Examples of Existing Letter of Credit in a sentence
Unless otherwise expressly agreed by the L/C Issuer and the Borrower when a Letter of Credit is issued by it (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each Letter of Credit.
In addition to the foregoing, the Company hereby acknowledges that it shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under the Existing Letter of Credit for the account of UNIK S.A. and that such Letter of Credit, when issued, was for the account of a Subsidiary.
In the case of any assignment of any Loans, Participation Advances or Letter of Credit Obligations prior to such first Payment Date or earlier date of payment, if not otherwise specified in the Assignment Agreement applicable thereto, any unpaid Existing Commitment Fees, Existing Letter of Credit Fees or Existing Interest shall be payable to the assignee.
Unless otherwise expressly agreed by the applicable Issuing Lender and the applicable Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit.
Each Existing Letter of Credit shall be deemed to be a letter of credit issued under this Agreement and entitled to the benefits of a Letter of Credit issued hereunder.