Common use of Advances Due on Demand Clause in Contracts

Advances Due on Demand. If, pursuant to Clause 19.17 (Acceleration and Cancellation), the Agent declares the Advances to be due and payable on demand of the Agent, then, and at any time thereafter, the Agent may (and, if so instructed by an Instructing Group, shall) by written notice to the Borrower: 19.18.1 require repayment of the Advances on such date as it may specify in such notice (whereupon the same shall become due and payable on such date together with accrued interest thereon and any other sums then owed by the Borrower hereunder) or withdraw its declaration with effect from such date as it may specify in such notice; 19.18.2 select as the duration of any Interest Period which begins whilst such declaration remains in effect a period of six months or less; and/or. 19.18.3 exercise or direct the Security Trustee to exercise (on its own behalf and on behalf of the Banks) all rights and remedies of a secured party in accordance 81 83 with sub-clause 19.17.3 of Clause 19.17 (Acceleration and Cancellation).

Advances Due on Demand. If, pursuant to Clause 19.17 19.16 (Acceleration and Cancellation), the Agent declares the Advances to be due and payable on demand of the Agent, then, and at any time thereafter, the Agent may (and, if so instructed by an Instructing Group, shall) by written notice to the Borrower: 19.18.1 19.17.1 require repayment of the Advances on such date as it may specify in such notice (whereupon the same shall become due and payable on such date together with accrued interest thereon and any other sums then owed by the Borrower hereunder) or withdraw its declaration with effect from such date as it may specify in such notice; 19.18.2 19.17.2 select as the duration of any Interest Period which begins whilst such declaration remains in effect a period of six months or less; and/or. 19.18.3 19.17.3 exercise or direct the Security Trustee to exercise (on its own behalf and on behalf of the Banks) all rights and remedies of a secured party in accordance 81 83 with sub-clause 19.17.3 19.16.3 of Clause 19.17 19.16 (Acceleration and Cancellation).

Advances Due on Demand. If, pursuant to Clause 19.17 24.18 (Acceleration and Cancellation), the Agent declares the Advances to be due and payable on demand of the Agent, then, and at any time 147 thereafter, the Agent may (and, if so instructed by an Instructing Group, shall) by written notice to the BorrowerParent: 19.18.1 24.19.1 require repayment of the Advances on such date as it may specify in such notice (whereupon the same shall become due and payable on such date together with accrued interest thereon and any other sums then owed by the Borrower Borrowers hereunder) or withdraw its declaration with effect from such date as it may specify in such notice;; and/or 19.18.2 24.19.2 select as the duration of any Term or Interest Period which begins whilst such declaration remains in effect a period of six months or less; and/or. 19.18.3 24.19.3 exercise or direct both the Security Trustee and the Second Security Trustee (but not only one of them) to exercise (on its own behalf and on behalf of the BanksBanks who have appointed it) all rights and remedies of a mortgagee or a secured party in accordance 81 83 with sub-clause 19.17.3 24.18.3 of Clause 19.17 24.18 (Acceleration and Cancellation).