Common use of Acceptance of Bills Clause in Contracts

Acceptance of Bills. (a) The Agent shall, not later than 11.00 a.m. on the proposed Utilisation Date, deliver to each Bank Bills completed in accordance with Clause 7.1 (Holding and completion of Bills). (b) Each Bank shall accept the Bills delivered to it in accordance with paragraph (a) above by the proposed Utilisation Date. (c) The Agent shall, not later than 11. 30 a. m. on the proposed Utilisation Date, notify the Parent and each Bank of the applicable EBDR. (d) Subject to the terms of this Agreement, each Bank shall pay to the Agent for the relevant Obligor an amount equal to: (i) the amount which the Bank would have received as the proceeds of discounting if it had discounted the Bills accepted by it at the applicable EBDR; less -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- (ii) commission calculated at the Acceptance Commission Rate on the aggregate principal amount of those Bills.

Acceptance of Bills. (a) The Facility Agent shall, not later than 11.00 10.30 a.m. on the proposed Utilisation Date, deliver to each Bank Bills completed in accordance with Clause 7.1 (Holding and completion of Bills)6.9. (b) Each Bank shall accept the Bills delivered to it in accordance with paragraph (a) above by the proposed Utilisation Dateabove. (c) The Facility Agent shall, not later than 11. 30 a. m. on the proposed Utilisation Date, notify the Parent relevant Borrower and each Bank (except a Bank to which Clause 6.7 applies) of the applicable EBDR. (d) Subject to the terms of this Agreement, each Bank shall pay to the Facility Agent for value on the Utilisation Date for the relevant Obligor Borrower an amount equal to: (i) the amount which the Bank would have received as the proceeds of discounting if it had discounted the Bills accepted by it at the applicable EBDR; less -------------------------------------------------------------------------------- --------------------------------------------------------------------------------less (ii) acceptance commission calculated at the Acceptance Commission Rate rate of the then applicable Margin on the aggregate principal amount of those BillsBills for the Interest Period relative thereto.