Letter of Credit Obligations Absolute. The obligation of the Borrower to reimburse the Issuer for drawings made under Letters of Credit issued for the account of the Borrower and the Lenders' obligation to honor their participations purchased therein shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including without limitation, the following circumstances:
Appears in 3 contracts
Samples: Credit Agreement (Intermet Corp), Credit Agreement (Ironton Iron Inc), Intermet Corp
Letter of Credit Obligations Absolute. The obligation of the Borrower Company to reimburse the Issuer for drawings made under Letters of Credit issued for the account of the Borrower Company and the Lenders' obligation to honor their participations purchased therein shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including without limitation, the following circumstances:
Appears in 2 contracts
Samples: Credit Facility Agreement (Ironton Iron Inc), Credit Facility Agreement (Intermet Corp)
Letter of Credit Obligations Absolute. The obligation of the Borrower to reimburse the Issuer Agent for drawings made under Letters of Credit issued for the account of the Borrower and the Lenders' obligation to honor their participations purchased therein shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including without limitation, the following circumstances:
Appears in 1 contract
