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

Letters of Credit Issued for 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 to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 requesting such Letter of Credit shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit requested by such Borrower for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender reimburse each Applicable L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any Subsidiary of its Subsidiaries the Borrower inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such SubsidiariesSubsidiary.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, of a SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or cause to cause the applicable Subsidiary to reimbursebe reimbursed, the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries Subsidiary inures to the benefit of the Borrower Borrower, and that the Borrower’s business businesses derives substantial benefits from the businesses of such Subsidiarieseach Subsidiary.

Letters of Credit Issued for 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 to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryof any Subsidiary of the Parent Borrower, the Borrower Borrowers shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of any of its the Parent Borrower’s Subsidiaries inures to the benefit of the Borrower Borrowers, and that the each Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its the Borrower’s Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 to reimburse, or pay each Unreimbursed Amount and accrued interest thereon with respect to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such each Letter of CreditCredit that is issued and outstanding hereunder. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such its Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its the Borrower’s Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is stated to be for the account of, a SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries such Subsidiary inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender Letter of Credit Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any Subsidiary of its Subsidiaries the Borrower inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such the Borrower’s Subsidiaries.

Letters of Credit Issued for 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 Applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Applicable Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Applicable Borrower, and that the Applicable Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Revolving Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Revolving Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Revolving Borrower, and that the Revolving Borrower’s business derives substantial benefits from the businesses business of such Subsidiaries.

Letters of Credit Issued for 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 that requested the issuance of such Letter of Credit shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any Subsidiaries of its Subsidiaries the Borrower inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of CreditCredit in accordance with the terms hereof. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, or the applicant therefor is, a SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of, or upon the application, of any Subsidiaries of its Subsidiaries the Borrower inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued hereunder by the Issuing Lender. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 which is the Co-Applicant with respect to such Letter of Credit shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary or the Parent Guarantor, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries or the Parent Guarantor inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit at such Borrower’s request for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryone of its Subsidiaries, the Borrower U.S. Borrowers or Canadian Borrower, as applicable, shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any one of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such its Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryof any Subsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its the Borrower’s Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary (including, to the Borrower extent not prohibited by Section 6.04, Unrestricted Subsidiaries) of the Company shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender hereunder for any and all such drawings under such Letter of Credit. The Borrower Company hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Company, and that the BorrowerCompany’s business derives substantial benefits from the businesses business of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the such Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The applicable Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower applicable Borrower, and that the applicable Borrower’s business derives substantial benefits from the businesses of such its Subsidiaries.

Letters of Credit Issued for 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 Company shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of CreditCredit and shall, at the option of the L/C Issuer, be listed as an account party thereto. The Borrower Company hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Company, and that the BorrowerCompany’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, the Borrower or a SubsidiarySubsidiary thereof, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries such Subsidiary inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 applicable Domestic Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of CreditCredit and to make any Cash Collateral deposits required hereunder. The Borrower Company hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Company, and that the BorrowerCompany’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 that requests such Letter of Credit shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Loan Party, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued hereunder by the Issuing Lender. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries Subsidiary of a Loan Party inures to the benefit of the Borrower Borrower, and that the Borrower’s 's business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Company shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of CreditCredit as if such Letter of Credit were issued in support of obligations of, or for the account of, the Company. The Borrower Company hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Company, and that the BorrowerCompany’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Loan Party, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued hereunder by the Issuing Lender. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries Subsidiary of a Loan Party inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder (including any Existing Letter of Credit) is in support of any obligations of, or is for the account of, a Subsidiary, the relevant Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the such Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under any such Letter of CreditCredit issued to its Subsidiary. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such all of its Subsidiaries.

Letters of Credit Issued for 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 or any other Borrower, each Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender Letter of Credit Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries, or any of its Subsidiaries other Borrower inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries, or other Borrower.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the each applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 U.S. Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The U.S. Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower U.S. Borrower, and that the U.S. Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Revolver Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Revolver Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Revolver Borrower, and that the Revolver Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the Borrowers, the Borrower Borrowers shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges that the issuance of Letters of Credit for the account of any of its Borrower’s Subsidiaries inures to the benefit of the Borrower Borrowers, and that the Borrower’s business derives Borrowers’ businesses derive substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 to reimburse, or to cause (i) be a co-applicant for such Letter of Credit and (ii) reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 named as an account party in such Letter of Credit and shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 or any other Borrower, each Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender Letter of Credit Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries, or any of its Subsidiaries other Borrower inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries., or other Borrower. 2.04

Letters of Credit Issued for 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 Borrowers shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Company and the other Borrowers, and that the BorrowerCompany’s and the other Borrowers’ business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary or any other Borrower, the each Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender Letter of Credit Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries or any of its Subsidiaries other Borrower inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such SubsidiariesSubsidiaries or other Borrower.

Letters of Credit Issued for 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 SubsidiarySubsidiary of any Borrower, the Borrower Borrowers shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable reimburse each Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued (or deemed issued) hereunder. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of any of its Subsidiaries Subsidiary inures to the benefit of the Borrower Borrowers, and that the Borrower’s business derives Borrowers’ businesses derive substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its respective Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.. 

