Common use of ADVANCE OF SEGMENT Clause in Contracts

ADVANCE OF SEGMENT. (a) Subject to this Agreement, whenever Treasury NZ requests a Segment of the NZ$ Cash Advance Facility, BNZ will through its BNZ Lending Office make available that Segment to such account as may be notified to BNZ by Treasury NZ on the relevant Drawdown Date in Same Day Funds in NZ dollars. (a) Unless otherwise agreed, a request by Treasury NZ for a Segment of the NZ$ Cash Advance Facility may be made by telephone, shall be made prior to 11:00am (Auckland time) on the date on which the Segment is to be made available (which shall be a Business Day) and shall be followed as soon as practicable by a Drawdown Notice substantially in the form of Annexure C from Treasury NZ to BNZ. Any telephone request shall contain the details required in the Drawdown Notice and shall be irrevocable. (b) Unless otherwise agreed, the principal amount of each Segment of the NZ$ Cash Advance Facility shall be a minimum of: (i) NZ$ 5,000,000; or (ii) the NZ dollar equivalent (determined at the Exchange Rate as at the Drawdown Date) of the Undrawn Commitment (if less than NZ$ 5,000,000).

ADVANCE OF SEGMENT. (a) Subject to this Agreement, whenever Treasury NZ USA requests a Segment of the NZ$ US$ Cash Advance Facility, BNZ the Lender will through its BNZ US Lending Office make available that Segment to such account as may be notified to BNZ the Lender by Treasury NZ USA on the relevant Drawdown Date in Same Day Funds in NZ US dollars. (ab) Unless otherwise agreed, a request by Treasury NZ USA for a Segment of the NZ$ US$ Cash Advance Facility may be made by telephone, shall be made prior to 11:00am (Auckland New York time) on 3 Business Days before the date on which the Segment is to be made available (which shall be a Business Day) and shall be followed as soon as practicable by a Drawdown Notice substantially in the form of Annexure C A from Treasury NZ USA to BNZthe Lender. Any telephone request shall contain the details required in the Drawdown Notice and shall be irrevocable. (bc) Unless otherwise agreed, the principal amount of each Segment of the NZ$ US$ Cash Advance Facility shall be a minimum of: (i) NZ$ US$ 5,000,000; or (ii) the NZ US dollar equivalent (determined at the Exchange Rate as at the Drawdown Date) of the Undrawn Commitment (if less than NZ$ US$ 5,000,000).

ADVANCE OF SEGMENT. (a) Subject to this Agreement, whenever Treasury NZ USA requests a Segment of the NZ$ US$ Cash Advance Facility, BNZ Facility the Lender will (through its BNZ Lending Office in the United States of America) make available that Segment to such account as may be notified to BNZ the Lender by Treasury NZ USA on the relevant Drawdown Date in Same Day Funds in NZ US dollars. (ab) Unless otherwise agreed, a request by Treasury NZ USA for a Segment of the NZ$ US$ Cash Advance Facility may be made by telephone, shall be made prior to 11:00am 10.00 a.m. (Auckland New York City time) on the date on which the relevant Segment is to be made available (which shall be a Business Day) and shall be followed as soon as practicable by a Drawdown Notice substantially in the form of Annexure C from Treasury NZ USA to BNZthe Lender. Any telephone request Telephone Request shall contain the details required in the Drawdown Notice and shall be irrevocable. (bc) Unless otherwise agreed, the The principal amount of each Segment of the NZ$ US$ Cash Advance Facility shall be a minimum of: (i) NZ$ US$5,000,000; or; (ii) the NZ US dollar equivalent (determined at the Exchange Rate as at the Drawdown Date) of the Undrawn Commitment (if less than NZ$ US$5,000,000); or (iii) such other amount as the Lender may agree, and shall be a multiple of US$5,000,000 and shall not cause a breach of Clause 2.

ADVANCE OF SEGMENT. (a) Subject to this Agreement, whenever Treasury NZ UK requests a Segment of the NZ$ Sterling Cash Advance Facility, BNZ the Lender will (through its BNZ Lending Office in the United Kingdom) make available that Segment to such account as may be notified to BNZ the Lender by Treasury NZ UK on the relevant Drawdown Date in Same Day Funds in NZ dollarsSterling. (ab) Unless otherwise agreed, a request by Treasury NZ UK for a Segment of the NZ$ Sterling Cash Advance Facility may be made by telephone, shall be made prior to 11:00am 10.00 a.m. (Auckland London time) on the date on which the relevant Segment is to be made available (which shall be a Business Day) and shall be followed as soon as practicable by a Drawdown Notice substantially in the form of Annexure C A from Treasury NZ UK to BNZthe Lender. Any telephone request Telephone Request shall contain the details required in the Drawdown Notice and shall be irrevocable. (bc) Unless otherwise agreed, the The principal amount of each Segment of the NZ$ Sterling Cash Advance Facility shall be a minimum of: (i) NZ$ 5,000,000[pound]2,000,000; or (ii) the NZ dollar Sterling equivalent (determined at the Exchange Rate as at the Drawdown Date) of the Undrawn Commitment (if less than NZ$ 5,000,000[pound]2,000,000); or (iii) such other amount as the Lender may agree, and shall be a multiple of [pound]1,000,000 and shall not cause a breach of Clause 2.