Payment of Amounts Drawn Under Letters of Credit. The Borrower acknowledges that the Lender, as co-applicant, will be liable to the Issuer of any Letter of Credit for reimbursement of any and all draws thereunder and all other amounts required to be paid under the applicable L/C Application. Accordingly, the Borrower agrees to pay to the Lender any and all amounts required to be paid under the applicable L/C Application, when and as required to be paid thereby, and the amounts designated below, when and as designated:
Appears in 9 contracts
Samples: Credit and Security Agreement (Continental Information Systems Corp), Credit and Security Agreement (Rsi Systems Inc/Mn), Credit and Security Agreement (Heska Corp)
Payment of Amounts Drawn Under Letters of Credit. The Borrower acknowledges Borrowers acknowledge that the Lender, as co-applicant, will be liable to the Issuer of any Letter of Credit for reimbursement of any and all draws thereunder and all other amounts required to be paid under the applicable L/C Application. Accordingly, the Borrower agrees Borrowers agree to pay to the Lender any and all amounts required to be paid under the applicable L/C Application, when and as required to be paid thereby, and the amounts designated below, when and as designated:
Appears in 1 contract
Samples: Patent, Trademark and License Collateral Assignment and Security Agreement (Synergetics Usa Inc)
