Use of and Requests for SBLCs. Each SBLC shall be issued to the landlord of a Restaurant to meet a requirement in a Project Subsidiary’s lease of the Restaurant. Each SBLC must be requested using a duly completed and executed SBLC Agreement provided by Bank and duly executed by Borrower and the applicable Project Subsidiary.
Appears in 2 contracts
Samples: Credit Agreement (Ark Restaurants Corp), Credit Agreement (Ark Restaurants Corp)
Use of and Requests for SBLCs. Each SBLC shall be issued to the landlord of a Restaurant to meet a requirement in a Project Subsidiary’s lease of the Restaurant. Each SBLC must be requested using a duly completed and executed SBLC Agreement provided by Bank and duly executed by Borrower and the applicable Project SubsidiaryBank.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement (Ark Restaurants Corp)
