges of Bank) for the issuance of Letters of Credit, together with such additional fee as Bank’s letter of credit department shall charge in connection with the issuance of the Letters of Credit or as set forth in the Standby Letter of Credit Application completed by Borrower.

  • The notice shall be accompanied by the form of the Letter of Credit (which shall be acceptable to the Administrative Agent and the L/C Issuer) and a completed Application for Standby Letter of Credit, Application for Documentary Letter of Credit or Application for Direct-Pay Letter of Credit, as applicable, in the form of Exhibit B-1 or B-2 attached hereto, respectively, or such other application as the applicable L/C Issuer may require.

  • Standby Letters of Credit will be issued in accordance with an Irrevocable Standby Letter of Credit Application and Letter of Credit Agreement submitted by Borrower and incorporated herein by this reference, subject to the terms of this Agreement in the event of any conflict herewith; provided that the economic terms of any Standby Letters of Credit will be governed by this Agreement.

  • Not less than five (5) Business Days prior to the date a standby Letter of Credit is to be issued for its account, the Borrower will complete, execute and deliver to the Bank an Application and Agreement for Standby Letter of Credit (each, a "Standby Letter of Credit Application"), each on the Bank's then current form with the blanks therein appropriately completed, and such other documents as the Bank may reasonably require in connection therewith.

  • Each standby Letter of Credit issued by the Bank will be subject to the terms and conditions of the Standby Letter of Credit Application pursuant to which it is issued as well as the terms and conditions of this Agreement.

  • In reliance on the representations and warranties of Borrower set forth herein, at any time and from time to time from the date hereof through the Business Day immediately prior to the Revolving Maturity Date, Bank shall issue for the account of Borrower a standby letter of credit in an amount not to exceed $3,000,000 (the “Letter of Credit”) upon receipt of a Standby Letter of Credit Application and Agreement, duly executed by Borrower.

  • In the event of a conflict between the provisions of the Standby Letter of Credit Application and the provisions of this Agreement, the provisions of this Agreement will govern.

  • Borrower defaults under any reimbursement obligation or other obligation of Borrower under the Standby Letter of Credit Application and Agreement or other standard form letter of credit application and reimbursement agreement as may be in effect from time to time.


More Definitions of Standby Letter of Credit Application

Standby Letter of Credit Application as defined in subsection 4.3(a).
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Standby Letter of Credit Application means those stand-by letters of credit issued for a Borrower's account in accordance with the terms of Section 2.5.
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Standby Letter of Credit Application shall have the meaning assigned to it in Section 2.21(b).
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Related to Standby Letter of Credit Application

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

  • Credit Application means any application for a Credit Account completed by You.

  • Facility LC Application is defined in Section 2.19.3.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

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

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • U.S. Letter of Credit means any Letter of Credit issued under the U.S. Facility.

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or any of its Subsidiaries in the ordinary course of its business.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • LC Application an application by Borrower Agent to Issuing Bank for issuance of a Letter of Credit, in form and substance satisfactory to Issuing Bank.

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

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

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

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.

  • 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.

  • Standby is displayed, followed by a message stating “Bidding started”. Enter your “Start bid”.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

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

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

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

  • 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.

  • Irrevocable letter of credit means an irrevocable letter on the financial institution’s standard form containing a request that the party to whom it is addressed pay the bearer or a person named therein money as a result of failure to perform or fulfill all the covenants, undertakings, terms, conditions and agreements contained in a contract.