Examples of L/C Supportable Obligations in a sentence
Each notice shall be in the form of Exhibit C, appropriately completed (each a “Letter of Credit Request”) to specify: (i) the name of the respective Issuing Lender thereof; (ii) the date of issuance of such Letter of Credit (which shall be a Business Day); (iii) the initial Stated Amount of such Letter of Credit; (iv) the beneficiary of such Letter of Credit and the L/C Supportable Obligations to be supported thereby; and (v) the stated expiration date of such Letter of Credit.
Such Letter of Credit may be issued for the account of the Borrower Agent, on behalf of any Borrower, and for the benefit of any holder of L/C Supportable Obligations.
Intermediate HoldCo and the Borrower shall not enter into, nor shall they permit any of their Subsidiaries to enter into, any insurance contract or policy to be supported by a Synthetic L/C if the obligations supported by such Synthetic L/C are not Synthetic L/C Supportable Obligations.
The Synthetic L/Cs shall be used solely to support Synthetic L/C Supportable Obligations.