Termination of Letters of Credit. An LC Issuer shall only terminate a given Letter of Credit (in whole or in part) upon receipt of appropriate documentation from the beneficiary thereof or, upon the expiration thereof in accordance with its terms. Funds remaining in the LC Collateral Account to Cash Collateralize such terminated Letter of Credit shall be applied in accordance with clause (n) of this Section 2.04.
Appears in 5 contracts
Samples: Receivables Loan and Servicing Agreement (NRG Energy, Inc.), Receivables Loan and Servicing Agreement (NRG Energy, Inc.), Receivables Loan and Servicing Agreement (NRG Energy, Inc.)
