Australian Reliquification Bills Sample Clauses
The Australian Reliquification Bills clause outlines the procedures and obligations related to the re-liquefaction of natural gas in Australia, typically within the context of LNG (liquefied natural gas) contracts. This clause specifies when and how parties must process or convert regasified natural gas back into liquid form, often addressing operational requirements, cost allocation, and scheduling. By clearly defining these responsibilities, the clause ensures smooth coordination between parties and helps prevent disputes over the handling and costs of reliquification, thereby supporting efficient LNG supply chain management.
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Australian Reliquification Bills. Each Australian Borrowing Subsidiary (the "Applicable Subsidiary") agrees, with respect to Loans denominated in Australian Dollars made to it:
(a) To draw Bills when and in the form required by the Australian Agent on behalf of an Australian Tranche Lender. However, (i) the discounted value of those Bills, when added to the total of the discounted value of all other Bills drawn as required by the Australian Agent on behalf of the Australian Tranche Lender under this clause and which are outstanding, may not exceed the Australian Tranche Lender's Loans to which the Bills relate and (ii) no ▇▇▇▇ is to be drawn which would mature after the Maturity Date.
(b) The Applicable Subsidiary irrevocably appoints each Australian Tranche Lender and each authorized officer of each Australian Tranche Lender individually as its attorney to draw, accept or endorse the Bills and agrees to ratify all action taken by an attorney under this Section 2.07.
(c) The Applicable Subsidiary's obligation to draw Bills ceases, and the appointment of an Australian Tranche Lender and its authorized officers as attorney for this purpose is revoked, on payment by the Applicable Subsidiary to the Australian Agent of all amounts owing to that Australian Tranche Lender under this Agreement.
(d) Each Australian Tranche Lender unconditionally and irrevocably indemnifies the Applicable Subsidiary against liability or loss arising from, and any costs, charges and expenses (including stamp duty) incurred in connection with, any ▇▇▇▇ drawn at such Australian Tranche Lender's request under this Section 2.07.
Australian Reliquification Bills. MIC-AUS agrees, with respect to Loans denominated in Australian Dollars made to it:
(a) To draw Bills when and in the form required by the Australian Agent on behalf of an Australian Revolving Tranche Lender. However, (i) the discounted value of those Bills, when added to the total of the discounted value of all other Bills drawn as required by the Australian Agent on behalf of the Australian Revolving Tranche Lender under this clause and which are outstanding, may not exceed the Australian Revolving Tranche Lender’s Loans to which the Bills relate and (ii) no ▇▇▇▇ is to be drawn which would mature after the Maturity Date.
(b) MIC-AUS irrevocably appoints each Australian Revolving Tranche Lender and each authorized officer of each Australian Revolving Tranche Lender individually as its attorney to draw, accept or endorse the Bills and agrees to ratify all action taken by an attorney under this Section.