LC Proceeds Account definition

LC Proceeds Account means a non-interest bearing U.S. dollar account established in the name of the Trustee with the LC Proceeds Account Bank;
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LC Proceeds Account means a non-interest-bearing U.S. dollar account established in the name of the Trustee with the LC Proceeds Account Bank and designated for the purposes specified above;
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LC Proceeds Account means a non-interest-bearing Renminbi account that will be established in the name of the Trustee with the LC Proceeds Account Bank;
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Examples of LC Proceeds Account in a sentence

  • Payment received by the Trustee in respect of the Demand will be deposited into the LC Proceeds Account.

  • Payments received by the Trustee in respect of a Demand will be deposited into the LC Proceeds Account.

  • None of the Issuer, the Guarantor, the Group, the LC Bank, the Placing Agents, the Trustee, the Pre-funding Account Bank, the LC Proceeds Account Bank or the Agents, or any person who controls any of them, or any of their respective directors, officers, employees, agents, representatives, advisers or affiliates are making any representations regarding the legality of an investment in the Bonds under any law or regulation.

  • Payment received by the Trustee in respect of a Demand will be deposited into the LC Proceeds Account.

  • After receipt by the LC Bank of such Demand on a Business Day, the LC Bank shall by 11:00 a.m. (Hong Kong time) on the fourth Business Day after such Business Day (or, if such Demand is received after 11:00 a.m. (Hong Kong time) on a Business Day, by 11:00 a.m. (Hong Kong time) on the fifth Business Day after such Business Day), pay to, or to the order of, the Trustee the amount in U.S. dollars specified in the Demand to the LC Proceeds Account.

  • On the Business Day immediately following the date payment is due to be made by the LC Bank By 11:00 a.m. (Hong Kong time) • The LC Proceeds Account Bank to notify the Trustee of any amount received from the LC Bank in the LC Proceeds Account.

  • By 10:00 a.m. (Hong Kong time) • The LC Bank to pay to or to the order of the Trustee the amount of the Demand to the LC Proceeds Account following receipt by the Demands if the Demand is received after 6:00 p.m. (Hong Kong time) on the date of the Demand.

  • By 3:00 p.m. (Hong Kong time) • The Trustee is to instruct the LC Proceeds Account Bank to confirm to the Principal Paying Agent that the proceeds of the Demand will be paid to the Principal Paying Agent by 10:00 a.m. (Hong Kong time) on the Business Day preceding the due date for the payment.

  • Following receipt by the relevant LC Bank of such Demand by 6:00 p.m. (Hong Kong time) on a Business Day, the LC Bank shall by 11:00 a.m. (Hong Kong time) on the fourth Business Day immediately following such Business Day (or, if such demand is received after 6:00 p.m. (Hong Kong time) on a Business Day, the fifth Business Day immediately following such Business Day), pay to or to the order of the Trustee the amount in Japanese yen specified in the Demand to the relevant LC Proceeds Account.

  • OR • The LC Proceeds Account Bank is to pay the amount of the Demand to the Principal Paying AgentBy 10:00 a.m. (Hong Kong time) 🞄 If the Demand is received by the LC Bank before 6:00 p.m. (Hong Kong time) on the date of the Demand, the LC Bank is to pay the amount of the Demand into the LC Proceeds Account.


More Definitions of LC Proceeds Account

LC Proceeds Account means a non-interest bearing Renminbi account established in the name of the Trustee with the LC Proceeds Account Bank and such other accounts or sub-accounts as designated by the LC Proceeds Account Bank from time to time for such purpose;
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Related to LC Proceeds Account

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Letter of Credit Collateral Account has the meaning assigned to such term in Section 2.05(k).

  • Cash Collateral Account means a blocked, non-interest bearing deposit account of one or more of the Loan Parties at Bank of America in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.