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

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 4 contracts

Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)

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Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and reasonable expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's ’s or any Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower’s Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's ’s instructions or those contained in any Letter of Credit Credit, or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit or except for Agent's’s, any Lender's’s, any Issuer's ’s or such correspondents' ’ gross negligence or willful misconduct.

Appears in 3 contracts

Samples: Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, the Borrowers shall indemnify, save and hold the Agent, each Lender the Lenders and each the Issuer harmless from any loss, cost, expense or liability, including, without limitation, including payments made by the Agent, any Lender or any the Issuer and expenses and reasonable attorneys' fees incurred by the Agent, any Lender the Lenders or any the Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. The Borrowers shall be bound by the Agent's ’s or the Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' to the Loan Account, although this interpretation may be different from its own; and, neither the Agent, nor any Lender, nor any the Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's, any Lender's, any Issuer's unless on account of its own gross negligence or such correspondents' willful misconduct.

Appears in 3 contracts

Samples: Credit and Security Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.)

Requirements For Issuance of Letters of Credit. (a) In connection with the Letter Agreement and the issuance of any Letter of Credit Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, the Letter Agreement or any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 2 contracts

Samples: Security Agreement (PVC Container Corp), Security Agreement (PVC Container Corp)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each the Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any the Issuer and expenses and and, subject to Section 15.5(c), reasonable attorneys' fees incurred by Agent, any Lender or any the Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's ’s or Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower’s Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any the Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's’s, any Lender's’s, any the Issuer's ’s or such correspondents' willful misconductmisconduct or gross negligence (as determined by a court of competent jurisdiction in a final and non-appealable judgment).

Appears in 2 contracts

Samples: Loan and Security Agreement (Veeco Instruments Inc), Loan and Security Agreement (Marketwise, Inc.)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, (subject to the limitations of the Cross-Guaranty set forth in Section 17.1 hereof) Borrowers shall indemnify, save and hold Agent, Agent and each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by AgentAgent and any Lender, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, Agent or any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any a Borrower. Borrowers shall be bound by Agent's or Issuerany issuing or accepting bank's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Accountits account, although this interpretation may be different from its own; , and, neither Agent, Agent nor any Lender, nor any Issuer the bank which opened the Letter of Credit, nor any of their its correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, 's or any Lender's, any Issuer's or such correspondents' willful misconductmisconduct or gross (not mere) negligence.

Appears in 2 contracts

Samples: Security Agreement (Radnor Holdings Corp), Credit and Security Agreement (Radnor Holdings Corp)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' gross negligence or willful misconduct.

Appears in 2 contracts

Samples: Security Agreement (Imco Recycling Inc), Security Agreement (Pc Service Source Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any BorrowerBorrower other than due to Agent's, Lender's or Issuer's gross negligence or willful misconduct. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or any of such correspondents' correspondent's gross negligence or willful misconduct.

Appears in 2 contracts

Samples: Security Agreement (Lesco Inc/Oh), Security Agreement (Lesco Inc/Oh)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconductmisconduct or gross negligence.

Appears in 2 contracts

Samples: Loan and Security Agreement (Philipp Brothers Chemicals Inc), Philipp Brothers Chemicals Inc

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' bad faith or willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Waxman Industries Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrowerthe Borrowers. Borrowers shall be bound by Agent's or Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's the Borrowers' instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's, any Lender's, any Issuer's or any such correspondents' willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Jaco Electronics Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, including payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconductmisconduct or gross negligence.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Eltrax Systems Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrowers, jointly and severally, shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, including payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following the Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconductmisconduct or gross negligence.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Pietrafesa Corp)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Semx Corp)

Requirements For Issuance of Letters of Credit. (a) 2.12.1 In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Subordination Agreement (Obsidian Enterprises Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's ’s or any Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower’s Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's’s, any Lender's’s, any Issuer's ’s or such correspondents' ’ gross negligence or willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Blonder Tongue Laboratories Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Intelligroup Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's ’s or Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's ’s or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's’s, any Lender's’s, any Issuer's ’s or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Bucyrus International Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each the Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any the Issuer and expenses and and, subject to Section 15.5(c), reasonable attorneys' fees incurred by Agent, any Lender or any the Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's ’s or Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Xxxxxxxx’s Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any the Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's’s, any Lender'sXxxxxx’s, any the Issuer's ’s or such correspondents' willful misconductmisconduct or gross negligence (as determined by a court of competent jurisdiction in a final and non-appealable judgment).

Appears in 1 contract

Samples: Loan and Security Agreement (Marketwise, Inc.)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconductmisconduct or gross (not mere) negligence.

Appears in 1 contract

Samples: Security Agreement (Sunsource Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's ’s or any Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower’s Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's’s, any Lender's’s, any Issuer's ’s or such correspondents' ’ gross negligence or willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Champion Parts Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued for Borrower, except to the extent due to Agent's, a Lenders or created for any Borroweran Issuer's gross (not mere) negligence or willful misconduct. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations policies and good faith interpretations of any Letter of Credit issued or created for Borrowers' AccountBorrower's account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' gross (not mere) negligence or willful misconduct.

