... Application and Agreement for Standby Letter of Credit FOR BANK USE ONLYL/C No.: CLS Authorized: TO: XXXX BANK Please issue an irrevocable Standby Letter of Credit as set forth below and forward ... is and shall remain duly authorized, executed, and delivered by us and our legal, valid, and bindingobligation, enforceable in accordance with its terms;(c) signing, delivering, and performing ... therewith at trial and on appeal, and (ii) then, to the payment or reduction of unrepaid drawings under the Letter ofCredit and interest accrued and unpaid thereon and to all other outstanding obligations....