Immediately payable. If a Letter of Credit or any amount outstanding under a Letter of Credit becomes payable and no claim (as defined in paragraph (a) of clause 8.3 (Claims under a Letter of Credit)) has been made in respect of that Letter of Credit or amount outstanding under that Letter of Credit, the Borrower that requested the issue of that Letter of Credit shall repay or prepay that amount immediately.
Appears in 1 contract
Immediately payable. If a Letter of Credit or any amount outstanding under a Letter of Credit becomes payable and no claim (as defined in paragraph (a) of clause 8.3 Clause 7.4 (Claims under a Letter of Credit)) has been made in respect of that Letter of Credit or amount outstanding under that Letter of Credit, the Borrower that requested the issue of that Letter of Credit shall repay or prepay that amount immediately.
Appears in 1 contract
Immediately payable. If a Letter of Credit or any amount outstanding under a Letter of Credit becomes is expressed to be immediately payable and no claim (as defined in paragraph (a) of clause 8.3 Clause 7.2 (Claims under a Letter of Credit)) has been made in respect of that Letter of Credit or amount outstanding under that Letter of Credit, the Borrower that requested (or on behalf of which the Obligors’ Agent requested) the issue of that Letter of Credit shall repay or prepay that amount immediately.
Appears in 1 contract
Sources: Senior Facilities Agreement (Fintrax US Acquisition Subsidiary, Inc.)
Immediately payable. If a Letter of Credit or any amount outstanding under a Letter of Credit becomes immediately payable and no claim (as defined in paragraph (a) of clause 8.3 (Claims under a Letter of Credit)) has been made in respect of that Letter of Credit or amount outstanding under that Letter of Creditthis Agreement, the Borrower that requested the issue of that Letter of Credit shall repay or prepay that the amount immediatelyon demand by the Issuing Bank in accordance with paragraph 6.2.
Appears in 1 contract
Sources: Multicurrency Letter of Credit Facility Agreement (Flagstone Reinsurance Holdings, S.A.)
Immediately payable. If a Letter of Credit or any amount outstanding under a Letter of Credit becomes payable and no claim (as defined in paragraph (a) of clause 8.3 Clause 7.3 (Claims under a Letter of Credit)) has been made in respect of that Letter of Credit or amount outstanding under that Letter of Credit, the Borrower that requested the issue of that Letter of Credit shall repay or prepay that amount immediately.
Appears in 1 contract