Common use of Authorisation of Agent Clause in Contracts

Authorisation of Agent. The Borrower authorises the Agent (on behalf of the Lenders) to debit and, to the extent necessary, to liquidate any Permitted Investments previously purchased with any funds standing to the credit of the relevant account: (i) the Proceeds Account with all amounts referred to in Clause 9.4.3(a)(ii) (but only regarding the payment of fees in relation to the State Guarantee) and Clause 9.4.3(a)(iv) to 9.4.3(a)(vii) inclusive when due; and (ii) if the funds in the Proceeds Account are not sufficient to pay any amounts set out in Clause 9.4.3(a)(iv) to 9.4.3(a)(vii) inclusive, to debit the Equity Reserve Account and then the Debt Service Reserve Account with any such amount, and to apply any amount so debited in payment of the relevant amounts.

Authorisation of Agent. The Borrower authorises the Agent (on behalf of the Lenders) to debit and, to the extent necessary, to liquidate any Permitted Investments previously purchased with any funds standing to the credit of the relevant account: (i) the Proceeds Account with all amounts referred to in Clause 9.4.3(a)(ii9.4.3 (ii) (but only regarding the payment of fees in relation to the State Guarantee or the Blue Mill State Guarantee) and Clause 9.4.3(a)(iv) to 9.4.3(a)(vii9.4.3(a)(v) inclusive when due; and (ii) if the funds in the Proceeds Account are not sufficient to pay any amounts set out in Clause 9.4.3(a)(iv) to 9.4.3(a)(vii9.4.3(a)(v) inclusive, to debit the Equity Reserve Account and then the Debt Service Reserve Account with any such amount, and to apply any amount so debited in payment of the relevant amounts.

Authorisation of Agent. The Borrower authorises the Agent (on behalf of the Lenders) to debit and, to the extent necessary, to liquidate any Permitted Investments previously purchased with any funds standing to the credit of the relevant account: (i) the Proceeds Account with all amounts referred to in Clause 9.4.3(a)(ii9.4.3 (a) (ii) (but only regarding the payment of fees in relation to the State Guarantee) and Clause 9.4.3(a)(iv9.4.3 (a) (iv) to 9.4.3(a)(vii9.4.3 (a) (vii) inclusive when due; and (ii) if the funds in the Proceeds Account are not sufficient to pay any amounts set out in Clause 9.4.3(a)(iv9.4.3 (a) (iv) to 9.4.3(a)(vii9.4.3 (a) (vii) inclusive, to debit the Equity Reserve Account and then the Debt Service Reserve Account with any such amount, and to apply any amount so debited in payment of the relevant amounts.