Common use of Purposes of Letters of Credit Clause in Contracts

Purposes of Letters of Credit. Each Letter of Credit shall be satisfactory in form, substance and beneficiary to the Issuing Bank in its discretion. Letters of Credit may be used by the Borrowers for any proper corporate purpose, including providing credit support for any Indebtedness or other direct or indirect financing arrangements of the Borrowers as permitted by this Agreement. The provisions of this Section 3.01(d) represent only an obligation of the Borrowers to the Issuing Banks and the Lenders; the Issuing Bank shall have no obligation to the Lenders to ascertain the purpose of any Letter of Credit, and the rights and obligations of the Lenders and the Issuing Bank among themselves shall not be impaired or affected by a breach of this Section 3.01(d).

Purposes of Letters of Credit. Each Letter of Credit shall be satisfactory in form, substance and beneficiary to the Issuing Bank in its discretion. Letters of Credit may be used by the Borrowers Borrower for any proper corporate purpose, including providing credit support for any Indebtedness or other direct or indirect financing arrangements of the Borrowers as permitted by this Agreement. The provisions of this Section 3.01(d) represent only an obligation of the Borrowers Borrower to the Issuing Banks and the Lenders; the Issuing Bank shall have no obligation to the Lenders to ascertain the purpose of any Letter of Credit, and the rights and obligations of the Lenders and the Issuing Bank among themselves shall not be impaired or affected by a breach of this Section 3.01(d).

Purposes of Letters of Credit. Each Letter of Credit shall be satisfactory in form, substance and beneficiary to the applicable Issuing Bank in its discretion. Letters of Credit may be used by the Borrowers Account Parties for any proper corporate purpose, including providing credit support for any Indebtedness or other direct or indirect financing arrangements of the Borrowers as permitted by this Agreement. The provisions of this Section 3.01(d) represent only an obligation of the Borrowers any Account Party to the applicable Issuing Bank or Banks and the Lenders; the no Issuing Bank shall have no any obligation to the Lenders to ascertain the purpose of any Letter of Credit, and the rights and obligations of the Lenders and the any such Issuing Bank among themselves shall not be impaired or affected by a breach of this Section 3.01(d).

Purposes of Letters of Credit. Each Letter of Credit shall be satisfactory in form, substance and beneficiary to the Issuing Bank in its reasonable discretion. Letters Each Letter of Credit may shall be used by the Borrowers for any proper corporate purpose, including providing Borrower or a Guarantor as a standby or trade letter of credit used to provide credit support for any Indebtedness the Borrower or other direct or indirect financing arrangements of the Borrowers as permitted by this Agreementsuch Subsidiaries. The provisions of this Section 3.01(d3.1(c) represent only an obligation of the Borrowers Borrower to the Issuing Banks Bank and the Lenders; the Issuing Bank shall have no obligation to the Lenders to ascertain the purpose of any Letter of Credit, and the rights and obligations of the Lenders and the Issuing Bank among themselves shall not be impaired or affected by a breach of this Section 3.01(d3.1(c).

Purposes of Letters of Credit. Each Letter of Credit shall be satisfactory in form, form and substance and beneficiary to the Issuing Bank in its reasonable discretion. Letters of Credit may be used by the Borrowers Borrower or its Subsidiaries for any proper corporate purpose, including providing credit support for any Indebtedness or other direct or indirect financing arrangements of the Borrowers Borrower or its Subsidiaries as permitted by this Agreement. The provisions of this Section 3.01(d) represent only an obligation of the Borrowers Borrower to the Issuing Banks and the Lenders; the Issuing Bank shall have no obligation to the Lenders to ascertain the purpose of any Letter of Credit, and the rights and obligations of the Lenders and the Issuing Bank among themselves shall not be impaired or affected by a breach of this Section 3.01(d).

Purposes of Letters of Credit. Each Letter of Credit shall be satisfactory in form, substance and beneficiary to the Issuing Bank in its discretion. Letters of Credit may be used by the Borrowers Account Party for any proper corporate purpose, including providing credit support for any Indebtedness or other direct or indirect financing arrangements of the Borrowers as permitted by this Agreement. The provisions of this Section 3.01(d) represent only an obligation of the Borrowers Account Party to the Issuing Banks and the Lenders; the Issuing Bank shall have no obligation to the Lenders to ascertain the purpose of any Letter of Credit, and the rights and obligations of the Lenders and the Issuing Bank among themselves shall not be impaired or affected by a breach of this Section 3.01(d).