U.S. Letter of Credit definition

U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

U.S. Letter of Credit means a Letter of Credit issued for the account of the US Borrower.

U.S. Letter of Credit shall have the meaning provided in Section 3.01(a).

Examples of U.S. Letter of Credit in a sentence

• Immediately upon the issuance of each U.S. Letter of Credit, each Lender having a U.S. Revolving Commitment shall be deemed to have purchased, and hereby agrees to irrevocably purchase, from the applicable Issuing Bank a participation in such U.S. Letter of Credit and any drawings honored thereunder in an amount equal to such Lender’s Pro Rata Share (with respect to the U.S. Revolving Commitments) of the maximum amount which is or at any time may become available to be drawn thereunder.

• Upon the issuance of any U.S. Letter of Credit or amendment or modification to a U.S. Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender with a U.S. Revolving Commitment, of such issuance, or amendment or modification and the amount of such Lender’s respective participation in such U.S. Letter of Credit pursuant to Section 2.04(e).

• Each U.S. Letter of Credit shall comply with the related U.S. LOC Documents.

• If any draft shall be presented for payment (a) under any U.S. Letter of Credit, the applicable U.S. Issuing Lender shall promptly notify the U.S. Borrower of the date and amount thereof and (b) under any Canadian Letter of Credit, the applicable Canadian Issuing Lender shall promptly notify the Canadian Borrower and the U.S. Borrower of the date and amount thereof.

• However, only certificated employees are afforded the right, pursuant to Education Code 44981, to not be required to provide advance notice for leave due to a serious illness of the employee's family member.

More Definitions of U.S. Letter of Credit

U.S. Letter of Credit shall have the meaning assigned to such term in Section 2.18(a).

U.S. Letter of Credit means documentary or standby letters of credit issued for the account of the US Borrower by US L/C Issuers, and bankers’ acceptances issued by US Borrower, for which US Agent and Lenders have incurred US Letter of Credit Obligations.

U.S. Letter of Credit means each Letter of Credit issued under the U.S. Revolving Facility.

U.S. Letter of Credit means any letter of credit or similar instrument (including a bank guarantee) acceptable to the applicable Issuing Bank issued in dollars for the purpose of providing credit support to the Company.

U.S. Letter of Credit means any letter of credit issued hereunder (including, in the case of any US Existing Letter of Credit, deemed to be issued hereunder). A US Letter of Credit may be a commercial letter of credit or a standby letter of credit.

U.S. Letter of Credit means a letter of credit issued pursuant to this Agreement in respect of which a U.S. Borrower is the account party.

U.S. Letter of Credit means any standby or commercial letter of credit issued (or, in the case of an Existing Letter of Credit, deemed to be issued) by a U.S. Issuing Bank for the account of a U.S. Operating Borrower, any other U.S. Loan Party or any Subsidiary of the Company (other than Canadian Loan Parties) pursuant to this Agreement. U.S. Letters of Credit may be issued in Dollars or in an Alternative Currency.