Agreement to Issue. Subject to the terms and conditions of this Agreement, each Letter of Credit Issuer, as requested by any Borrower, agrees to issue, and to amend or renew Letters of Credit previously issued by it in accordance with this Section 1.3, for the account of any Borrower one or more commercial/documentary and standby letters of credit (each a “Letter of Credit” and collectively, the “Letters of Credit”) and the Agent agrees to provide credit support or other enhancement to a letter of credit issuer acceptable to the Agent, which issues a letter of credit for the account of any Borrower (any such credit support or enhancement being herein referred to as a “Credit Support”) from time to time during the term of this Agreement. All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof.
Appears in 4 contracts
Samples: Credit Agreement (Westlake Chemical Corp), Credit Agreement (Westlake Chemical Corp), Credit Agreement (Westlake Chemical Corp)
