LC Issuing Bank Clause Samples

The 'LC Issuing Bank' clause defines the bank responsible for issuing a letter of credit (LC) on behalf of the buyer in a commercial transaction. This clause typically identifies the issuing bank by name and outlines its obligations, such as confirming payment to the seller upon presentation of compliant documents. By clearly designating the LC issuing bank, the clause ensures all parties know which institution guarantees payment, thereby reducing payment risk and facilitating trust in international trade.
LC Issuing Bank. For purposes of this Section 2.15, the term “Lender” includes each LC Issuing Bank.
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LC Issuing Bank. The provisions of this Article (other than Section 7.3) shall apply to the LC Issuing Bank mutatis mutandis to the same extent as such provisions apply to the Agent.
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LC Issuing Bank. Bank of America, N.A., by its signature below to this Amendment, agrees that it will be an LC Issuing Bank under the Amended Credit Agreement with a Fronting Commitment in the amount set forth on Schedule III to the Amended Credit Agreement, subject to the terms and conditions set forth in the Amended Credit Agreement.
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LC Issuing Bank. Date of issuance of Letter of Credit: ________________, ________ ------------------------------------
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LC Issuing Bank. The LC Issuing Bank shall be a commercial bank or trust company organized under the laws of the United States having total assets of at least *** US Dollars ($***) and having: (a) Credit Ratings of at least “***” by S&P and “***” by ▇▇▇▇▇’▇; or (b) If such entity is rated by either ▇▇▇▇▇’▇ or S&P, but not both, Credit Ratings of at least “***” by S&P or “***” by ▇▇▇▇▇’▇.
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Related to LC Issuing Bank

  • Issuing Bank For purposes of Section 2.17(e) and (f), the term “Lender” includes the Issuing Bank.

  • Issuing Banks For purposes of this Section, the term “Lender” includes each Issuing Bank and the term “Applicable Law” includes FATCA.

  • Issuing Lender For purposes of this Section 5.9, the term “Lender” includes the Issuing Lender and the term “applicable Law” includes FATCA.

  • Issuing Lender Fees In addition to the Letter of Credit Fees payable pursuant to subsection (b) hereof, the Borrower shall pay to the Issuing Lender for its own account without sharing by the other Lenders the reasonable and customary charges from time to time of the Issuing Lender with respect to the amendment, transfer, administration, cancellation and conversion of, and drawings under, such Letters of Credit (collectively, the "Issuing Lender Fees").

  • Administrative Agent as Lender The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder.