Common use of Payment of LC Collateral Clause in Contracts

Payment of LC Collateral. When Borrower is required to provide LC Collateral for any reason and fails to do so on the day when required, Bank may without notice to Borrower provide such LC Collateral (whether by transfers from other accounts maintained with Bank or otherwise) using any available funds of Borrower.

Payment of LC Collateral. When Borrower is required to provide LC Collateral for any reason and fails to do so on the day when required, Bank LC Issuer may without notice to Borrower provide such LC Collateral (whether by application of proceeds of other Collateral, by transfers from other accounts maintained with Bank LC Issuer, or otherwise) using any available funds of BorrowerBorrower or any other Person also liable to make such payments.

Payment of LC Collateral. When Borrower is required to provide LC Collateral for any reason and fails to do so on the day when required, Bank Lender may without notice to Borrower provide such LC Collateral (whether by transfers from other accounts maintained with Bank Lender or otherwise) using any available funds of Borrower.