Common use of Payment of Letter of Credit Obligations Clause in Contracts

Payment of Letter of Credit Obligations. Each Borrower agrees to reimburse the issuer for any draw under any Letter of Credit issued for such Borrower's account and the Agent for the account of the Lenders upon any payment pursuant to any Credit Support issued for such Borrower's account immediately upon demand, and to pay the issuer of the Letter of Credit the amount of all other obligations and other amounts payable to such issuer under or in connection with any Letter of Credit issued for such Borrower's account immediately when due, irrespective of any claim, setoff, defense or other right which such Borrower may have at any time against such issuer or any other Person.

Payment of Letter of Credit Obligations. Each Borrower agrees to reimburse the issuer for any draw under any Letter of Credit issued for such Borrower's account and the Administrative Agent for the account of the Lenders upon any payment pursuant to any Credit Support issued for such Borrower's account immediately upon demand, and to pay the issuer of the such Letter of Credit the amount of all other obligations and other amounts payable to such issuer under or in connection with any Letter of Credit issued for such Borrower's account immediately when due, irrespective of any claim, setoff, defense or other right which such Borrower may have at any time against such issuer or any other Person.

Payment of Letter of Credit Obligations. Each Borrower agrees to reimburse the issuer for any draw under any Letter of Credit issued for the account of such Borrower's account Borrower and the Agent for the account of the Lenders upon any payment pursuant to any Credit Support issued for related to such Borrower's account Letter of Credit immediately upon demand, and to pay the issuer of the Letter of Credit the amount of all other obligations and other amounts payable to such issuer under or in connection with any Letter of Credit issued for the account of such Borrower's account Borrower immediately when due, irrespective of any claim, setoff, defense or other right which such Borrower may have at any time against such issuer or any other Person.