Common use of Letters of Credit Issued for Account of Subsidiaries Clause in Contracts

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated as a primary obligor as set forth herein for any and all drawings under such Letter of Credit, and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Borrower, and that Xxxxxxxx’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of Borrower, Xxxxxxxx agrees that (i) such Subsidiary shall have no rights against Lender, and Borrower shall hold Lender harmless with respect to any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions related thereto. Borrower shall, at the request of Lender, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated as a primary obligor as set forth herein for any and all drawings under such Letter of Credit, and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Borrower, and that Xxxxxxxx’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of Borrower, Xxxxxxxx agrees that (i) such Subsidiary shall have no rights against LenderL/C Issuer, Agent, or any Lender and Borrower shall hold L/C Issuer, Agent and any such Lender harmless with respect to any claim or other attempted exercise of rights by such Subsidiary against Lenderany of them, (ii) Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions related thereto. Borrower shall, at the request of LenderL/C Issuer, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated as or states that a primary obligor as set forth herein Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for any and all drawings under such Letter of Credit, and without derogating from any rights of Issuing Lender (whether arising by contract, at law, in equity or otherwise) against such Subsidiary in respect of such Letter of Credit, Borrowers shall compensate, indemnify and reimburse Issuing Lender hereunder for such Letter of Credit as if such Letter of Credit had been issued solely for the account of a Borrower. Additionally, each Borrower irrevocably waives (to the extent permitted by applicable Law) any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such SubsidiarySubsidiary in respect of such Letter of Credit. Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of BorrowerBorrowers, and that Xxxxxxxx’s Borrowers’ business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of a Borrower, Xxxxxxxx agrees Borrowers agree that (i) such Subsidiary shall have no rights against Issuing Lender, and Borrower shall hold Lender harmless with respect to Administrative Agent or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) Borrower Borrowers shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) Borrower Borrowers shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower Borrowers shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. Borrower Borrowers shall, at the request of Issuing Lender, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of supports any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated as or states that a primary obligor as set forth herein Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for any and all drawings under such Letter of Credit, and without derogating from any rights of the applicable Issuing Bank (whether arising by contract, at law, in equity or otherwise) against such Subsidiary in respect of such Letter of Credit, the Borrower (i) shall reimburse, indemnify and compensate the applicable Issuing Bank hereunder for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued solely for the account of the Borrower and (ii) irrevocably waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such SubsidiarySubsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of such Letters of Credit for the account of its Subsidiaries inures to the benefit of the Borrower, and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To Notwithstanding anything to the extent that contrary herein, in the event any Letter of Credit issued or outstanding hereunder supports any obligations of, or is issued for the account of, a Subsidiary, or states that a Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of any Subsidiary of Borrower, Xxxxxxxx agrees that (i) or for such Subsidiary shall have no rights against Lender, and Borrower shall hold Lender harmless with respect to any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions related thereto. Borrower shall, at the request of Lender, agrees to provide or cause such Subsidiary to execute provide the applicable Issuing Bank all information as shall be necessary for such Issuing Bank to comply with “know your customer” and deliver an agreement confirming anti-money laundering rules and regulations, including without limitation, the terms specified in Patriot Act and the immediately preceding sentence and acknowledging that it is bound therebyBeneficial Ownership Regulation.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of supports any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated as or states that a primary obligor as set forth herein Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for any and all drawings under such Letter of Credit, and without derogating from any rights of the Issuing Bank (whether arising by contract, at law, in equity or otherwise) against such Subsidiary in respect of such Letter of Credit, the Borrower (i) shall reimburse, indemnify and compensate the Issuing Bank hereunder for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued solely for the account of the Borrower and (ii) irrevocably waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such SubsidiarySubsidiary in respect of such Letter of Credit. In addition, the Borrower shall be responsible for delivery of any LC Application with respect to any Letter of Credit issued for the account of a Subsidiary and other obligations under this Agreement, and all communications (including notices) related to any such Letter of Credit shall be among the applicable Issuing Bank and the Borrower. The Borrower hereby acknowledges that the issuance of such Letters of Credit for the account of its Subsidiaries inures to the benefit of the