Trade LC definition

Trade LC a trade or commercial letter of credit.
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Trade LC means any irrevocable trade letter of credit available against sight or time drafts and payable at sight, issued by the Issuing Bank for the account of the Borrower pursuant to Section 2.05 hereof.
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Examples of Trade LC in a sentence

  • The board found that Dougherty did not prepare the required written notice until “sometime in 2014 at the earliest and perhaps as late as 2017” and that the only method Dougherty and Cicero had of distributing the notice was to leave stacks of copies throughout the office.

  • Kč, pohledávky starší než 1 rok jsou v konkurz- ním řízení a byly na ně již v předešlých letech vytvořeny opravné položky daňové ve výši 100 %, tedy 6 378 tis.

  • No such Letter of Credit Obligation or Eligible Trade L/C Obligation shall have an expiry date which is more than one year following the date of issuance thereof, and Agent and the Lenders shall be under no obligation to incur Letter of Credit Obligations or Eligible Trade L/C Obligations in respect of any Letter of Credit or Eligible Trade L/C having an expiry date which is later than the Commitment Termination Date.

  • The reel shall be provided with a ⅔ horsepower, 12-volt electric motor for rewinding the hose on to the reel.

  • In addition, Borrower agrees that Borrower (and not Agent or any Lender) shall be responsible for the payment of all L/C Issuer fees, costs, and expenses in connection with the issuance of Letters of Credit and Eligible Trade L/Cs at such times and in such amounts as Borrower and L/C issuer shall agree, pursuant to the application and related documentation under which any Letter of Credit or Eligible Trade L/C is issued.

  • The making of the Loans by Lenders to Borrower, the incurrence of the Letter of Credit Obligations and the Eligible Trade L/C Obligations on behalf of Borrower, the application of the proceeds thereof and repayment thereof will not violate any provision of any such statute or any rule, regulation or order issued by the Securities and Exchange Commission.

  • The failure of any Lender to make available to Agent for Agent's own account its Pro Rata Share of any such Revolving Credit Advance or payment by Agent under or in respect of a Letter of Credit or Eligible Trade L/C shall not relieve any other Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Lender shall be responsible for the failure of any other Lender to make available such other Lender's Pro Rata Share of any such payment.

  • If any deficit remains after repayment in full of the aggregate outstanding Revolving Credit Advances and Swing Line Advances, Borrower shall provide cash collateral for the Letter of Credit Obligations and Eligible Trade L/C Obligations in the manner set forth in Schedule B to the extent required to eliminate such deficit.

  • Borrower hereby pledges and grants to Agent, on behalf of Lenders, a security interest in all such funds and Cash Equivalents held in the Cash Collateral Account from time to time and all proceeds thereof, as security for the payment of all amounts due in respect of the Letter of Credit Obligations, Eligible Trade L/C Obligations and other Obligations, whether or not then due.

  • Both before and after giving effect to (a) the Revolving Loan, Eligible Trade L/C Obligations and Letter of Credit Obligations, including the Prior Loans outstanding, (b) the disbursement of the proceeds of such Loan pursuant to the instructions of Borrower, (c) the payment and accrual of all transaction costs in connection with the foregoing, each Material Credit Party is Solvent.

Related to Trade LC

  • 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.

  • Facility LC Application is defined in Section 2.19.3.

  • 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.

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Commercial LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding commercial Letters of Credit plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers. The Commercial LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Commercial LC Exposure at such time.

  • Letter of Credit Report means a certificate substantially the form of Exhibit H or any other form approved by the Administrative Agent.

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

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

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

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

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

  • Letter of Credit Liability means, without duplication, at any time and in respect of any Letter of Credit, the sum of (a) the undrawn face amount of such Letter of Credit, plus (b) the aggregate unpaid principal amount of all Reimbursement Obligations of Borrower at such time due and payable in respect of all drawings made under such Letter of Credit.

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Facility LC is defined in Section 2.19.1.

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

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

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

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

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

  • Documentary draft means a draft to be presented for acceptance or payment if specified documents, certificated securities as defined in section 8102 or instructions for uncertificated securities as defined in section 8102, or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft.

  • 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.

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