Common use of Drawings and Reimbursement of Amounts Drawn Under Letters of Credit Clause in Contracts

Drawings and Reimbursement of Amounts Drawn Under Letters of Credit. A. Responsibility of Issuing Lender With Respect to Drawings. In determining whether to honor any drawing under any Letter of Credit by the beneficiary thereof, the Issuing Lender shall be responsible only to exercise reasonable care to determine that the documents required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit.

Drawings and Reimbursement of Amounts Drawn Under Letters of Credit. A. Responsibility of Issuing Lender With Respect to Drawings. In determining whether to honor any drawing under any Letter of Credit by the beneficiary thereof, the Issuing Lender shall be responsible only to exercise reasonable care to determine that examine the documents required to be delivered under such Letter of Credit have been delivered and that with reasonable care so as to ascertain whether they comply appear on their face to be in accordance with the requirements terms and conditions of such Letter of Credit.