Common use of Irrevocable Payment Instructions Clause in Contracts

Irrevocable Payment Instructions. Forthwith upon delivery of any Sales Contract Designation Notice with respect to any Sales Contract, the Guarantor shall deliver an original duly executed Irrevocable Payment Instructions with respect to that Sales Contract to the relevant Buyer and, in the case of a Covered Buyer, the Permitted Covering Institution issuing the letter or letters of credit or the insurance policy or policies (as applicable) supporting the relevant Covered Buyer’s payment obligations under that Sales Contract (with, in each case, a copy to the Trustee).