Creole LOC. (i) Creole will, within fifteen (15) days after the Effective Date, provide to the Company, as beneficiary thereof, an irrevocable letter of credit (the “Creole LOC”) in an amount of $ $1,000,176, issued in a form and by a bank or other financial institution, in each case acceptable to the Company; and/or such other forms of collateral as the Company may permit in writing from time to time. The Creole LOC shall secure the Go-Forward Creole Obligations.
Appears in 4 contracts
Samples: Reinsurance Novation and Assumption Agreement, Reinsurance Novation and Assumption Agreement (Babcock & Wilcox Enterprises, Inc.), Reinsurance Novation and Assumption Agreement (Babcock & Wilcox Enterprises, Inc.)
