Letter of Credit Obligations Absolute. (i) The obligation of the Borrowers to reimburse the Lender as provided hereunder in respect of drawings under Letters of Credit issued hereunder shall be absolute and unconditional under any and all circumstances subject to subsection (ii) below. Without limiting the generality of the foregoing, the obligation of the Borrowers to reimburse the Lender in respect of drawings under Letters of Credit shall not be subject to any defense based on the non-application or misapplication by the beneficiary of the proceeds of any such drawing or the legality, validity, regularity or enforceability of the Letters of Credit or any related document, even though such document shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among any of the Borrowers, the beneficiary of any Letter of Credit, or any financial institution or other party to which any Letter of Credit may be transferred. The Lender may accept or pay any draft presented to it under any Letter of Credit regardless of when drawn or made and whether or not negotiated, if such draft, accompanying certificate or documents and any transmittal advice are presented or negotiated on or before the expiry date of such Letter of Credit or any renewal or extension thereof then in effect, and is in substantial compliance with the terms and conditions of such Letter of Credit. Furthermore, neither the Lender nor any of its correspondents shall be responsible, as to any document presented under a Letter of Credit which appears to be regular on its face, and appears on its face to be in substantial compliance with the terms of the Letter of Credit, for the validity or sufficiency of any signature or endorsement, for delay in giving any notice or failure of any instrument to bear adequate reference to the Letter of Credit, or for failure of any Person to note the amount of any draft on the reverse of the Letter of Credit. The Lender shall have the right, in its sole discretion, to decline to accept any documents and to decline to make payment under any Letter of Credit if the documents presented are not in strict compliance with the terms of such Letter of Credit.
Letter of Credit Obligations Absolute. The obligation of the Borrower to reimburse the Issuer for drawings made under Letters of Credit issued for the account of the Borrower and the Lenders' obligation to honor their participations purchased therein shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including without limitation, the following circumstances:
Letter of Credit Obligations Absolute. The obligation of Intermet to reimburse the Agent for drawings made under Letters of Credit issued for the account of Intermet and the Lenders' obligation to honor their participations purchased therein shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including without limitation, the following circumstances:
Letter of Credit Obligations Absolute. With regard to each Letter of Credit, the obligations of Borrower to the Bank under this Loan Agreement, any Letter of Credit Document and any other agreement or instrument relating to any Letter of Credit shall be unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Loan Agreement, such Letter of Credit Document and such other agreement or instrument under all circumstances, including without limitation the following circumstances:
Letter of Credit Obligations Absolute. Borrower's obligations to make payments to the Bank in order to reimburse payments by the Bank on Letters of Credit as provided above shall be absolute and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement and each Letter of Credit Agreement, under any and all circumstances whatsoever, and irrespective of:
Letter of Credit Obligations Absolute. The obligation of ------------------------------------- each Account Party to reimburse the Agent for drawings made under Letters of Credit issued for the account of the Account Party and the Banks' obligation to honor their participations purchased therein shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including without limitation, the following circumstances:
Letter of Credit Obligations Absolute. (i) The obligation of the Borrowers to reimburse the Issuing Bank for each drawing under each Letter of Credit shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:
Letter of Credit Obligations Absolute. (i) The obligation of the Company to reimburse the Agent as provided hereunder in respect of drawings under Letters of Credit shall rank pari passu with the obligation of the Company to repay the Revolving Credit Loans hereunder, and shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, the obligation of the Company to reimburse the Agent in respect of drawings under Letters of Credit shall not be subject to any defense based on the non-application or misapplication by the beneficiary of the proceeds of any such drawing or the legality, validity, regularity or enforceability of the Letters of Credit or any related document or any dispute between or among the Company, the beneficiary of any Letter of Credit or any financial institution or other party to which any Letter of Credit may be transferred. The Agent may accept or pay any draft presented to it under any Letter of Credit regardless of when drawn or made and whether or not negotiated, if such draft, accompanying certificate or documents and any transmittal advice are presented or negotiated on or before the expiry date of such Letter of Credit or any renewal or extension thereof then in effect, and conforms to the terms and conditions of such Letter of Credit. Furthermore, neither the Agent nor any of its correspondents nor any Lender shall be responsible, as to any document presented under a Letter of Credit which appears to be regular on its face, and appears on its face to conform to the terms of the Letter of Credit, for the validity or sufficiency of any signature or endorsement, for delay in giving any notice or failure of any instrument to bear adequate reference to the Letter of Credit, or for failure of any Person to note the amount of any draft on the reverse of the Letter of Credit.
Letter of Credit Obligations Absolute. The obligation of TIMET to reimburse the Issuing Bank for each drawing under each Letter of Credit and to repay each Reimbursement Obligation shall be absolute, unconditional, and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement and any reimbursement agreement executed by TIMET in favor of the Issuing Bank under all circumstances, including the following:
Letter of Credit Obligations Absolute. 48 Section 5.21 Indemnification; Nature of Agent's Duties With Respect to Letters of Credit . . . . . 49 Section 5.22 Additional Payments With Respect to Letter of Credit; Illegality . . . . . . . . 50 Section 5.23 Failure to Maintain Minimum Required Rating . . . . . . . . . . . . . . 51
