Letter of Credit Issued for Subsidiaries. The Company unconditionally and irrevocably agrees that, in connection with any Letter of Credit requested by it for the account of any Subsidiary under Section 2.06(a), the Company will be fully responsible for the reimbursement of LC Disbursements, the payment of interest thereon and the payment of LC Participation Fees and other fees due under Section 2.07(c) to the same extent as if it were the sole account party in respect of such Letter of Credit requested by it (the Company hereby irrevocably waiving any defense that might otherwise be available to it as a guarantor of the obligations of any Subsidiary that shall be a joint account party in respect of any such Letter of Credit). The Company acknowledges that the issuance of such Letters of Credit inures to the benefit of the Company, and that the business of the Company derives substantial benefits from the business of each such Subsidiary.
Appears in 8 contracts
Samples: Credit Agreement (Hartford Financial Services Group, Inc.), Credit Agreement (Hartford Financial Services Group, Inc.), Credit Agreement (Hartford Financial Services Group, Inc.)
