Common use of Obligation to Issue Letters of Credit Clause in Contracts

Obligation to Issue Letters of Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations, warranties and covenants of the Borrowers herein set forth, each Issuing Bank hereby agrees to issue for the account of the Company or any Subsidiary Borrower through such Issuing Bank’s branches as it and the Company may jointly agree, one or more Letters of Credit denominated in an Agreed Currency in accordance with this Article III, from time to time during the period, commencing on the Closing Date and ending on the fifth (5th) Business Day prior to the Termination Date; provided, however, if an Issuing Bank is requested to issue Letters of Credit with respect to a jurisdiction such Issuing Bank deems, in its sole discretion, may at any time subject it to a New Money Credit Event, the Company shall, at the request of such Issuing Bank, guaranty and indemnify such Issuing Bank against any and all costs, liabilities and losses resulting from any New Money Credit Event in a form and substance satisfactory to such Issuing Bank.

Obligation to Issue Letters of Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations, warranties and covenants of the Borrowers herein set forth, each Issuing Bank hereby agrees to issue for the account of the Company or any Subsidiary Borrower through such Issuing Bank’s 's branches as it and the Company may jointly agree, one or more Letters of Credit denominated in an Agreed Currency in accordance with this Article III, from time to time during the period, commencing on the Closing Date and ending on the fifth (5th) Business Day prior to the Termination Date; provided, however, if an Issuing Bank is requested to issue Letters of Credit with respect to a jurisdiction such Issuing Bank deems, in its sole discretion, may at any time subject it to a New Money Credit Event, the Company shall, at the request of such Issuing Bank, guaranty and indemnify such Issuing Bank against any and all costs, liabilities and losses resulting from any New Money Credit Event in a form and substance satisfactory to such Issuing Bank.

Obligation to Issue Letters of Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations, warranties and covenants of the Borrowers herein set forth, each Issuing Bank hereby agrees to issue for the account of the Company or any Subsidiary Borrower through such Issuing Bank’s 's branches as it and the Company may jointly agree, one or more Letters of Credit denominated in an Agreed Currency in accordance with this Article III, from time to time during the period, commencing on the Closing Date and ending on the fifth (5th) Business Day prior to the Termination Date; provided, however, if an Issuing Bank is requested to issue Letters of Credit with respect to a jurisdiction such Issuing Bank deems, in its sole discretion, may at any time subject it to a New Money Credit Event, the Company shall, at the request of such Issuing Bank, guaranty and indemnify such Issuing Bank against any and all costs, liabilities and losses resulting from any New Money Credit Event in a form and substance satisfactory to such Issuing Bank. The parties hereto acknowledge and agree that only Performance Letters of Credit (as reasonably determined by the applicable Issuing Bank as issuer thereof) shall be eligible as Letters of Credit hereunder and no other type of letter of credit or Bank Undertaking may be issued hereunder.

Obligation to Issue Letters of Credit. Subject to the terms and conditions of this Agreement and in reliance upon the representations, warranties and covenants of the Borrowers herein set forth, each Issuing Bank hereby agrees to issue for the account of the Company or any Subsidiary Borrower through such Issuing Bank’s 's branches as it and the Company may jointly agree, one or more Letters of Credit denominated in an Agreed Currency in accordance with this Article III, from time to time during the period, commencing on the Closing Date and ending on the fifth (5th) Business Day prior to the Termination Date; provided, however, if an Issuing Bank is requested to issue Letters of Credit with respect to a jurisdiction such Issuing Bank deems, in its sole discretion, may at any time subject it to a New Money Sidley Xxxxxx Xxxxx & Xxxx Credit Event, the Company shall, at the request of such Issuing Bank, guaranty and indemnify such Issuing Bank against any and all costs, liabilities and losses resulting from any New Money Credit Event in a form and substance satisfactory to such Issuing Bank.