Common use of Additional Letters of Credit Clause in Contracts

Additional Letters of Credit. Subject to the terms and conditions set forth herein, the Borrowers may request the issuance of Additional Letters of Credit for their account, in a form reasonably acceptable to the Administrative Agent and the relevant Fronting Bank, at any time and from time to time during the period beginning on the Effective Date and ending on the thirtieth day prior to the Termination Date. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the letter of credit application and any related documentation submitted by the Borrowers to, or entered into by the Borrowers with, the relevant Fronting Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

Appears in 3 contracts

Samples: Credit Agreement (Equistar Chemicals Lp), Credit Agreement (Lyondell Chemical Co), Credit Agreement (Lyondell Chemical Co)

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Additional Letters of Credit. Subject to the terms and conditions set forth herein, the Borrowers Borrower may request the issuance of Additional Letters of Credit for their its account, in a form reasonably acceptable to the Administrative Servicing Agent and the relevant Fronting Bank, at any time and from time to time during the period beginning on the Effective Date and ending on the thirtieth day fifth Business Day prior to the Termination Revolving Maturity Date. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the letter of credit application and any related documentation submitted by the Borrowers Borrower to, or entered into by the Borrowers Borrower with, the relevant Fronting Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

Appears in 2 contracts

Samples: Credit Agreement (Equistar Chemicals Lp), Credit Agreement (Lyondell Chemical Co)

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