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

Payment of Letter of Credit Obligations. The Borrower agrees to reimburse the issuer, in the manner set forth in Section 2.4(e)(2), for any draw under any Letter of Credit and, without duplication, the Agent for the account of the Lenders upon any payment pursuant to any credit support 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 immediately when due, irrespective of any claim, setoff, defense or other right which the Borrower may have at any time against such issuer or any other Person.

Appears in 1 contract

Samples: Loan and Security Agreement (Revlon Consumer Products Corp)

AutoNDA by SimpleDocs

Payment of Letter of Credit Obligations. The Borrower agrees immediately upon demand to reimburse the issuer, in the manner set forth in Section 2.4(e)(2), Letter of Credit Issuer from proceeds of Revolving Loans for any draw under any Letter of Credit and, without duplication, and the Agent for the account of the Lenders upon any payment pursuant to any credit support immediately upon demandCredit Support, and to pay the issuer of the Letter of Credit Issuer the amount of all other obligations and other amounts payable to such issuer Letter of Credit Issuer under or in connection with any Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the Borrower may have at any time against such issuer or any other Person.

Appears in 1 contract

Samples: Loan and Security Agreement (Fruit of the Loom LTD)

Payment of Letter of Credit Obligations. The Each Borrower agrees to reimburse the issuer, in the manner set forth in Section 2.4(e)(2), issuer for any draw under any Letter of Credit and, without duplication, issued for the account of such Borrower and the Agent for the account of the Lenders upon any payment pursuant to any credit support Credit Support issued for the account of such Borrower 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 such Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the such Borrower may have at any time against such issuer or any other Person.

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

AutoNDA by SimpleDocs

Payment of Letter of Credit Obligations. The Borrower agrees to reimburse the issuer, in the manner set forth in Section 2.4(e)(22.3(d)(2), for any draw under any Letter of Credit and, without duplication, the Agent for the account of the Lenders upon any payment pursuant to any credit support immediately upon demand, and to pay the issuer of the Letter of Credit Credit, respectively, the amount of all other obligations and other amounts payable to such issuer under or in connection with any Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the Borrower may have at any time against such issuer or any other Person.

Appears in 1 contract

Samples: Loan and Security Agreement (Woodworkers Warehouse Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.