Appears in 1 contract

Samples: Revolving Credit And (Swank Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer Issuer, and expenses and reasonable attorneys' fees incurred by Agent, Agent or any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its Borrower's own; and, neither Agent, nor any Lender, nor any Issuer Issuer, nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Fonda Group Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, Agent and each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by AgentAgent and any Lender, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, Agent or any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for Borrower other than for Agent's or any BorrowerLender's gross negligence or willful misconduct. Borrowers Borrower shall be bound by Agent's or Issuerany issuing or accepting bank's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' AccountBorrower's account, although this interpretation may be different from its Borrower's own; and, neither Agent, Agent nor any Lender, nor any Issuer the bank which opened the Letter of Credit, nor any of their its correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's written instructions or those contained in any Letter of Credit Credit, or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, 's or any Lender's, any Issuer's or such correspondents' issuing bank's willful misconductmisconduct or gross negligence.

Appears in 1 contract

Samples: Security Agreement (Allstate Financial Corp /Va/)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, Agent and each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by AgentAgent and any Lender, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, Agent or any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or Issuerany issuing or accepting bank's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its own; and, neither Agent, Agent nor any Lender, nor any Issuer the bank which opened the Letter of Credit, nor any of their its correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's, 's or any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Cygne Designs Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' gross negligence or willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Us Home & Garden Inc)

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Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Rheometric Scientific Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' gross (not mere) negligence or willful misconduct.

Appears in 1 contract

Samples: Revolving Credit (Trescom International Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, Agent and each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by AgentAgent and any Lender, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, Agent or any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or Issuerany issuing or accepting bank's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, Agent nor any Lender, nor any Issuer the bank which opened the Letter of Credit, nor any of their its correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, 's or any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Batteries Batteries Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's ’s or any Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower’s Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's’s, any Lender's’s, any Issuer's ’s or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Eos International Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Administrative Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Administrative Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Administrative Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Administrative Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Administrative Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Administrative Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Comforce Corp)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, including payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Air Methods Corp

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's ’s or any Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's ’s or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's’s, any Lender's’s, any Issuer's ’s or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Revolving Credit (Allied Motion Technologies Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's Borrowers' instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (HMG Worldwide Corp)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Terrace Holdings Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Agent's or Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakesmistake, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Brown Jordan International Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers and ATI shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any BorrowerBorrower or ATI. Borrowers and ATI shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's or ATI's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' gross negligence or willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Allegheny Technologies Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Security Agreement (Dreamlife Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, the Borrowers shall indemnify, save and hold Agent, each the Lender and each the Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any the Lender or any the Issuer and expenses and reasonable attorneys' fees incurred by Agent, any the Lender or any the Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. The Borrowers shall be bound by Agentthe Lender's or the Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' the Loan Account, although this interpretation may be different from its own; and, neither Agent, nor any the Lender, nor any the Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following the Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Agent's, any the Lender's, any the Issuer's or such correspondents' gross negligence or willful misconduct.

Appears in 1 contract

Samples: And (Blonder Tongue Laboratories Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Credit, Borrowers shall indemnify, save and hold Administrative Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Administrative Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Administrative Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers shall be bound by Administrative Agent's ’s or any Issuer's ’s regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Account, although this interpretation may be different from its own; and, neither Administrative Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's ’s or any Borrower's ’s instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit Credit, except for Administrative Agent's’s, any Lender's’s, any Issuer's ’s or such correspondents' willful misconduct.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Comforce Corp)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit except for Agent's, any Lender's, any Issuer's or such correspondents' willful misconductmisconduct or gross negligence.

Appears in 1 contract

Samples: Security Agreement (Robotic Vision Systems Inc)

Requirements For Issuance of Letters of Credit. (a) In connection with the issuance of any Letter of Credit Borrowers Credit, Borrower shall indemnify, save and hold Agent, each Lender and each Issuer harmless from any loss, cost, expense or liability, including, without limitation, payments made by Agent, any Lender or any Issuer and reasonable expenses and reasonable attorneys' fees incurred by Agent, any Lender or any Issuer arising out of, or in connection with, any Letter of Credit to be issued or created for any Borrower. Borrowers Borrower shall be bound by Agent's or any Issuer's regulations and good faith interpretations of any Letter of Credit issued or created for Borrowers' Borrower's Account, although this interpretation may be different from its own; and, neither Agent, nor any Lender, nor any Issuer nor any of their correspondents shall be liable for any error, negligence, or mistakes, whether of omission or commission, in following Borrowing Agent's or any Borrower's instructions or those contained in any Letter of Credit Credit, or of any modifications, amendments or supplements thereto or in issuing or paying any Letter of Credit or except for Agent's, any Lender's, any Issuer's or such correspondents' gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit and Security Agreement (Pc Connection Inc)

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