Application of Funds at Lloyd’s. The Borrower shall use all reasonable endeavours to ensure that the Subordinated Funds at Lloyd’s of the Account Party (if any) are applied to the fullest extent possible before any payment is requested under a Letter of Credit.
Appears in 4 contracts
Samples: Restated Agreement (HCC Insurance Holdings Inc/De/), Restated Agreement (HCC Insurance Holdings Inc/De/), Restated Agreement (HCC Insurance Holdings Inc/De/)
Application of Funds at Lloyd’s. The Borrower shall use all reasonable endeavours to ensure that the Subordinated Funds at Lloyd’s of the Account Party (if any) are applied to the fullest extent possible before any payment is requested under a Letter of CreditCredit (including, without limitation, obtaining a letter of comfort and a reimbursement agreement with respect to the order of application of Funds at Lloyd’s, each in a form and substance satisfactory to the Lenders).
Appears in 1 contract
Samples: HCC Insurance Holdings Inc/De/