Borrower, and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To Notwithstanding anything to the extent that contrary herein, an Issuing Bank shall not be under any obligation to issue any Letter of Credit is issued for the account of any a Subsidiary of Borrower, Xxxxxxxx agrees that (i) unless such Subsidiary shall have no rights against Lender, Issuing Bank has received all documentation and Borrower shall hold Lender harmless other information with respect to any claim or other attempted exercise of rights by such Subsidiary against Lenderrequired by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, (ii) Borrower shall be responsible for including without limitation the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreementUSA PATRIOT Act and, (iii) Borrower shall have if applicable, the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions related thereto. Borrower shall, at the request of Lender, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound therebyBeneficial Ownership Regulation.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated as a primary obligor as set forth herein to reimburse the applicable Issuing Bank for any and all drawings under such Letter of Credit, Credit and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Borrower, the Borrower and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of Borrowerthat is not a Guarantor, Xxxxxxxx the Borrower agrees that (i) such Subsidiary shall have has no rights against Lenderthe Issuing Bank, and Borrower shall hold Lender harmless with respect to the Administrative Agent, or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) the Borrower shall be is responsible for the obligations in respect of such Letter of Credit under this Agreement the Loan Documents and any relevant application or reimbursement agreement, (iii) the Borrower shall have the has sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, Credit and the disposition of documents related thereto, and (iv) the Borrower shall have has all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. The Borrower shall, at the request of Lenderthe relevant Issuing Bank, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it such Subsidiary is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated as a primary obligor as set forth herein to reimburse the applicable Issuing Bank for any and all drawings under such Letter of Credit, Credit and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Borrower, the Borrower and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of BorrowerSubsidiary, Xxxxxxxx the Borrower agrees that (i) such Subsidiary shall have has no rights against Lenderthe Issuing Bank, and Borrower shall hold Lender harmless with respect to the Administrative Agent, or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) the Borrower shall be (and, pursuant to the Material Subsidiary Guaranty, each Guarantor) is responsible for the obligations in respect of such Letter of Credit under this Agreement the Loan Documents and any relevant application or reimbursement agreement, (iii) the Borrower shall have the has sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, Credit and the disposition of documents related thereto, and (iv) the Borrower shall have has all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. The Borrower shall, at the request of Lenderthe relevant Issuing Bank, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it such Subsidiary is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Parent Borrower shall be obligated as a primary obligor as set forth herein to reimburse the applicable Issuing Bank hereunder for any and all drawings under such Letter of Credit, Credit and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. The Parent Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Parent Borrower, and that Xxxxxxxxthe Parent Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of Borrowerthe Parent Borrower which is not a Loan Party, Xxxxxxxx the Parent Borrower agrees that (i) such Subsidiary shall have no rights against Lenderthe Issuing Bank, and Borrower shall hold Lender harmless with respect to the Administrative Agent or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) the Parent Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) the Parent Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) the Parent Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. The Parent Borrower shall, at the request of Lenderthe Issuing Bank, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated as a primary obligor as set forth herein to reimburse the Issuing Bank hereunder for any and all drawings under such Letter of Credit, Credit and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of the Borrower, Xxxxxxxx the Borrower agrees that (i) such Subsidiary shall have no rights against Lenderthe Issuing Bank, and Borrower shall hold Lender harmless with respect to the Administrative Agent or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) the Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) the Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) the Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. The Borrower shall, at the request of Lenderthe Issuing Bank, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of supports any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated as or states that a primary obligor as set forth herein Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for any and all drawings under such Letter of Credit, and without derogating from any rights of the applicable Issuing Bank (whether arising by contract, at law, in equity or otherwise) against such Subsidiary in respect of such Letter of Credit, the Borrower (i) shall reimburse, indemnify and compensate the applicable Issuing Bank hereunder for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued solely for the account of the Borrower and (ii) irrevocably waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such SubsidiarySubsidiary in respect of such Letter of Credit. The Borrower hereby acknowledges that the issuance of such Letters of Credit for the