Draws Under Letters of Credit. Request or receive any draws under any letters of credit pursuant to which the Borrower is the beneficiary without first making the same part of the Collateral secured hereunder pursuant to a direction to pay proceeds agreement or other instrument satisfactory to Ex-Im Bank in its sole discretion.
Appears in 2 contracts
Sources: Loan, Security and Guarantee Agreement (Ener-Core Inc.), Loan Agreement (Ener-Core Inc.)