Financial Letters of Credit means any Letter of Credit which either the Agent or the Issuing Bank determines is required under applicable law (including regulations and guidelines established by banking regulators) relating to reserve requirements to be classified as a financial letter of credit.
Financial Letters of Credit any Letter of Credit issued to any Person other than an Affiliate of the Borrower to secure the payment by any such Person of its financial obligations, or to provide counter or “back-up” guarantees in support of bank guarantees, letters of credit or other credit facilities afforded to the Borrower or any of its Subsidiaries, or to support local currency borrowings outside the United States.
Financial Letters of Credit means any Letter of Credit issued to any Person other than an Affiliate of the Borrower to secure the payment by any such Person of its financial obligations, or to provide counter or "back-up" guarantees in support of bank guarantees, letters of credit or other credit facilities afforded to the Borrower or any of its Subsidiaries, or to support local currency borrowings outside the United States.
Examples of Financial Letters of Credit in a sentence
ANNEX A PRICING AND FEE SCHEDULE Level I Level II Level III Total Debt to EBITDA Ratio: [Redacted] [Redacted] [Redacted] Bankers’ Acceptances / LIBOR Loans and Financial Letters of Credit [Redacted] [Redacted] [Redacted] Canadian Prime Rate Loans and U.S. Base Rate Loans [Redacted] [Redacted] [Redacted] Standby Fee [Redacted] [Redacted] [Redacted] * The foregoing interest rates and fees shall increase by [Redacted] during the continuance of an Event of Default.
More Definitions of Financial Letters of Credit
Financial Letters of Credit has the meaning defined in Section 2.1.3.
Financial Letters of Credit means Letters of Credit issued to support obligations of Borrower or any of its Restricted Subsidiaries in respect of Indebtedness that is included in Consolidated Indebtedness (but excluding, for the avoidance of doubt, any Letter of Credit in the nature of performance bonds, bid bonds or customs bonds).
Financial Letters of Credit means any letters of credit other than Performance Letters of Credit.
Financial Letters of Credit means, collectively, (i) all standby letters of credit issued for the account of the Borrower or any of its Subsidiaries, other than standby letters of credit supporting obligations incurred in the ordinary course of business of the types referred to in clauses (iii) and (iv) of the definition of Permitted Encumbrances, as well as liability insurance, and (ii) all direct pay letters of credit issued for the account of the Borrower or any of its Subsidiaries supporting financing arrangements, including industrial development revenue bonds; provided, however, that the term Financial Letters of Credit shall exclude all trade letters of credit issued for the account of the Borrower or any of its Subsidiaries.
Financial Letters of Credit has the meaning assigned thereto in Section 3.01(a).
Financial Letters of Credit means standby Letters of Credit issued for the account of Borrower under which the Issuing Lender is irrevocably obligated to pay a third party beneficiary when Borrower fails to repay an outstanding obligation.
Financial Letters of Credit means a letter of credit classified as a financial letter of credit for regulatory reporting purposes by the Issuing Bank, which classification shall be conclusive and binding on the Company and the Banks if reasonably determined.