Common use of Requirements For Issuance of Letters of Credit Clause in Contracts

Requirements For Issuance of Letters of Credit. The Borrower shall authorize and direct any Issuing Bank to name the applicable Restricted Subsidiary as the “applicant” or “account party” of each Letter of Credit. If the Administrative Agent is not the Issuing Bank (or an Affiliate of the applicable Issuing Bank) of any Letter of Credit, the Borrower shall authorize and direct the applicable Issuing Bank to deliver to the Administrative Agent all instruments, documents, and other writings and property received by such Issuing Bank pursuant to such Letter of Credit and to accept and rely upon the Administrative Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit and the application therefor.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (QualTek Services Inc.), Abl Credit and Guaranty Agreement (QualTek Wireline LLC)

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Requirements For Issuance of Letters of Credit. The Borrower shall authorize and direct any Issuing Bank to name the applicable Restricted Subsidiary as the “applicant” or “account party” of each Letter of Credit. If the Administrative Agent is not the Issuing Bank (or an Affiliate of the applicable Issuing Bank) of any Letter of Credit, the Borrower shall authorize and direct the applicable Issuing Bank to deliver to the Administrative Agent all instruments, documents, and other writings and property received by such Issuing Bank pursuant to such Letter of Credit and to accept and rely upon the Administrative Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit and the application therefor.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (QualTek Services Inc.), Credit and Guaranty Agreement (QualTek Services Inc.)

Requirements For Issuance of Letters of Credit. The Borrower Borrowing Agent shall authorize and direct any Issuing Bank the L/C Issuer to name the any applicable Restricted Subsidiary Borrower or any of their Subsidiaries as the “applicant” "Applicant" or “account party” "Account Party" of each Letter of Credit. If the Administrative Agent is not the Issuing Bank (or an Affiliate of the applicable Issuing Bank) L/C Issuer of any Letter of Credit, the Borrower Borrowing Agent shall authorize and direct the applicable Issuing Bank L/C Issuer to deliver to the Administrative Agent all instruments, documents, and other writings and property received by such Issuing Bank the L/C Issuer pursuant to such the Letter of Credit and to accept and rely upon the Administrative Agent’s 's instructions and agreements with respect to all matters arising in connection with the Letter of Credit and or the application therefor.

Appears in 1 contract

Samples: Financing Agreement (Harvard Bioscience Inc)

Requirements For Issuance of Letters of Credit. The Borrower shall authorize and direct any Issuing Bank to name the applicable Restricted Subsidiary as the “applicant” or “account party” of each Letter of Credit. If the Administrative Agent is not the Issuing Bank (or an Affiliate of the applicable Issuing Bank) of any Letter of Credit, the Borrower shall authorize and direct the applicable Issuing Bank to deliver to the Administrative Agent all instruments, documents, and other writings and property received by such Issuing Bank pursuant to such Letter of Credit and to accept and rely upon the Administrative Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit and the application therefor.. (g) Disbursements; Reimbursement. DMFIRM #406105327 v12 100

Appears in 1 contract

Samples: Credit and Guaranty Agreement (QualTek Services Inc.)

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Requirements For Issuance of Letters of Credit. The Borrower shall authorize and direct any Issuing Bank to name the applicable Restricted Subsidiary as the “applicant” or “account party” of each Letter of Credit. If the Administrative Agent is not the Issuing Bank (or an Affiliate of the applicable Issuing Bank) of any Letter of Credit, the Borrower shall authorize and direct the applicable Issuing Bank to deliver to the Administrative Agent all instruments, documents, and other writings and property received by such Issuing Bank pursuant to such Letter of Credit and to accept and rely upon the Administrative Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit and the application therefor.. ​ 100 ​

Appears in 1 contract

Samples: Credit and Guaranty Agreement (QualTek Services Inc.)

Requirements For Issuance of Letters of Credit. The Borrower shall authorize and direct any Issuing Bank to name the applicable Restricted Subsidiary as the “applicant” or “account party” of each Letter of Credit. If the Administrative Agent is not the Issuing Bank (or an Affiliate of the applicable Issuing Bank) of any Letter of Credit, the Borrower shall authorize and direct the applicable Issuing Bank to deliver to the Administrative Agent all instruments, documents, and other writings and property received by such Issuing Bank DMFIRM #406105327 v2 87 pursuant to such Letter of Credit and to accept and rely upon the Administrative Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit and the application therefor.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (QualTek Services Inc.)

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