Common use of Application of cash collateral security Clause in Contracts

Application of cash collateral security. Subject always to the overriding provisions of Clause 18, moneys received by the Agent for the account of the Issuing Bank and the Lenders pursuant to Clause 32.7 shall be applied (as between the Borrower on the one hand and the Issuing Bank and the Lenders on the other) in the following manner: (a) firstly, in or towards payment of any Settlement Amount then due from the Borrower to the Lenders pursuant to Clause 31.2 and not reimbursed; (b) secondly, in payment to an account or accounts of the Agent for application from time to time by the Agent (and the Borrower hereby irrevocably authorises the Agent so to apply any such moneys) in or towards payment of, or reimbursement to the Issuing Bank for, any amount which the Issuing Bank shall or may at any time and from time to time thereafter pay or be or become liable to pay to the Beneficiary under or pursuant to or in connection with a Guarantee; and (c) thirdly, in or towards payment of all other sums which may be owing to the Issuing Bank and each Lender under or in connection with a Guarantee.

Application of cash collateral security. Subject always to the overriding provisions of Clause 1819, moneys received by the Agent for the account of the Issuing Bank and the Lenders Guarantee Issuer pursuant to Clause 32.7 12.6 shall be applied (as between the Borrower on the one hand and the Issuing Bank and the Lenders Guarantee Issuer on the other) in the following manner: (a) firstly, in or towards payment of any Settlement Amount then due from the Borrower to the Lenders Guarantee Issuer pursuant to Clause 31.2 11.2 and not reimbursed; (b) secondly, in payment to an account or accounts of the Agent for application from time to time by the Agent (and the Borrower hereby irrevocably authorises the Agent so to apply any such moneys) in or towards payment of, or reimbursement to the Issuing Bank Guarantee Issuer for, any amount which the Issuing Bank Guarantee Issuer shall or may at any time and from time to time thereafter pay or be or become liable to pay to the a Beneficiary under or pursuant to or in connection with a Guaranteethe Bank Guarantee (including any amount payable under Clause 12.8); and (c) thirdly, in or towards payment of all other sums which may be owing to the Issuing Bank and each Lender Guarantee Issuer under or in connection with a the Bank Guarantee.

Application of cash collateral security. Subject always to the overriding provisions of Clause 1822, moneys received by the Agent for the account of the Issuing Bank and the Lenders pursuant to Clause 32.7 12.7 shall be applied (as between the Borrower Borrowers on the one hand and the Issuing Bank and the Lenders on the other) in the following manner: (a) firstlyfirst, in or towards payment of any Settlement Amount then due from the Borrower Borrowers to the Lenders Issuing Bank pursuant to Clause 31.2 11.2 and not reimbursed; (b) secondly, in payment to an account or accounts of the Agent for application from time to time by the Agent (and the each Borrower hereby irrevocably authorises the Agent so to apply any such moneys) in or towards payment of, or reimbursement to the Issuing Bank for, any amount which the Issuing Bank shall or may at any time and from time to time thereafter pay or be or become liable to pay to the Beneficiary Seller under or pursuant to or in connection with a GuaranteeGuarantee (including any amount payable under Clause 12.9); and (c) thirdly, in or towards payment of all other sums which may be owing to the Issuing Bank and each Lender under or in connection with a Guarantee.

Application of cash collateral security. Subject always to the overriding provisions of Clause 1814, moneys received by the Agent for the account of the Issuing Bank and the Lenders Banks pursuant to Clause 32.7 6.7 shall be applied (as between the Borrower Obligors on the one hand and the Issuing Bank and the Lenders Banks on the other) in the following manner: (a) firstlyfirst, in or towards payment of any Settlement Amount then due from the Borrower Obligors to the Lenders Issuing Bank pursuant to Clause 31.2 5.2 and not reimbursed; (b) secondly, in payment to an account or accounts of the Agent for application from time to time by the Agent (and the Borrower each Obligor hereby irrevocably authorises the Agent so to apply any such moneys) in or towards payment of, or reimbursement to the Issuing Bank for, any amount which the Issuing Bank shall or may at any time and from time to time thereafter pay or be or become liable to pay to the Beneficiary under or pursuant to or in connection with a Guarantee; and (c) thirdly, in or towards payment of all other sums which may be owing to the Issuing Bank and each Lender Bank under or in connection with a Guarantee.