Indiana § 5-28-30-14 Letters of credit

Indiana Statutes

§ 5-28-30-14 — Letters of credit

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 30 Industrial Development Loan Guaranty Program

Any guarantee made by the corporation
under this chapter may be effected or enhanced, in whole or in part,
through the provision by the corporation of a letter of credit or an
equivalent form of credit enhancement instrument. However, the
maximum principal payment obligations of the corporation under the
credit instrument, as the same may be effective from time to time, is the
amount of the guarantee or portion of the guarantee made under this
chapter, and for purposes of the limitations on the amount of
guarantees under this chapter, and the term of any letter of credit may
not exceed the respective terms established for guarantees or loans
under this chapter.

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Any guarantee made by the corporation
under this chapter may be effected or enhanced, in whole or in part,
through the provision by the corporation of a letter of credit or an
equivalent form of credit enhancement instrument. However, the
maximum principal payment obligations of the corporation under the
credit instrument, as the same may be effective from time to time, is the
amount of the guarantee or portion of the guarantee made under this
chapter, and for purposes of the limitations on the amount of
guarantees under this chapter, and the term of any letter of credit may
not exceed the respective terms established for guarantees or loans
under this chapter.

Indiana § 5-28-30-14 (Letters of credit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.