Common use of Documents and Payment Demands Clause in Contracts

Documents and Payment Demands. The Borrower and each Lender hereby authorize the Administrative Agent to review on behalf of each Lender each document presented under each POA Letter of Credit. The determination of the Administrative Agent as to the conformity of any documents presented under a POA Letter of Credit to the requirements of such POA Letter of Credit shall be conclusive and binding on the Borrower and each Lender; provided that the Administrative Agent acts in accordance with the standards of reasonable care specified in the Uniform Customs. The Administrative Agent shall, within a reasonable time following its receipt thereof, examine all documents purporting to represent a demand for payment under any POA Letter of Credit. The Administrative Agent shall promptly after such examination: (a) notify each of the Lenders obligated under such POA Letter of Credit and the Borrower by telephone (confirmed in writing) of such demand for payment and of each Lender’s share of such payment; (b) deliver to each Lender and the Borrower a copy of each document purporting to represent a demand for payment under such POA Letter of Credit; and (c) notify each Lender and the Borrower whether the demand for payment was properly made under such POA Letter of Credit.

Documents and Payment Demands. The Borrower WFT and each Lender hereby authorize the Administrative Agent to review on behalf of each Lender each document presented under each POA Letter of Credit. The determination of the Administrative Agent as to the conformity of any documents presented under a POA Letter of Credit to the requirements of such POA Letter of Credit shall be conclusive and binding on the Borrower WFT and each Lender; , provided that the Administrative Agent acts in accordance with the standards of reasonable care specified in the Uniform Customs. The Administrative Agent shall, within a reasonable time following its receipt thereof, examine all documents purporting to represent a demand for payment under any POA Letter of Credit. The Administrative Agent shall promptly after such examination: (ai) notify each of the Lenders obligated under such POA Letter of Credit and the Borrower WFT by telephone (confirmed in writing) of such demand for payment and of each Lender’s share of such payment; (bii) deliver to each Lender and the Borrower WFT a copy of each document purporting to represent a demand for payment under such POA Letter of Credit; and (ciii) notify each Lender and the Borrower WFT whether the demand for payment was properly made under such POA Letter of Credit.

Documents and Payment Demands. The Borrower WFT, Norbord and each Lender hereby authorize the Administrative Agent to review on behalf of each Lender each document presented under each POA Letter of Credit. The determination of the Administrative Agent as to the conformity of any documents presented under a POA Letter of Credit to the requirements of such POA Letter of Credit shall be conclusive and binding on WFT or Norbord, as the Borrower case may be, and each Lender; , provided that the Administrative Agent acts in accordance with the standards of reasonable care specified in the Uniform Customs. The Administrative Agent shall, within a reasonable time following its receipt thereof, examine all documents purporting to represent a demand for payment under any POA Letter of Credit. The Administrative Agent shall promptly after such examination: (ai) notify each of the Lenders obligated under such POA Letter of Credit and the Borrower WFT or Norbord, as applicable, by telephone (confirmed in writing) of such demand for payment and of each Lender’s share of such payment; (bii) deliver to each Lender and the Borrower WFT or Norbord, as applicable, a copy of each document purporting to represent a demand for payment under such POA Letter of Credit; and (ciii) notify each Lender and the Borrower WFT or Norbord, as applicable, whether the demand for payment was properly made under such POA Letter of Credit.

Documents and Payment Demands. The Borrower and each Lender hereby authorize the Administrative Agent to review on behalf of each Lender each document presented under each POA Letter of Credit. The determination of the Administrative Agent as to the conformity of any documents presented under a POA Letter of Credit to the requirements of such POA Letter of Credit shall be conclusive and binding on the Borrower and each Lender; provided that the Administrative Agent acts in accordance with the standards of reasonable care specified in the Uniform Customs. The Administrative Agent shall, within a reasonable time following its receipt thereof, examine all documents purporting to represent a demand for payment under any POA Letter of Credit. The Administrative Agent shall promptly after such examination: (a) notify each of the Lenders obligated under such POA Letter of Credit and the Borrower by telephone (confirmed in writing) of such demand for payment and of each Lender’s 's share of such payment; (b) deliver to each Lender and the Borrower a copy of each document purporting to represent a demand for payment under such POA Letter of Credit; and (c) notify each Lender and the Borrower whether the demand for payment was properly made under such POA Letter of Credit.