Common use of Designation of Subsidiaries as Account Parties Clause in Contracts

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, a Credit-Linked Letter of Credit issued hereunder may contain a statement to the effect that such Credit-Linked Letter of Credit is issued for the account of a Subsidiary of the Borrower; provided that, notwithstanding such statement, the Borrower shall be the actual account party and borrower for all purposes of this Agreement for such Credit-Linked Letter of Credit and any Credit-Linked Purchase and Term Loan with respect to an Unreimbursed Drawing thereunder and such statement shall not affect the Borrower’s reimbursement obligations hereunder with respect to such Credit-Linked Letter of Credit and its repayment obligations hereunder with respect to such Term Loan.

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, a Credit-Linked Letter of Credit issued hereunder may contain a statement to the effect that such Credit-Linked Letter of Credit is issued for the account of a Subsidiary of the Borrower; provided that, notwithstanding such statement, the Borrower shall be the actual account party and borrower for all purposes of this Agreement for such Credit-Linked Letter of Credit and any Credit-Linked Purchase and Term Loan with respect to an Unreimbursed Drawing thereunder and such statement shall not affect the Borrower’s 's reimbursement obligations hereunder with respect to such Credit-Linked Letter of Credit and its repayment obligations hereunder with respect to such Term Loan.