Common use of Application of retentions Clause in Contracts

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. (a) 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: (ab) the Instalment due on that Repayment Date pursuant to Clause 8.1; or (bc) the amount of interest in respect of the Loan payable on that interest payment date, in discharge of the Borrowers’ 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 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’ 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 Agent shall, to the extent there are sufficient funds standing to the credit of the Retention Account, shall on each Repayment Date in respect of a Tranche 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 for that Tranche pursuant to Clause 8.1; or (b) the amount of interest in respect of the Loan that Tranche 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 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 Repayment 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’ 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 relevant Advance or, as the case may be, 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 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 in respect of the Loan 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’ 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 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 in respect of the Loan under this Agreement distribute to the Lenders in accordance with Clause 16.4 (a) 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’ Borrower's liability for that Instalment or that interest.