LC Disbursement definition

LC Disbursement means a payment made by an Issuing Bank pursuant to a Letter of Credit.
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LC Disbursement means a payment made by the Issuing Bank pursuant to a Letter of Credit.
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LC Disbursement means any payment made by an Issuing Bank pursuant to a Letter of Credit.
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Examples of LC Disbursement in a sentence

  • At the time that each ABR Revolving Borrowing or Daily Simple SOFR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Total Commitment or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(f).

  • If any Borrower fails to make payment when due in respect of any LC Disbursement relating to a Letter of Credit issued for its account, the applicable Issuing Lender shall promptly notify the Administrative Agent, whereupon the Administrative Agent shall promptly notify each Lender of the applicable LC Disbursement, the payment then due from such Borrower and such Lender’s Applicable Percentage thereof.

  • Any payment made by a Lender pursuant to this clause (e) to reimburse an Issuing Lender for any LC Disbursement shall not constitute a Loan and shall not relieve the relevant Borrower of its obligation to reimburse such LC Disbursement.

  • Each applicable Swingline Lender shall make each Swingline Loan available to the relevant Borrower by means of a credit to a deposit account of such Borrower maintained with such Swingline Lender and designated by the Company in the applicable Borrowing Request (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(f), by remittance to the relevant Issuing Lender).


More Definitions of LC Disbursement

LC Disbursement a payment made by the Issuing Lender pursuant to a Letter of Credit.
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LC Disbursement means a payment made by the Lender pursuant to a Letter of Credit.
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LC Disbursement means a payment made by the Issuing Bank pursuant to a Letter of Credit. All LC Disbursements shall be denominated in (x) with respect to Letters of Credit issued in Dollars, Dollars and (y) with respect to Letters of Credit issued in an Alternative Currency, the applicable Alternative Currency.
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LC Disbursement means a payment made by an Issuing Bank pursuant to a Letter of Credit, including in respect of a time draft presented thereunder; provided that, with respect to any component of any such amount in an LC Alternative Currency under a U.S. Letter of Credit, such amount shall be the Dollar Amount thereof. The date of an LC Disbursement shall be the date of payment by the applicable Issuing Bank under a Letter of Credit or a time draft presented thereunder, as the case may be.
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LC Disbursement means a Revolving LC Disbursement or an LC Facility LC Disbursement.
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LC Disbursement means a payment made by the Issuer pursuant to a Letter of Credit.
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LC Disbursement means a payment made by an LC Issuing Bank in respect of a drawing under a Letter of Credit.
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