Common use of Credit for Amount Paid on Bonds Clause in Contracts

Credit for Amount Paid on Bonds. The Company ------------------------------- shall receive a credit against its payment obligations pursuant to Section 1.02(a) (ii) to the extent of any amounts actually paid to the Bank in respect of any principal or interest due on any Pledged Bonds.

Appears in 1 contract

Samples: Loan Agreement (Amax Gold Inc)

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Credit for Amount Paid on Bonds. The Company ------------------------------- shall (i) receive a credit against its payment obligations the obligation to pay interest pursuant to Section 1.02(aclause (2) (iiof Paragraph 3A(i) above to the extent of any amounts actually paid by the Issuer to the Bank in respect of the interest due on any Pledged Bonds and (ii) receive a credit against its reimbursement obligation pursuant to clause (1) of Paragraph 3A(i) above to the extent of any amounts actually paid by the Issuer to the Bank in respect of the principal or interest due on any Pledged Bonds.

Appears in 1 contract

Samples: Letter of Credit Agreement (Exactech Inc)

Credit for Amount Paid on Bonds. The Company ------------------------------- shall (a) receive a credit against its payment obligations the obligation to pay interest pursuant to Section 1.02(a2.1(a)(ii) (ii) above to the extent of any amounts actually paid by the Issuer to the Bank in respect of the interest due on any Pledged Bonds and (b) receive a credit against their reimbursement obligation pursuant to Section 2.1 (a) (i) above to the extent of any amounts actually paid by the Issuer to the Bank in respect of the principal or interest due on any Pledged Bonds.

Appears in 1 contract

Samples: Letter of Credit Agreement (Potlatch Corp)

Credit for Amount Paid on Bonds. The Company ------------------------------- shall (a) receive a credit against its payment obligations the obligation to pay interest pursuant to Section 1.02(a3.1(a)(ii) (ii) above to the extent of any amounts actually paid by the Issuer from funds of the Company to the Bank in respect of the interest due on any Pledged Bonds and (b) receive a credit against its reimbursement obligation pursuant to Section 3.1 (a) (i) above to the extent of any amounts actually paid by the Issuer from funds of the Company to the Bank in respect of the principal or interest due on any Pledged Bonds.

Appears in 1 contract

Samples: Letter of Credit Agreement (Bovie Medical Corp)

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Credit for Amount Paid on Bonds. The Company ------------------------------- shall (i) receive a credit against its payment obligations the obligation to pay interest pursuant to Section 1.02(a) (ii) Paragraph 3A above to the extent of any amounts actually paid by or on behalf of the Company or the Issuer to the Bank in respect of the interest due on any Pledged Bonds and (ii) receive a credit against its reimbursement obligation pursuant to paragraph 3A above to the extent of any amounts actually paid by or on behalf of the Company or the Issuer to the Bank in respect of the principal or interest due on any Pledged Bonds.

Appears in 1 contract

Samples: Letter of Credit Agreement (Flanders Corp)

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