LC Issuing Banks Clause Samples

The "LC Issuing Banks" clause defines the parties responsible for issuing Letters of Credit (LCs) under a contract. It typically specifies which banks are authorized to issue LCs, outlines any requirements or qualifications these banks must meet, and may detail the process for selecting or approving an issuing bank. For example, the clause might require that only internationally recognized banks with a certain credit rating can issue LCs for the transaction. This clause ensures that all parties have confidence in the financial instruments being used, reducing the risk of non-payment or disputes related to the credibility of the issuing bank.
LC Issuing Banks. The Borrower may, at any time, request any Lender to issue one or more letters of credit hereunder. Any Lender may, but shall not be obligated to, agree to issue such letters of credit. If any Lender so agrees, it shall send notice to the Administrative Agent confirming its agreement, whereupon such Lender shall become an "LC Issuing Bank" for the purposes hereof.
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Related to LC Issuing Banks

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

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

  • 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").

  • LENDERS KeyBank, the other lending institutions which are party hereto and any other Person which becomes an assignee of any rights of a Lender pursuant to §18 (but not including any participant as described in §18). The Issuing Lender shall be a Lender, as applicable. The Swing Loan Lender shall be a Lender.