Common use of Payment under Borrower Letters of Credit Clause in Contracts

Payment under Borrower Letters of Credit. If the letter of credit payment terms for the country specified in a certain Export Order are specified in the Country Limitation Schedule with respect to such country, Borrower shall require that each commercial letter of credit issued for its benefit with respect to any Export-Related Account Receivable or Export-Related Inventory arising out such Export Order shall provide that all payments of drawings thereunder shall be paid for the account of Borrower directly to Borrower's account with Lender, or, alternatively, that payment shall be made only to Lender's account.

Payment under Borrower Letters of Credit. If the letter of credit payment terms for the country specified in a certain Export Order are specified in the Country Limitation Schedule with respect to such country, Borrower shall require that each commercial letter of credit issued for its benefit with respect to any Export-Related Account Receivable or Export-Related Inventory arising out such Export Order shall provide that all payments of drawings thereunder shall be paid for the account of Borrower directly to Borrower's ’s account with Lender, or, alternatively, that payment shall be made only to Lender's ’s account.

Payment under Borrower Letters of Credit. If the letter of credit payment terms for the country specified in a certain Export Order are specified in the Country Limitation Schedule with respect to such country, Borrower shall require that each commercial letter of credit issued for its benefit with respect to any Export-Related Account Receivable or Export-Export- Related Inventory arising out such Export Order shall provide that all payments of drawings thereunder shall be paid for the account of Borrower directly to Borrower's account with Lender, or, alternatively, that payment shall be made only to Lender's account.