Issuing Bank definition
Examples of Issuing Bank in a sentence
In the event that the Borrower shall fail for any reason to reimburse any Issuing Bank for an LC Disbursement as provided in Section 3.3B when due or provide cash collateral as required by the last paragraph of Section 3.1A, the Administrative Agent shall notify each Lender of the applicable LC Disbursement or of such failure, the payment then due from the Borrower in respect thereof and such ▇▇▇▇▇▇’s Pro Rata Share thereof.
A certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary to compensate such Lender or such Issuing Bank or its holding company, as the case may be, as specified in Section 2.7A or 2.7B and delivered to the Borrower shall be conclusive absent manifest error.
Each of the Borrower, Holdings, each Lender and each Issuing Bank party hereto understands and accepts such risks.
To the extent that any Lender is identified in this Agreement as a Joint Lead Arranger or Bookrunner, such Lender shall not have any right, power, obligation, liability, responsibility or duty under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or an Issuing Bank, but each such Person shall have the benefit of the indemnities and exculpatory provisions hereof.
The Borrower shall pay such Lender or such Issuing Bank, as the case maybe, the amount shown as due on any such certificate within ten days after receipt thereof.