No Obligation to Issue Clause Samples
The "No Obligation to Issue" clause establishes that a party, typically a lender or insurer, is not required to provide a loan, policy, or other financial product simply because negotiations have occurred or documents have been prepared. In practice, this means that even after discussions or preliminary approvals, the party retains full discretion to decide whether or not to proceed with issuance, regardless of the applicant's expectations. This clause serves to protect the issuing party from being legally compelled to finalize an agreement, thereby managing risk and maintaining flexibility in decision-making.
POPULAR SAMPLE Copied 3 times
No Obligation to Issue. The Issuing Bank shall not at any time be obligated to issue any Facility Letter of Credit if such issuance would conflict with, or cause the Issuing Bank or any other Bank, to exceed any limits imposed by any applicable law, rule or regulation.
No Obligation to Issue. Sydney Water has no obligation to issue any Work Order to the Contractor and the Contractor has no right to make any claim for loss of profit or contract or any other losses resulting from any failure by Sydney Water to issue any Work Order.
No Obligation to Issue. The Issuing Lender shall be under no obligation to issue any Letter of Credit if:
(i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the Issuing Lender from issuing such Letter of Credit, or any Requirement of Law applicable to the Issuing Lender or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Lender shall prohibit, or request that the Issuing Lender refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the Issuing Lender with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Issuing Lender is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the Issuing Lender any unreimbursable loss, cost or expense which was not applicable on the Closing Date and which the Issuing Lender in good ▇▇▇▇▇ ▇▇▇▇▇ material to it; or
(ii) the issuance of such Letter of Credit would violate one or more policies of the Issuing Lender.
No Obligation to Issue. 45 4.11 Obligations of Issuing Bank and Other Banks....................................................45
No Obligation to Issue. The L/C Issuer shall not be under any obligation to issue any Letter of Credit if: (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing the Letter of Credit, or any Applicable Law or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the L/C Issuer with respect to the Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Original Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Original Closing Date and which the L/C Issuer in good ▇▇▇▇▇ ▇▇▇▇▇ material to it; or (ii) the issuance of the Letter of Credit would violate one or more policies of the L/C Issuer applicable to letters of credit generally. Notwithstanding anything to the contrary contained in this Section 2.7 or elsewhere in this Agreement, in the event that a Lender with a Guarantee Credit Commitment is a Defaulting Lender, until such time as the L/C Issuer has entered into arrangements satisfactory to it and the Borrower to eliminate the L/C Issuer's risk with respect to the participation in Letters of Credit by all such Defaulting Lenders, including by cash collateralizing each such Defaulting Lender's Participating Interest, the L/C Issuer shall not be required to issue, amend or renew any Letter of Credit to the extent that the sum of the aggregate principal amount of L/C Obligations (including L/C Obligations in respect of such Letter of Credit) outstanding at such time exceeds the Guarantee Credit Limit in effect at such time less such Defaulting Lender's Guarantee Credit Commitment.
No Obligation to Issue. No member of the Target Group nor SPT is under any obligation to issue, and has not granted any person the right to call for the issue, of any shares or other securities of the Target Group or SPT at any time.