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

Letters of Credit Issued for Restricted 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 Loan Party (or on behalf of a Restricted Subsidiary), the Borrowers shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit. Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of the Loan Parties (or on behalf of Restricted Subsidiaries) inures to the benefit of such Borrower, and that such Borrower’s business derives substantial benefits from the businesses of such Restricted Subsidiaries.

Letters of Credit Issued for Restricted 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 Loan Party (or on behalf of a Restricted Subsidiary), the Borrowers Company or any other Borrower, each Borrower shall be obligated to reimburse the L/C Letter of Credit Issuer hereunder for any and all drawings under such Letter of Credit. Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of the Loan Parties (or on behalf of Restricted Subsidiaries) , the Company or any other Borrower inures to the benefit of such Borrower, and that such Borrower’s business derives substantial benefits from the businesses of such Restricted Subsidiaries, the Company or other Borrower.

Letters of Credit Issued for Restricted Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder for the account of the Borrower is in support of any obligations of, or is for the account ofotherwise will benefit, a Loan Party (or on behalf any other Restricted Subsidiary of a Restricted Subsidiary)Holdings, the Borrowers Borrower shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit. Each The Borrower hereby acknowledges that the issuance of Letters of Credit for the account benefit of the Loan Parties (or on behalf any Restricted Subsidiary of Restricted Subsidiaries) Holdings inures to the benefit of such the Borrower, and that such the Borrower’s business derives 's businesses derive substantial benefits from the businesses of such Restricted Subsidiaries.