Letters of Credit Issued for 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 SubsidiaryRestricted Subsidiary or any other Person, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of or in support of any obligations of its Restricted Subsidiaries or other Persons inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such SubsidiariesSubsidiaries or other Persons.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable reimburse each Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued (or deemed issued) hereunder. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s 's business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryone or more of its Subsidiaries, the applicable Borrower shall be a co-applicant and shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any one or more of its of Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any Subsidiary of its Subsidiaries the Borrower inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its respective Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Restricted Subsidiary (or, during an Investment Grade period, a Subsidiary), the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender Letter of Credit Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such its Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit or Bankers’ Acceptance issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit or Bankers’ Acceptance, as applicable. The Borrower hereby acknowledges that the issuance of Letters of Credit or Bankers’ Acceptances for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiaryRestricted Subsidiary of Parent, the Borrower Representative shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower Representative hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Representative, and that the BorrowerBorrower Representative’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses business of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of any Borrower, the Borrower Representative shall be obligated to reimburse, or cause to cause the applicable Subsidiary to reimbursebe reimbursed, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of any of its Subsidiaries subsidiaries inures to the benefit of each of the Borrower Borrowers, and that the Borrower’s business Borrowers’ businesses derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary or any other Borrower, the each Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries or any of its Subsidiaries other Borrower inures to the benefit of the Borrower such Borrower, and that the such Borrower’s 's business derives substantial benefits from the businesses of such SubsidiariesSubsidiaries or other Borrower.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of ofSECTION 3.8 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 to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.. ARTICLE IV

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries or any Subsidiary of the Parent inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the applicable Borrower, the applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The applicable Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its the applicable Borrower’s Subsidiaries inures to the benefit of the Borrower applicable Borrower, and that the applicable Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.. 50 #98230960v1

Letters of Credit Issued for 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 Revolving Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Revolving Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Revolving Borrower, and that the Revolving Borrower’s 's business derives substantial benefits from the businesses business of such Subsidiaries.

Letters of Credit Issued for 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 Borrower, which is the Co-Applicant with respect to such Letter of Credit, shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s 's business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 which is the Co-Applicant with respect to such Letter of Credit shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s 's business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Borrowers under the Revolving Credit Facility under which such Letter of Credit is issued shall be obligated to reimbursereimburse the Agent, or to cause for the applicable Subsidiary to reimburse, benefit of the applicable Issuing Lender hereunder Bank, for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrowers, and that the Borrower’s Borrowers’ business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit or Bankers’ Acceptance issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of CreditCredit or Bankers’ Acceptance, as applicable. The Borrower hereby acknowledges that the issuance of Letters of Credit or Bankers’ Acceptances for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any the Subsidiaries of its Subsidiaries such Borrower inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.. Sotheby’s Credit Agreement

Letters of Credit Issued for 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 U.S. Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender reimburse each L/C Issuer hereunder for any and all drawings under such Letter of Credit. The U.S. Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower U.S. Borrower, and that the U.S. Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 any Restricted Subsidiary, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable reimburse Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued under the Facility by Issuing Lender. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Restricted Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Restricted Subsidiaries.

Letters of Credit Issued for 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 any Restricted Subsidiary, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable reimburse Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued under the Facility by Issuing Lender. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Restricted Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s 's business derives substantial benefits from the businesses of such Restricted Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be jointly and severally obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable reimburse each Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any Subsidiary of its Subsidiaries the Borrower inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its respective Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s 's business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 any Subsidiary, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable reimburse each Issuing Lender hereunder for any and all drawings under such any Letter of CreditCredit issued under the Facility by such Xxxxxxx Xxxxxx. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Borrowers shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of NAI-1537241654v2 Credit for the account of any of its their respective Subsidiaries inures to the benefit of the Borrower Borrowers, and that the Borrower’s Borrowers’ business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit or Bankers' Acceptance issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of CreditCredit or Bankers' Acceptance, as applicable. The Borrower hereby acknowledges that the issuance of Letters of Credit or Bankers' Acceptances for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s 's business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit deemed issued or outstanding hereunder under Section 3.1(a)(ii) is in support of any obligations of, or is for the account of, a SubsidiarySubsidiary that is not a Subsidiary Borrower, the Borrower Borrowers shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrowers, and that the Borrower’s Borrowers’ business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable reimburse each Issuing Lender hereunder for any and all drawings under such Letter of CreditCredit issued (or deemed issued) hereunder. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Restricted Subsidiary, the Borrower Borrowers shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, reimburse the applicable Issuing Lender Bank hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit requested by such Borrower for the account of any of its Restricted Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Restricted Subsidiaries.. (l)

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its the Borrower’s Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives businesses derive substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 named as an account party in such Letter of Credit and shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, any Subsidiary of a SubsidiaryBorrower, the applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder L/C Issuer for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of either of any Subsidiary of its Subsidiaries any Borrower inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives businesses derive substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any Subsidiaries of its Subsidiaries the Borrower inures to the benefit of the Borrower Borrower, and that the Borrower’s 's business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Restricted Subsidiary, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit at the Borrower’s request for the account of any of its Restricted Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender reimburse Fronting Bank hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 each Borrower requesting such a Letter of Credit shall be obligated to reimburse, or to cause the reimburse each applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Subsidiaryany Subsidiary of the Borrower, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any Subsidiaries of its Subsidiaries the Borrower inures to the benefit of the Borrower Borrower, and that the Borrower’s Borrower ‘ s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit and shall be obligated for all other obligations of such Subsidiary under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Restricted Subsidiary, the Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Restricted Subsidiaries inures to the benefit of the Borrower and Holdings, and that the Borrower’s and Holdings’ business derives substantial benefits from the businesses of such Restricted Subsidiaries.

Letters of Credit Issued for 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 SubsidiarySubsidiary of a Borrower, the applicable Borrower shall be obligated to reimburse, or to cause reimburse the applicable Subsidiary to reimburse, the applicable Issuing Lender L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any the Subsidiaries of its Subsidiaries such Borrower inures to the benefit of the Borrower such Borrower, and that the such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

Letters of Credit Issued for 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 Borrowers shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower Borrowers hereby acknowledges acknowledge that the issuance of Letters of Credit for the account of any of its their respective Subsidiaries inures to the benefit of the Borrower Borrowers and that the Borrower’s Borrowers’ business derives substantial benefits from the businesses of such Subsidiaries.