Common use of Letters of Credit Issued for Restricted Subsidiaries Clause in Contracts

Letters of Credit Issued for Restricted Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Restricted Subsidiary, the Company shall be obligated to reimburse, or to cause the applicable Restricted Subsidiary to reimburse, the applicable L/C Issuer hereunder for any and all drawings under such Letter of Credit. The Company hereby acknowledges that the issuance of Letters of Credit for the account of Restricted Subsidiaries inures to the benefit of the Company and that the Company’s business derives substantial benefits from the businesses of such Restricted Subsidiaries.

Letters of Credit Issued for Restricted Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Restricted SubsidiarySubsidiary of any Borrower, the Company Borrowers shall be obligated to reimburse, or to cause reimburse the applicable Restricted Subsidiary to reimburse, the applicable L/C Issuer Issuing Bank hereunder for any and all drawings under such Letter of Credit. The Company Each of the Borrowers hereby acknowledges that the issuance of Letters of Credit for the account of the Restricted Subsidiaries inures to the benefit of the Company such Borrower, and that the Companysuch Borrower’s business derives substantial benefits from the businesses of such Restricted Subsidiaries.