Common use of Use of Letters of Credit Clause in Contracts

Use of Letters of Credit. All Letters of Credit shall only be utilized to support Letter of Credit Supportable Obligations.

Appears in 4 contracts

Sources: Amendment No. 1 (Validus Holdings LTD), Five Year Secured Letter of Credit Facility Agreement (Validus Holdings LTD), Secured Letter of Credit Facility Agreement (Validus Holdings LTD)