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Payments of the principal of and premium on the Bonds at maturity or upon redemption or repurchase will have the benefit of an irrevocable standby letter of credit issued by ING Bank N.
2 million) irrevocable standby letter of credit from JP Morgan.
Here, Taxpayer's promise to pay vacation benefits was secured by an irrevocable standby letter of credit, and payments made or to be made thereunder were not subject to the claims of its general creditors.
13, 1992 (prior to the end of the 2 1/2-month period), the calendar-year taxpayer purchased an irrevocable standby letter of credit to secure its obligation to pay the unpaid vacation benefits accrued during the year ended Dec.
The rating action is in connection with the substitution of the irrevocable standby letter of credit (LOC) supporting subseries A-3 currently provided by BNP Paribas (currently rated 'AA-/F1+', Stable Outlook) with a substitute LOC to be provided by Morgan Stanley Bank N.
CalEnergy") (NYSE, PSE and LSE Symbol: CE) today reported that on May 19th Korea First Bank funded, pursuant to a court order, the amount of $79,329,000 into a New York interest bearing bank account pending resolution of CE Casecnan's summary judgment motion to require Korea First Bank to honor a drawing on an irrevocable standby letter of credit Korea First Bank had issued for the benefit of CE Casecnan.
83 when the employer purchased an irrevocable standby letter of credit to secure the payments.
The long-term 'AA+' rating is based jointly on the irrevocable standby letter of credit (LOC) provided by TD Bank, N.