Purpose of Letters of Credit. Each Standby Letter of Credit shall be used by the Borrower solely (a) to provide credit support for borrowings by the Borrower or its Subsidiaries, or (b) for other working capital purposes of the Borrower and Subsidiaries in the ordinary course of business. Each Commercial Letter of Credit will be used by the Borrower and Subsidiaries solely to provide the primary means of payment in connection with the purchase of goods or services by the Borrower and its Subsidiaries in the ordinary course of business.
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Samples: Credit Agreement (Napco Security Technologies, Inc), Credit Agreement (Napco Security Technologies, Inc), Credit Agreement (Napco Security Technologies, Inc)
Purpose of Letters of Credit. Each Standby Letter of Credit shall be used by the Borrower Company solely (a) to provide credit support for borrowings by the Borrower Company or its Subsidiaries, or (b) for other working capital purposes of the Borrower Company and Subsidiaries in the ordinary course of business. Each Commercial Letter of Credit will be used by the Borrower Company and Subsidiaries solely to provide the primary means of payment in connection with the purchase of goods or services by the Borrower Company and its Subsidiaries in the ordinary course of business.
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Purpose of Letters of Credit. Each Standby Letter of Credit shall be used by the Borrower solely (a) to provide credit support for borrowings by the Borrower or its Subsidiaries, or (b) for other working capital purposes of the Borrower and Subsidiaries in the ordinary course of business. Each Commercial Letter of Credit will be used by the Borrower and Subsidiaries solely to provide the primary means of payment in connection with the purchase of goods or services by the Borrower and its Subsidiaries in the ordinary course of business.. β
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Samples: Credit Agreement (Napco Security Technologies, Inc)
Purpose of Letters of Credit. Each Standby Letter of Credit shall be used by the Borrower Company solely (a) to provide credit support for borrowings by the Borrower Company or its Subsidiaries, or (b) for other working capital purposes of the Borrower Company and Subsidiaries in the ordinary course of business. Each Commercial Letter of Credit will be used by the Borrower Company and Subsidiaries solely to provide the primary means of payment in connection with the purchase of goods or services by the Borrower Company and its Subsidiaries in the ordinary course of business.
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