Claims under a Letter of Credit. (a) Where a claim is made or purported to be made under a Letter of Credit and which appears on its face to be in order (a “Syndicated L/C Claim”):
(i) the Issuing Agent shall promptly and in any event within two (2) Business Days of the date of receipt of a Syndicated L/C Claim notify the relevant Borrower and each Lender of the final date on or before which payment of the demand is to be made and the aggregate amount of the Syndicated L/C Claim;
(ii) each Lender (other than a Lender which has paid an amount equal to its Participation Amount (as defined in each case in the relevant Letter of Credit) to the beneficiary) shall immediately on demand pay (via the Issuing Agent) to the relevant beneficiary an amount equal to its Participation Amount (as defined in each case in the relevant Letter of Credit); provided that such amount shall not exceed the maximum amount payable by that Lender to such beneficiary pursuant to the terms of such Letter of Credit;
(iii) the relevant Borrower irrevocably and unconditionally authorises the Lenders to pay such Syndicated L/C claim; and
(iv) the relevant Borrower shall immediately on demand pay to the Issuing Agent for the Lenders an amount equal to the amount of any Syndicated L/C Claim. For the avoidance of doubt this obligation shall be unaffected by the Final Maturity Date.
(b) Each relevant Borrower acknowledges that the Issuing Agent and each Lender:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(c) The obligations of the Borrowers under this Clause 8.3 will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
Claims under a Letter of Credit. (A) The Borrower irrevocably and unconditionally authorises each LC Issuing Bank to pay any claim made or purported to be made under a Letter of Credit and which appears on its face to be in order (a “claim”).
(B) The Borrower shall immediately on demand pay to the Facility Agent for the account of the relevant LC Issuing Bank an amount equal to the amount of any claim under that Letter of Credit.
(C) The Borrower acknowledges that the LC Issuing Bank:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(D) The obligations of the Borrower under this clause will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
Claims under a Letter of Credit. (a) Each Borrower irrevocably and unconditionally authorises the relevant Issuing Bank to pay any claim made or purported to be made under a Letter of Credit requested by it and which appears on its face to be in order (a "claim").
(b) Each Borrower which requested a Letter of Credit shall immediately on demand pay to the Agent for the relevant Issuing Bank an amount equal to the amount of any claim under that Letter of Credit.
(c) Each Borrower acknowledges that the relevant Issuing Bank:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(d) The obligations of a Borrower under this Clause will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
Claims under a Letter of Credit. (a) The Borrower irrevocably and unconditionally authorises the Issuing Bank to make payment under any Demand (as that term is defined in the relevant Letter of Credit) made or purported to be made under a Letter of Credit and which appears on its face to be in order (a “claim”).
(b) The Borrower shall immediately on demand pay to the Agent for the Issuing Bank an amount equal to the amount of any claim under that Letter of Credit.
(c) The Borrower acknowledges that the Issuing Bank:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(d) The obligations of the Borrower under this Clause will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
Claims under a Letter of Credit. (a) The Company and each Borrower irrevocably and unconditionally authorises the Issuing Bank to pay any claim made or purported to be made under a Letter of Credit requested by it (or requested by the Company on its behalf) and which appears on its face to be in order (a claim).
(b) The Company or the relevant Borrower must immediately on demand pay to the Facility Agent for the Issuing Bank an amount equal to the amount of any claim.
(c) The Company and/or the relevant Borrower acknowledges that the Issuing Bank:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(d) The obligations of the Company and/or the relevant Borrower under this Clause will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
Claims under a Letter of Credit. (A) The Borrower irrevocably and unconditionally authorises the LC Issuing Bank to pay any claim made or purported to be made under a Letter of Credit and which appears on its face to be in order (a “Claim”).
(B) Subject to paragraph (C) below, the Borrower shall within five Business Days on written demand by the Facility Agent pay to the LC Issuing Bank for the account of each Lender an amount equal to the amount of any Claim. The Borrower irrevocably authorises the use by the Facility Agent, the Security Agent and the Account Bank, of amounts standing to the credit of the XX Xxxx Collateral Accounts in making such payment and each of the Facility Agent and the Security Agent shall take all such steps (and procure that the Account Bank takes all such steps) as may reasonably be required (at the cost of the Borrower) for the Borrower to make such payment.
(C) The Borrower acknowledges that the LC Issuing Bank:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a Claim; and
(ii) deals in documents only and will not be concerned with the legality of a Claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(D) The obligations of the Borrower under this clause will not be affected by:
(i) the sufficiency, accuracy or genuineness of any Claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a Claim or other document.
Claims under a Letter of Credit. (a) Each Borrower irrevocably and unconditionally authorizes the Issuing Bank to pay any claim made or purported to be made under a Letter of Credit requested by it (or by the Loan Parties’ Agent on its behalf) and which appears on its face to be in order (in this Section 2.45 and Sections 2.46 through Section 2.49, a “claim”).
(b) Each Borrower shall within three Business Days of demand pay to the Administrative Agent for the Issuing Bank an amount equal to the amount of any claim.
(c) Each Borrower acknowledges that the Issuing Bank:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set–off, counterclaim or other defense of any person.
(d) The obligations of a Borrower under this Section 2.45 through Section 2.49 will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
Claims under a Letter of Credit. (a) The Borrower irrevocably and unconditionally authorises each of the Banks (through the Agent) to pay any claim made or purported to be made under a Letter of Credit requested by the Borrower and which appears on its face to be in order (a “claim”).
(b) The Borrower shall immediately on demand pay to the Agent on behalf of each Bank, an amount equal to:
(i) the amount of any claim under that Letter of Credit (a “Claim Amount”); and
(ii) a fee in the Base Currency Amount computed at the L/C Drawn Rate on any Claim Amount for the Claim Period, to be distributed according to each Bank’s L/C Proportion of that Letter of Credit.
(c) The Borrower acknowledges that:
(i) no Bank or the Agent is obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) the Agent and each Bank deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(d) The obligations of the Borrower under this Clause will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
Claims under a Letter of Credit. The Original Borrower irrevocably and unconditionally authorises each LC Issuing Bank to pay any claim made or purported to be made under a Letter of Credit and which appears on its face to be in order (a "claim").
Claims under a Letter of Credit. (a) The relevant Borrower irrevocably and unconditionally authorises each Lender to pay any claim made or purported to be made under a Letter of Credit and which appears on its face to be in order (a “claim”).
(b) The relevant Borrower shall immediately on demand pay to the Agent for the Lenders an amount equal to the amount of, and in the same currency as, any claim.
(c) Each Borrower acknowledges that each Lender:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(ii) deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.
(d) The obligations of each Borrower under this clause 6.5.3 (Claims under a Letter of Credit) will not be affected by:
(i) the sufficiency, accuracy or genuineness of any claim or any other document; or
(ii) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
(e) Without prejudice to sub-paragraph (a) of this clause 6.5.3 (Claims under a Letter of Credit), the Agent shall use reasonable efforts to notify the relevant Borrower before the Lenders pay any claim.
