Independence. The Borrower acknowledges that the rights and obligations of each Issuing Bank under each Letter of Credit issued by it are independent of the existence, performance or nonperformance of any contract or arrangement underlying such Letter of Credit, including contracts or arrangements between such Issuing Bank and the Borrower (other than the Credit Documents and the Issuer Documents) and between the Borrower and the relevant beneficiary.
Appears in 18 contracts
Sources: Credit Agreement (Mach Natural Resources Lp), Credit Agreement (Infinity Natural Resources, Inc.), Credit Agreement (Mach Natural Resources Lp)
Independence. The Borrower acknowledges that the rights and obligations of each the applicable Issuing Bank under each Letter of Credit issued by it are independent of the existence, performance or nonperformance of any contract or arrangement underlying such the Letter of Credit, including contracts or arrangements between such Issuing Bank and the Borrower (other than the Credit Documents and the Issuer Documents) and between the Borrower and the relevant beneficiarybeneficiary of the Letter of Credit.
Appears in 5 contracts
Sources: Revolving Credit Agreement, Amendment Agreement (Marathon Petroleum Corp), Credit Agreement (Marathon Petroleum Corp)
Independence. The Borrower acknowledges that the rights and obligations of each the applicable Issuing Bank under each Letter of Credit issued by it are independent of the existence, performance or nonperformance of any contract or arrangement underlying such Letter of Credit, including contracts or arrangements between such Issuing Bank and the Borrower (other than the Credit Documents and the Issuer Documents) and between the Borrower and the relevant beneficiarybeneficiary of such Letter of Credit.
Appears in 4 contracts
Sources: Revolving Credit Agreement (Marathon Petroleum Corp), Revolving Credit Agreement (MPLX Lp), Credit Agreement (MPLX Lp)
Independence. The Borrower acknowledges that the rights and obligations of each the Issuing Bank under each Letter of Credit issued by it are independent of the existence, performance or nonperformance of any contract or arrangement underlying such Letter of Credit, including contracts or arrangements between such the Issuing Bank and the Borrower (other than the Credit Documents and the Issuer Documents) and between the Borrower and the relevant beneficiarybeneficiary of such Letter of Credit.
Appears in 2 contracts
Sources: Credit Agreement (Five Star Senior Living Inc.), Credit Agreement (Five Star Quality Care, Inc.)
Independence. The Each Borrower acknowledges that the rights and obligations of each Issuing Bank under each Letter of Credit issued by it are is independent of the existence, performance or nonperformance of any contract or arrangement underlying such Letter of Credit, including contracts or arrangements between such any Issuing Bank and the any Borrower (other than the Credit Documents and the Issuer Documents) and between the such Borrower and the relevant beneficiary.
Appears in 1 contract
Sources: Credit Agreement (KKR & Co. L.P.)