Common use of Payment by Issuing Lender Clause in Contracts

Payment by Issuing Lender. The Operating Borrower unconditionally and irrevocably authorizes the Issuing Lender to pay the amount of any draft or demand made on the Issuing Lender under and in accordance with the terms of any Contingent Payment Letter on demand, without requiring proof of the Operating Borrower’s agreement that the amount so demanded was due and notwithstanding that the Operating Borrower may dispute the validity of any such draft, demand or payment, unless otherwise ordered by a court of competent jurisdiction prior to payment.

Payment by Issuing Lender. The Operating Borrower unconditionally and irrevocably authorizes the Issuing Lender to pay the amount of any draft or demand made on the Issuing Lender under and in accordance with the terms of any Contingent Payment Letter on demand, without requiring proof of the Operating Borrower’s agreement that the amount so demanded was due and notwithstanding that the Requesting Operating Borrower may dispute the validity of any such draft, demand or payment, unless otherwise ordered by a court of competent jurisdiction prior to payment.

Payment by Issuing Lender. The Operating Borrower unconditionally and irrevocably authorizes the Issuing Lender to pay the amount of any draft or demand made on the Issuing Lender under and in accordance with the terms of any Contingent Payment Letter on demand, without requiring proof of the Operating Borrower’s 's agreement that the amount so demanded was due and notwithstanding that the Operating Borrower may dispute the validity of any such draft, demand or payment, unless otherwise ordered by a court of competent jurisdiction prior to payment.