Requirements For Issuance of Letters of Credit. The Seller shall authorize and direct the LC Bank to name the Seller, the Servicer or any Sub-Servicer (or such the Servicer’s or any Sub-Servicer’s, as applicable, designee, which designee shall be a Subsidiary of such Sub-Servicer or the Servicer, as applicable) as the “Applicant” or “Account Party” of each Letter of Credit.
Appears in 6 contracts
Samples: Receivables Purchase Agreement (Peabody Energy Corp), Receivables Purchase Agreement (Peabody Energy Corp), Receivables Purchase Agreement (Peabody Energy Corp)
Requirements For Issuance of Letters of Credit. The Seller shall authorize and direct the LC Bank to name the Seller, the Servicer or any Sub-Servicer (or such the Servicer’s 's or any Sub-Servicer’s's, as applicable, designee, which designee shall be a Subsidiary of such Sub-Servicer or the Servicer, as applicable) as the “Applicant” or “Account Party” of each Letter of Credit.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Peabody Energy Corp)
