Common use of Borrower Obligations Clause in Contracts

Borrower Obligations. Notwithstanding the fact that any Letters of Credit are issued for the account of Subsidiaries of the Borrower, any such L/C Obligations in respect of such Letters of Credit issued for the account of Subsidiaries shall for all purposes constitute Obligations of the Borrower under this Agreement and any Credit Extensions in respect of Letters of Credit, as the case may be, shall be Credit Extensions made for the account of the Borrower hereunder.

Borrower Obligations. Notwithstanding the fact that any Letters of Credit are issued for the account of Subsidiaries of the Borrower, any such L/C Obligations in respect of such Letters of Credit issued for the account of Subsidiaries shall for all purposes constitute Obligations of the Borrower under this Agreement and any Credit Extensions Extension in respect of Letters of Credit, as the case may be, shall be Credit Extensions made for the account of the Borrower hereunder.