Common use of Amount and Purpose of the Credits Clause in Contracts

Amount and Purpose of the Credits. 2.1 The Lenders grant to the Borrower a credit in an aggregate amount of up to: USD 75,748,000.00 (in words: United States Dollars seventy five million seven hundred forty eight thousand) (“Credit A”) With reference to the Additional Export Contract, and subject to the agreement of Hermes, the Lenders may elect in their absolute and free discretion to grant to the Borrower upon its written request a further credit in an aggregate amount of up to: USD 36,514,000.00 (in words: United States Dollars thirty six million five hundred fourteen thousand) (“Credit B”) It is hereby agreed and understood by the Borrower and the Lenders that the Lenders, by entering into this Credit Agreement, do not assume any commitment to grant Credit B but that the granting of such Credit B is at their sole discretion and will only materialise upon the Lenders written approval. Credit A and Credit B shall hereinafter be referred to individually as a “Credit” or collectively as “Credits”.

Appears in 1 contract

Samples: Credit Agreement (Mobile Telesystems Ojsc)

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Amount and Purpose of the Credits. 2.1 The Lenders grant to the Borrower a credit in an aggregate amount of up to: USD 75,748,000.00 123,797,863 (in words: United States Dollars seventy five one hundred and twenty three million seven hundred forty and ninety seven thousand eight thousandhundred and sixty three) (“Credit A”) With reference to the Additional Export Contract, and subject to the agreement of Hermes, the Lenders may elect in their absolute and free discretion to grant to the Borrower upon its written request a further credit in an aggregate amount of up to: USD 36,514,000.00 17,311,827 (in words: United States Dollars thirty six seventeen million five three hundred fourteen thousandand eleven thousand eight hundred and twenty seven) (“Credit B”) It is hereby agreed and understood by the Borrower and the Lenders that the Lenders, by entering into this Credit Agreement, do not assume any commitment to grant Credit B but that the granting of such Credit B is at their sole discretion and will only materialise upon the Lenders written approval. Credit A and Credit B shall hereinafter be referred to individually as a “Credit” or collectively as “Credits”.

Appears in 1 contract

Samples: Credit Agreement (Mobile Telesystems Ojsc)

Amount and Purpose of the Credits. 2.1 The Lenders grant to the Borrower a credit in an aggregate amount of up to: USD 75,748,000.00 130,752,548 (in words: United States Dollars seventy five one hundred and thirty million seven hundred and fifty two thousand five hundred and forty eight thousandeight) (“Credit A”) With reference to the Additional Export Contract, and subject to the agreement of HermesEKN, the Lenders may elect in their absolute and free discretion to grant to the Borrower upon its written request a further credit in an aggregate amount of up to: USD 36,514,000.00 36,570,937 (in words: United States Dollars thirty six million million, five hundred fourteen and seventy thousand, nine hundred and thirty seven) (“Credit B”) It is hereby agreed and understood by the Borrower and the Lenders that the Lenders, by entering into this Credit Agreement, do not assume any commitment to grant Credit B but that the granting of such Credit B is at their sole discretion and will only materialise upon the Lenders written approval. Credit A and Credit B shall hereinafter be referred to individually as a “Credit” or collectively as “Credits”.

Appears in 1 contract

Samples: Credit Agreement (MTS Inc)

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Amount and Purpose of the Credits. 2.1 The Lenders grant to the Borrower a credit in an aggregate amount of up to: USD 75,748,000.00 125,725,500 (in words: United States Dollars seventy one hundred and twenty five million seven hundred forty eight thousandand twenty five thousand five hundred) (“Credit A”) With reference to the Additional Export Contract, and subject to the agreement of Hermes, the Lenders may elect in their absolute and free discretion to grant to the Borrower upon its written request a further credit in an aggregate amount of up to: USD 36,514,000.00 28,321,000 (in words: United States Dollars thirty six twenty eight million five three hundred fourteen and twenty one thousand) (“Credit B”) It is hereby agreed and understood by the Borrower and the Lenders that the Lenders, by entering into this Credit Agreement, do not assume any commitment to grant Credit B but that the granting of such Credit B is at their sole discretion and will only materialise upon the Lenders written approval. Credit A and Credit B shall hereinafter be referred to individually as a “Credit” or collectively as “Credits”.

Appears in 1 contract

Samples: Credit Agreement (MTS Inc)

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