Common use of Claims under a Letter of Credit Clause in Contracts

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 Company and each 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 and to satisfy the conditions of such Letter of Credit for a claim thereunder (a “claim”). (b) The Company or the relevant Each Borrower must which requested a Letter of Credit shall immediately on demand pay to the Facility Agent for the Issuing Bank an amount equal to the amount of any claimclaim under that Letter of Credit. (c) The Company and/or the relevant 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 defence of any person. (d) The obligations of the Company and/or the relevant 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 Company and each Each Borrower irrevocably and unconditionally authorises the Issuing Bank to pay any claim demand made or purported to be made under a Letter of Credit requested by it (or requested by the Company Parent on its behalf) and which appears on its face to comply with the terms of that Letter of Credit and to be in order (in this Clause 7, a “claim”). (b) The Company or the relevant Each Borrower must shall 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 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 defence of any person. (d) The obligations of the Company and/or the relevant a 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.

Claims under a Letter of Credit. (a) The Company and each Each Borrower irrevocably and unconditionally authorises the each Issuing Bank to pay any claim made or purported to be made under a Letter of Credit requested by it (or requested and issued by the Company on its behalf) that Issuing Bank and which appears on its face to be in order (a claimCLAIM). (b) The Company or Each Borrower that requested the relevant Borrower issue of a Letter of Credit must immediately on demand pay to the Facility Agent for the relevant Issuing Bank an amount equal to the amount of any claim. (c) The Company and/or the relevant Each Borrower acknowledges that the Issuing Bankthat: (i) no Issuing Bank is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and (ii) an Issuing 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 Company and/or the relevant 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.