Common use of Designation of Subsidiaries as Account Parties Clause in Contracts

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, a Canadian Letter of Credit issued hereunder may contain a statement to the effect that such Canadian Letter of Credit is issued for the account of a Subsidiary of the Canadian Borrower; provided that notwithstanding such statement, the Canadian Borrower shall be the actual account party for all purposes of this Agreement for such Letter of Credit and such statement shall not affect the Canadian Borrower's reimbursement obligations hereunder with respect to such Letter of Credit.

Appears in 2 contracts

Sources: Credit Agreement (Shorewood Packaging Corp), Credit Agreement (Shorewood Packaging Corp)

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, including without limitation Section 3.04(a), a Canadian Letter of Credit issued hereunder may contain a statement to shall, upon the effect that such request of either Canadian Letter of Credit is Borrower, be issued for the account of a any Subsidiary of the such Canadian Borrower; , provided that notwithstanding such statementrequest, the applicable Canadian Borrower shall be the actual account party for all purposes of this Agreement for such Canadian Letter of Credit and such statement request shall not affect the applicable Canadian Borrower's ’s reimbursement obligations hereunder with respect to such Canadian Letter of Credit.

Appears in 2 contracts

Sources: Credit Agreement (Devon Energy Corp/De), Credit Agreement (Devon Energy Corp/De)

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, a Canadian Letter of Credit issued hereunder may contain a statement to the effect that such Canadian Letter of Credit is issued for the account of a Canadian Subsidiary of the Canadian BorrowerBorrowers; provided that notwithstanding such statement, the Canadian Borrower Borrowers shall be the actual account party parties for all purposes of this Agreement for such Letter of Credit and such statement shall not affect the Canadian Borrower's Borrowers' reimbursement obligations hereunder with respect to such Letter of Credit.

Appears in 2 contracts

Sources: Credit Agreement (Wolverine Tube Inc), Credit Agreement (Cott Corp /Cn/)

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, a Canadian Letter of Credit issued hereunder may contain a statement to the effect that such Canadian Letter of Credit is issued for the account of a Subsidiary of the Canadian Borrower; provided that notwithstanding such statement, the Canadian Borrower shall be the actual account party for all purposes of this Agreement for such Letter of Credit and such statement shall not affect the Canadian Borrower's reimbursement obligations hereunder with respect to such Letter of Credit.Canadian

Appears in 1 contract

Sources: Credit Agreement (Shorewood Packaging Corp)

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, including without limitation Section 3.04(a), a Canadian Letter of Credit issued hereunder may contain a statement to shall, upon the effect that such request of either Canadian Letter of Credit is Borrower, be issued for the account of a any Subsidiary of the such Canadian Borrower; , provided that notwithstanding such statementrequest, the applicable Canadian Borrower shall be the actual account party for all purposes of this Agreement for such Canadian Letter of Credit and such statement request shall not affect the applicable Canadian Borrower's reimbursement obligations hereunder with respect to such Canadian Letter of Credit.

Appears in 1 contract

Sources: Credit Agreement (Devon Energy Corp/De)

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, including without limitation Section 3.042.04(a), a Canadian Letter of Credit issued hereunder may contain a statement to shall, upon the effect that such request of the Canadian Letter of Credit is Borrower, be issued for the account of a any Subsidiary of the Canadian Borrower; , provided that notwithstanding such statementrequest, the Canadian Borrower shall be the actual account party for all purposes of this Agreement for such Canadian Letter of Credit Credit, and such statement request shall not affect the Canadian Borrower's ’s reimbursement obligations hereunder with respect to such Canadian Letter of Credit.

Appears in 1 contract

Sources: Credit Agreement (Devon Energy Corp/De)

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, including without limitation Section 3.04(a), a Canadian Letter of Credit issued hereunder may contain a statement to shall, upon the effect that such request of the Canadian Letter of Credit is Borrower, be issued for the account of a any Subsidiary of the Canadian Borrower; , provided that notwithstanding such statementrequest, the Canadian Borrower shall be the actual account party for all purposes of this Agreement for such Canadian Letter of Credit and such statement request shall not affect the Canadian Borrower's ’s reimbursement obligations hereunder with respect to such Canadian Letter of Credit.

Appears in 1 contract

Sources: Credit Agreement (Devon Energy Corp/De)

Designation of Subsidiaries as Account Parties. Notwithstanding anything to the contrary set forth in this Agreement, including without limitation Section 3.04(a), a Canadian Letter of Credit issued hereunder may contain a statement to shall, upon the effect that such request of either Canadian Letter of Credit is Borrower, be issued for the account of a any Subsidiary of the such Canadian Borrower; Borrower or any Subsidiary of Parent organized in Canada or a province thereof, provided that notwithstanding such statementrequest, the applicable Canadian Borrower shall be the actual account party for all purposes of this Agreement for such Canadian Letter of Credit and such statement request shall not affect the applicable Canadian Borrower's ’s reimbursement obligations hereunder with respect to such Canadian Letter of Credit.

Appears in 1 contract

Sources: Credit Agreement (Burlington Resources Inc)