I am confusing about the phase "for the account of". Please help look at the following sentences:
1. The charges for opening a Letter of credit ("L/C") should be for the account of the applicant.
In my opinion, "for the account of" here means the applicant will bear the charges.
2. The Company shall pay interest on the amount of its obligation to reimburse the Issuing Bank for each LC Disbursement at the rate of interest payable, for each day from and including the date that such obligation is due and payable to, but excluding, the date that the Company reimburses such LC Disbursement. Interest accrued pursuant to this clause shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Credit Lender shall be for the account of such Revolving Credit Lender to the extent of such payment
Here, to my knowledge, the Company pays interest to the Issuing Bank or any Revolving Credit Lender for its credit facilities. So here, "for the account of" seems to mean that something belongs to somebody, other than somebody bears something.
3. each Revolving Credit Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Revolving Credit Lender’s Applicable LC Percentage of each LC Disbursement made by the Issuing Bank in accordance with the terms of this Agreement promptly upon (and in any event not later than the Business Day following receipt of) the request of the Issuing Bank at any time from the time of such LC Disbursement until such LC Disbursement is reimbursed by the Company or at any time after any reimbursement payment is required to be refunded to the Company for any reason.
Here, the structure is "A pays to B for the account of C". My understanding is that A's money is obtained by C via B. Is that right?
So, it seems that this phrase has different meanings depending on the context. I want to know whether there is any rule regarding the use of this phrase.
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