Common use of Application of credit balances Clause in Contracts

Application of credit balances. Each Creditor Party may without prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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; (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: (a) upon notice following the occurrence of an Event of Default or Potential 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 any Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Borrowers 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 any Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (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, at any time after the occurrence of an Event of Default which is continuing, without prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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; (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 an Event of Default and whilst the same is continuing unremedied or unwaived without prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of any of the Borrower Borrowers at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from any of the Borrower Borrowers 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 any of the BorrowerBorrowers; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (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, after the occurrence of an Event of Default which is continuing, without prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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: (a) upon the occurrence of an Event of Default or Potential Event of Default 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; andand Index (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 Following the occurrence of and during the continuance of an Event of Default, each Creditor Party may without prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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; (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: (a) upon the occurrence of an Event of Default or Potential Event of Default 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 Borrowers at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Borrowers 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 BorrowerBorrowers; (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: (a) upon the occurrence of an Event of Default or Potential Event of Default apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the any Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Borrowers 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 any 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: (a) upon notice at any time after the occurrence of an Event of Default or Potential 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 Borrowers at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Borrowers 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 BorrowerBorrowers; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (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, at any time after the occurrence of an Event of Default which is continuing, without prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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 an Obligor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower that Obligor 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 Borrowerthat Obligor; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (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 may, following an Event of Default which is continuing, and with prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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; (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 with prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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 this Guarantee to the Finance Documentsextent that such sum has not been paid on its due date for payment by the Guarantor; 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; (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: (a) upon notice at any time after the occurrence of an Event of Default or Potential 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; ; (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 may, following an Event of Default which is continuing, and with prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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:: 62 (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; (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, after the occurrence of an Event of Default which is continuing, without prior notice: (a) upon the occurrence of an Event of Default or Potential Event of Default 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 either Obligor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Obligors 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 Borrowereach Obligor; (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 reasonably considers appropriate.