Common use of Application of credit balances Clause in Contracts

Application of credit balances. Each Creditor Party may without prior notice to the Borrower but with prior notice to the Agent: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may without prior notice to but following the Borrower but with prior notice to the Agentoccurrence of an Event of Default which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; andand/or (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may without prior notice to the Borrower Borrowers but with prior notice to the Agent: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the a Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the that Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the that Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may following the occurrence of an Event of Default and without prior notice to the Borrower but with prior notice to the Agentnotice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may may, following the occurrence of an Event of Default which is continuing, without prior notice to the Borrower but with prior notice to the Agentnotice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may without prior notice to following the Borrower but with prior notice to the Agentoccurrence of an Event of Default: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Upon the occurrence and during the continuance of an Event of Default, each Creditor Party may without prior notice to the Borrower but with prior notice to the Agentnotice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may may, upon the occurrence and during the continuance of an Event of Default, without prior notice to the Borrower but with prior notice to the Agentnotice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may without prior notice to following the Borrower but with prior notice to the Agentoccurrence of an Event of Default which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower Guarantor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Guarantor to that Creditor Party under any of the Finance Documentsthis Guarantee; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the BorrowerGuarantor; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may at any time whilst an Event of Default is continuing and without prior notice to the Borrower but with prior notice to the Agentnotice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower Guarantor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Guarantor to that Creditor Party under any of the Finance Documentsthis Guarantee; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the BorrowerGuarantor; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may without prior notice to the Borrower but with prior notice to the Agentnotice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower Corporate Guarantor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Corporate Guarantor to that Creditor Party under this Corporate Guarantee or any of the Finance Documentsother Corporate Guarantor’s Document; and (b) for that purpose: : (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; Corporate Guarantor; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

Application of credit balances. Each Creditor Party may without prior notice to the Borrower Borrowers but with prior notice to the Agent: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the a Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the that Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: : (i) break, or alter the maturity of, all or any part of a deposit of the that Borrower; ; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.