Common use of Issuing Bank Clause in Contracts

Issuing Bank. The Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the Issuing Bank shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included the Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Issuing Bank. The Issuing Bank may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

Appears in 12 contracts

Samples: Credit Agreement (Blend Labs, Inc.), Credit Agreement (iCIMS Holding LLC), Assumption Agreement and Amendment No. 2 (iCIMS Holding LLC)

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Issuing Bank. The Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the Issuing Bank shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included the Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Issuing Bank. The Issuing Bank may may, but shall not be obligated to, send a Letter of Credit or conduct any communication to or from the beneficiary via the a Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

Appears in 4 contracts

Samples: Credit Agreement (Dragoneer Growth Opportunities Corp. II), Credit Agreement (Nutrition Topco, LLC), Credit Agreement (Ping Identity Holding Corp.)

Issuing Bank. The Each Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the each Issuing Bank shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX Section 10.2 with respect to any acts taken or omissions suffered by the any Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX X included the each Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Issuing Bank. The Each Issuing Bank may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

Appears in 3 contracts

Samples: Abl Credit Agreement (Cumulus Media Inc), Abl Credit Agreement (Cumulus Media Inc), Abl Credit Agreement (Cumulus Media Inc)

Issuing Bank. The Issuing Bank shall act on behalf of the Revolving Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the Issuing Bank shall have all of the benefits and immunities (A) provided to the Revolving Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and documents pertaining to such Letters of Credit as fully as if the term “Revolving Administrative Agent” as used in Article IX included the Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Issuing Bank. The Issuing Bank may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

Appears in 2 contracts

Samples: Credit Agreement (Loar Holdings Inc.), Credit Agreement (Loar Holdings Inc.)

Issuing Bank. The Each Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the each Issuing Bank shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX Section 10.2 with respect to any acts taken or omissions suffered by the any Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX Section 10 included the each Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Issuing Bank. The Each Issuing Bank may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

Appears in 1 contract

Samples: Abl Credit Agreement (Cumulus Media Inc)

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Issuing Bank. The Each Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the each Issuing Bank shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article ‎Article IX with respect to any acts taken or omissions suffered by the each Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article ‎Article IX included the each Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Issuing BankBanks. The Each Issuing Bank may may, but shall not be obligated to, send a Letter of Credit or conduct any communication to or from the beneficiary via the a Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

Appears in 1 contract

Samples: Credit Agreement (Ping Identity Holding Corp.)

Issuing Bank. The Each Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and the each Issuing Bank shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the each Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included the each Issuing Bank with respect to such acts or omissions, and (B) as additionally provided herein with respect to the Issuing BankBanks. The Each Issuing Bank may may, but shall not be obligated to, send a Letter of Credit or conduct any communication to or from the beneficiary via the a Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a beneficiary.

Appears in 1 contract

Samples: Credit Agreement (Datto Holding Corp.)

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