Common use of Account Party Clause in Contracts

Account Party. Each Borrower hereby authorizes and directs ------------- the Issuing Lender to name the applicable Borrower as the "Account Party" therein and, upon Agent's request, to deliver to the Agent all instruments, documents and other writings and property received by the Issuing Lender pursuant to the Letter of Credit, and to accept and rely upon the 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

Sources: Loan Agreement (Intertan Inc)

Account Party. Each The Borrower hereby authorizes and directs ------------- the any Issuing Lender to name the applicable Borrower as the "Account Party" therein and, upon Agent's request, and to deliver to the Collateral Agent all instruments, documents and other writings and property received by the such Issuing Lender pursuant to the Letter of Credit, and to accept and rely upon the 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

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

Account Party. Each Borrower hereby authorizes and directs the ------------- the Issuing Lender or any other issuer of a Letter of Credit to name the applicable Borrower as the "Account Party" therein and, upon Agentits applicable Lender's request, to deliver to the Agent 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 the Agentits 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

Sources: Loan Agreement (Grand Toys International Inc)