Common use of Account Party Clause in Contracts

Account Party. Each Borrower hereby authorizes and directs the ------------- Issuing Lender or any other issuer of a Letter of Credit to name the applicable Borrower as the "Account Party" therein and, upon its applicable Lender's request, to deliver to its applicable Lender all instruments, documents and other writings and property received by the Issuing Lender or any other issuer of a Letter of Credit pursuant to the Letter of Credit, and to accept and rely upon its applicable Lender's instructions and agreements with respect to all matters arising in connection with the Letter of Credit or the application therefor.

Appears in 1 contract

Samples: Loan Agreement (Grand Toys International Inc)

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Account Party. Each Borrower hereby authorizes and directs the ------------- Issuing Lender Agent to name Borrower, or any other issuer of a Loan Party designated by the Borrower, as the “Account Party” on each Letter of Credit to name and accepts and relies upon the applicable Borrower as the "Account Party" therein and, upon its applicable Lender's request, to deliver to its applicable Lender all instruments, documents and other writings and property received by the Issuing Lender or any other issuer of a Letter of Credit pursuant to the Letter of Credit, and to accept and rely upon its applicable Lender's Agent’s instructions and agreements with respect to all matters arising in connection with the such Letter of Credit or the application therefor. Notwithstanding any other term to the contrary, the Borrower shall, at all times, be the “Applicant” under all Letters of Credit and be responsible to pay all obligations owing under any Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Johnstone Tank Trucking Ltd.)

Account Party. Each The Borrower hereby authorizes and directs the ------------- any Issuing Lender or any other issuer of a Letter of Credit to name the applicable Borrower as the "Account Party" therein and, upon its applicable Lender's request, and to deliver to its applicable Lender the Collateral Agent all instruments, documents and other writings and property received by the such Issuing Lender or any other issuer of a Letter of Credit pursuant to the Letter of Credit, and to accept and rely upon its applicable Lenderthe Collateral Agent's instructions and agreements with respect to all matters arising in connection with the Letter of Credit or the application Application therefor.

Appears in 1 contract

Samples: Credit Agreement (Parker Drilling Co /De/)

Account Party. Each Borrower hereby authorizes and directs ------------- the ------------- Issuing Lender or any other issuer of a Letter of Credit to name the applicable Borrower as the "Account Party" therein and, upon its applicable LenderAgent's request, to deliver to its applicable Lender the Agent all instruments, documents and other writings and property received by the Issuing Lender or any other issuer of a Letter of Credit pursuant to the Letter of Credit, and to accept and rely upon its applicable Lenderthe Agent's instructions and agreements with respect to all matters arising in connection with the Letter of Credit or the application therefor.

Appears in 1 contract

Samples: Loan Agreement (Intertan Inc)

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Account Party. Each The Borrower hereby authorizes and directs the ------------- any Issuing Lender or any other issuer of a Letter of Credit to name the applicable Borrower as the "Account Party" therein and, upon its applicable Lender's request, and to deliver to its applicable Lender the Administrative Agent all instruments, documents and other writings and property received by the such Issuing Lender or any other issuer of a Letter of Credit pursuant to the Letter of Credit, and to accept and rely upon its applicable Lender's the Administrative Agent’s instructions and agreements with respect to all matters arising in connection with the Letter of Credit or the application Application therefor.

Appears in 1 contract

Samples: Credit Agreement (Parker Drilling Co /De/)

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