Common use of Application of credit balances Clause in Contracts

Application of credit balances. Upon the occurrence and during the continuance of an Event of Default, each Creditor Party may without prior notice: (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 or any of the Guarantors at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower or any of the Guarantors 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 or any Guarantor; (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. Upon the occurrence and during the continuance of an Event of Default, each Each Creditor Party may without prior noticenotice at any time after the occurrence 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 Account in the name of the Borrower or any of and/or the Guarantors Guarantor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower or any of and/or the Guarantors Guarantor 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 or any and/or the Guarantor; (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. Upon the occurrence and during the continuance of an Event of Default, each Creditor Party may without prior notice: (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 or any of the Guarantors at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower Borrowers or any of the Guarantors 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 or any Guarantor; (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. Upon the occurrence and during the continuance of an Event of Default, each Creditor Party may without prior notice: (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 or any of the Guarantors Borrowers or the Guarantor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower or any of the Guarantors Borrowers or the Guarantor 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 Borrower Borrowers or any the Guarantor; (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. Upon the occurrence and during the continuance of an Event of Default, and subject to the Intercreditor Agreement, each Creditor Party may without prior notice: (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 or any of the Guarantors at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower or any of the Guarantors 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 or any Guarantor; (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. Upon the occurrence and during the continuance of an Event of Default, each Each Creditor Party may without prior noticenotice at any time after the occurrence 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 Account in the name of the Borrower or any of Borrowers and/or the Guarantors Guarantor at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower or any of Borrowers and/or the Guarantors Guarantor 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 or any Borrowers and/or the Guarantor; (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.