account of its Subsidiaries inures to the benefit of the Borrower, and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit .” (o) Section 2.07(b) is issued for the account of any Subsidiary of Borrowerhereby amended to delete reference to “Federal Funds Effective Rate” and replacing it with “NYFRB Rate”. (p) Section 2.09 (a) is hereby amended and restated in its entirety to read as follows: (a) Unless previously terminated, Xxxxxxxx agrees that (i) such Subsidiary all Term Commitments shall have no rights against Lenderterminate at 5:00 p.m., Chicago time, on the Fourth Amendment Effective Date and Borrower shall hold Lender harmless with respect to any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) Borrower all the Revolving Commitments shall be responsible for terminate on the obligations Revolving Credit Maturity Date.” (q) Section 2.09(e)(i) is hereby amended by replacing reference to “$25,000,000” with reference to “$10,000,000”. (r) Section 2.09(e)(ii) is hereby amended and restated in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) Borrower shall have the sole right its entirety to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions related thereto. Borrower shall, at the request of Lender, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.read as follows:

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, Borrower each of the Borrowers shall be jointly and severally obligated as a primary obligor as set forth herein to reimburse the applicable Issuing Bank hereunder for any and all drawings under such Letter of Credit, Credit and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Borrowerthe Borrowers, and that Xxxxxxxx’s the Borrowers’ business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of a Borrower (and such Subsidiary is not also a Borrower), Xxxxxxxx each Borrower agrees that (i) such Subsidiary shall have no rights against Lenderthe Issuing Bank, and Borrower shall hold Lender harmless with respect to the Administrative Agent or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) Borrower the Borrowers shall be jointly and severally responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) Borrower the Borrowers shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower the Borrowers shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. Borrower The Borrowers shall, at the request of Lenderthe Issuing Bank, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, Borrower shall be obligated as a primary obligor as set forth herein for any and all drawings under such Letter of Credit, and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of Borrower, and that Xxxxxxxx’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of Borrower, Xxxxxxxx agrees that (i) such Subsidiary shall have no rights against LenderL/C Issuer, Administrative Agent, or any Lender and Borrower shall hold L/C Issuer, Administrative Agent and any such Lender harmless with respect to any claim or other attempted exercise of rights by such Subsidiary against Lenderany of them, (ii) Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions related thereto. Borrower shall, at the request of LenderL/C Issuer, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated as a primary obligor as set forth herein to reimburse the applicable Issuing Bank hereunder for any and all drawings under such Letter of Credit, Credit and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such Subsidiary. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. To the extent that any Letter of Credit is issued for the account of any Subsidiary of Borrowerthe Borrower which is not a Guarantor, Xxxxxxxx the Borrower agrees that (i) such Subsidiary shall have no rights against Lenderthe Issuing Bank, and Borrower shall hold Lender harmless with respect to the Administrative Agent or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) the Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) the Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) the Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. The Borrower shall, at the request of Lenderthe Issuing Bank, cause such Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.

Letters of Credit Issued for Account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, another Loan Party or a Subsidiary, the Borrower shall be obligated as a primary obligor as set forth herein to reimburse the Issuing Bank hereunder for any and all drawings under such Letter of Credit, Credit and irrevocably waives any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such other Loan Party or Subsidiary. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries any other Loan Party or any Subsidiary inures to the benefit of the Borrower, and that Xxxxxxxxthe Borrower’s business derives substantial benefits from the businesses business of such SubsidiariesLoan Party or Subsidiary. To the extent that any Letter of Credit is issued for the account of another Loan Party or any Subsidiary of Borrowerthe Borrower which is not a Subsidiary Guarantor, Xxxxxxxx the Borrower agrees that (i) such other Loan Party or Subsidiary shall have no rights against Lenderthe Issuing Bank, and Borrower shall hold Lender harmless with respect to the Administrative Agent or any claim or other attempted exercise of rights by such Subsidiary against Lender, (ii) the Borrower shall be responsible for the obligations in respect of such Letter of Credit under this Agreement and any application or reimbursement agreement, (iii) the Borrower shall have the sole right to give instructions and make agreements with respect to this Agreement and the Letter of Credit, and the disposition of documents related thereto, and (iv) the Borrower shall have all powers and rights in respect of any security arising in connection with the Letter of Credit and the transactions transaction related thereto. The Borrower shall, at the request of Lenderthe Issuing Bank, cause such other Loan Party or Subsidiary to execute and deliver an agreement confirming the terms specified in the immediately preceding sentence and acknowledging that it is bound thereby.