Application of retentions. Until an Event of Default occurs, the Agent shall on each due date for the payment of interest under this Agreement distribute to the Lenders in accordance with Clause 16.4 so much of the then balance on the Retention Account as equals:
(a) any repayment instalment due in accordance with Clause 8.1 on that interest payment date; and
(b) the amount of interest payable on that interest payment date in discharge of the Borrower's liability for that repayment instalment or that interest.
Application of retentions. Until an Event of Default or a Potential Event of Default occurs, the Agent shall, to the extent there are sufficient funds standing to the credit of the Retention Account, on each Repayment Date and on each due date for the payment of interest under this Agreement distribute to the Lenders in accordance with Clause 16.4 so much of the then balance on the Retention Account as equals:
(a) the Instalment due on that Repayment Date pursuant to Clause 8.1; or
(b) the amount of interest in respect of the Loan payable on that interest payment date, in discharge of the Borrowers’ liability for that Instalment or that interest.
Application of retentions. Until an Event of Default or a Potential Event of Default occurs, the Lender shall on each Repayment Date and on each due date for the payment of interest under this Agreement apply in accordance with Clause 15.1 so much of the balance on the Retention Account as equals:
(a) the repayment instalment due on that Repayment Date; or
(b) the amount of interest payable on that interest payment date, in discharge of the Borrowers' liability for that repayment instalment or that interest.
Application of retentions. Until an Event of Default or a Potential Event of Default occurs, the Account Bank shall on each Repayment Date and on each due date for the payment of interest under this Agreement pay to the Agent, for the Agent to distribute to the Lenders in accordance with Clause 16.4 so much of the then balance on the Retention Account as equals:
(a) the repayment instalment due on that Repayment Date; or, as the case may be,
(b) the amount of interest payable on that interest payment date in discharge of the Borrower’s liability for that repayment instalment or that interest.
Application of retentions. Until an Event of Default or a Potential Event of Default occurs, the Agent shall, to the extent there are sufficient funds standing to the credit of the Retention Account, on each Repayment Date in respect of an Advance and on each due date for the payment of interest in respect of that Advance under this Agreement distribute to the Lenders in accordance with Clause 16.4 so much of the then balance on the Retention Account as equals:
(a) the Instalment in respect of the relevant Advance due on that Repayment Date pursuant to Clause 8.1; or
(b) the amount of interest in respect of the relevant Advance payable on that interest payment date, in discharge of the Borrower’s liability for that Instalment or that interest.
Application of retentions. Until an Event of Default or a Potential Event of Default occurs, the Lender shall on each Repayment Date and on each due date for the payment of interest under this Agreement apply in accordance with Clause 15.1 so much of the balance on the relevant Retention Account as equals:
(a) the repayment instalment due on that Repayment Date; or
(b) the amount of interest payable on that interest payment date; in discharge of the Borrowers’ liability for that repayment instalment or that interest.
Application of retentions. The Lender shall on each Repayment Date and on each due date for the payment of interest under this Agreement apply in accordance with Clause 15.1 so much of the balance on the Retention Account as equals:
(a) the repayment instalment due on that Repayment Date; or
(b) the amount of interest payable on that interest payment date, in discharge of the Borrowers’ liability for that repayment instalment or that interest.
Application of retentions. Until an Event of Default or a Potential Event of Default occurs, the Agent shall, to the extent there are sufficient funds standing to the credit of the Retention Account, on each Repayment Date and on each due date for the payment of interest under this Agreement distribute to the Lenders in accordance with Clause 16.4 (Distribution of payments to Creditor Parties) so much of the then balance on the Retention Account as equals:
(a) the Repayment Instalment due on that Repayment Date pursuant to Clause 8.1 (Amount of repayment instalments); or
(b) the amount of interest in respect of the Loan payable on that Interest Payment Date, in discharge of the Borrowers’ liability for that Repayment Instalment or that interest.
Application of retentions. (a) The Security Agent has sole signing rights in relation to the Retention Account.
(b) Until an Event of Default occurs, the Facility Agent shall instruct the Security Agent to release to it, on each Repayment Date and on each Interest Payment Date, for distribution to the Finance Parties in accordance with Clause 35.2 (Distributions by the Facility Agent) so much of the then balance on the Retention Account as equals:
(i) the Repayment Instalment due on that Repayment Date; and
(ii) the amount of interest payable on that Interest Payment Date, in discharge of the Borrowers' liability for that Repayment Instalment or that interest as the case may be.
Application of retentions. Upon the occurrence of a Default, the Lender shall be entitled to request from the Borrower to, and the Borrower to procure that each Corporate Guarantor will, provide sufficient funds standing to the credit of the Retention Account, on each Repayment Date and on each due date for the payment of interest under this Agreement distribute to the Lender so much of the then balance on the Retention Account as equals:
(a) the Instalment in respect of the relevant Instalment due on that Repayment Date pursuant to Clause 8.1 (Amount of Instalments); or
(b) the amount of interest in respect of the relevant Instalment payable on that interest payment date, in discharge of the Borrower’s liability for that Instalment or that interest.
