Common use of Letters of Credit and Guarantees Clause in Contracts

Letters of Credit and Guarantees. Subject to the terms of this Agreement, if the Agent agrees with a Borrower (acting on the instructions of the Issuer), the Issuer shall, at that Borrower's request (contained in a Utilisation Notice) issue one or more documentary letters of credit (each a "LETTER OF CREDIT") or Guarantees (each a "GUARANTEE"), in each case denominated in sterling or any Foreign Currency as the Issuer may agree, for that Borrower's account. The Issuer will not issue any Letter of Credit or Guarantee:

Letters of Credit and Guarantees. 6.4 Subject to the terms of this Agreement, if the Agent agrees with a Borrower (acting on the instructions of the Issuer), the Issuer shall, at that Borrower's ’s request (contained in a Utilisation Notice) issue one or more documentary letters of credit (each a "LETTER OF CREDIT"“Letter of Credit”) or Guarantees (each a "GUARANTEE"“Guarantee”), in each case denominated in sterling or any Foreign Currency as the Issuer may agree, for that Borrower's ’s account. The Issuer will not issue any Letter of Credit or Guarantee: