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.
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Claims under a Letter of Credit. (a) Each The 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 (in this Clause 7, a "“claim"”).
(b) Each The 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 Creditclaim.
(c) Each The 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 the Borrower under this Clause 7 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.
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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 must immediately on demand pay to the Facility Agent for the relevant account of the Issuing Bank an amount equal to the amount of any claim under that Letter of Creditclaim.
(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 genuiness 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.
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Samples: Supplemental Agreement (Enodis PLC)
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 must immediately on demand pay to the Facility Agent for the relevant account of the Issuing Bank an amount equal to the amount of any claim under that Letter of Creditclaim.
(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 genuiness 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.. --------------------------------------------------------------------------------
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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 Creditclaim.
(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.
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Samples: Second Supplemental Facility Agreement (Paradigm Ltd.)
Claims under a Letter of Credit. (a) Each The 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 The Borrower which requested a Letter of Credit shall immediately on demand must pay to the Facility Agent for the relevant Issuing Bank an amount equal to the amount of any claim under that Letter within one (1) Business Day of Creditsuch Claim.
(c) Each The 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 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.
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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 "claimCLAIM").
(b) Each Borrower which requested a Letter of Credit shall must immediately on demand pay to the Facility Agent for the relevant account of the Issuing Bank an amount equal to the amount of any claim under that Letter of Creditclaim.
(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 genuiness 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.
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Claims under a Letter of Credit. (a) Each The Borrower irrevocably and unconditionally authorises the relevant each 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 The Borrower which requested a Letter of Credit shall immediately on demand pay to the Administrative Agent for the relevant such Issuing Bank an amount equal to the amount of any claim under that Letter of Creditclaim.
(c) Each The Borrower acknowledges that each of the relevant Issuing BankBanks:
(i) is not obliged to carry out any investigation or seek any confirmation from any other person 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 personPerson.
(d) The obligations of a 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 Person signing a claim or other document.
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Samples: Revolving Credit Agreement (Pride International Inc)
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 must immediately on demand pay to the Facility Agent for the relevant Issuing Bank an amount equal to the amount of any claim under that Letter of Creditclaim.
(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 genuiness 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.
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Claims under a Letter of Credit. (a) 8.5.1 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 8.5.2 The relevant Borrower which requested a Letter of Credit shall must 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 Creditclaim.
(c) 8.5.3 Each Borrower acknowledges that the relevant Issuing Bank:
(ia) is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and
(iib) 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) 8.5.4 The obligations of a any Borrower under this Clause will not be affected by:
(ia) the sufficiency, accuracy or genuineness of any claim or any other document; or
(iib) any incapacity of, or limitation on the powers of, any person signing a claim or other document.
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Samples: Facilities Agreement (Royal Ahold)
