Common use of Commencement of Action Clause in Contracts

Commencement of Action. Any action or proceeding in respect of any matter arising under or in connection with Credits, the Applications or this Agreement may be brought by Applicant against the Bank within the time period specified in Section 5-115 of the Uniform Commercial Code.

Appears in 2 contracts

Samples: Continuing Agreement for Standby Letters of Credit (Pactiv Corp), Credit Agreement (Readers Digest Association Inc)

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Commencement of Action. Any action or proceeding in respect of any matter arising under or in connection with Credits, the Applications or this Agreement may must be brought by Applicant against the Bank within the time period specified in Section 5-115 of the Uniform Commercial Code.

Appears in 2 contracts

Samples: Credit Agreement (Michael Kors Holdings LTD), Credit Agreement (Belden Inc.)

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