Common use of Payment to Issuer Clause in Contracts

Payment to Issuer. Notwithstanding any provisions to the contrary in any Reimbursement Agreement, the Borrowers jointly and severally agree to reimburse the Issuing Bank for any drawings (whether partial or full) under each Letter of Credit issued by the Issuing Bank and agree to pay to the Issuing Bank the amount of all other Reimbursement Obligations and other amounts payable to the Issuing Bank under or in connection with such Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the Borrowers may have at any time against the Issuing Bank or any other Person.