Common use of Issuances and Extensions Clause in Contracts

Issuances and Extensions. Subject to the terms and conditions of this Agreement and of any applicable Continuing Letter of Credit Agreement (but in the event of any direct and clear conflict between this Agreement and the Continuing Letter of Credit Agreement, this Agreement shall control), the Issuer shall issue Letters of Credit in accordance with the Issuance Requests made therefore. The Issuer will make available to Borrower (or, at Borrower's request, the beneficiary) the original of each Letter of Credit which it issues in accordance with the Issuance Request therefore. The Issuer shall not be liable to any Lender with respect to any Letter of Credit if, at the time of such issuance, it has not received from Borrower, Agent or any Lender notice that any condition for the issuance of such Letter of Credit has not been satisfied.