Common use of Discount of Acceptances Clause in Contracts

Discount of Acceptances. The Bank agrees to discount any Acceptance that is created and presented to it for discount at a rate quoted by the Bank at the time the Acceptance is presented to the Bank for discount and for a similar dollar amount and a similar maturity as the Draft being presented to the Bank by the Borrower for acceptance (the "Acceptance Discount Rate"). On the date any such Acceptance is presented for discount, the Bank shall: (i) cause the aggregate discounted amount (less any Commission then payable by the Borrowers to the Bank hereunder) to be made available to the Borrowers by crediting such amount to any Borrower's demand deposit account maintained with the Bank, unless the Acceptance is created by a beneficiary under a Letter of Credit, in which event the Bank will cause the amount to be paid to such beneficiary and will notify the Borrowers as to the creation of the Acceptance; and (ii) advise the Borrowers of the Acceptance Discount Rate at which the Bank discounted such Acceptance. The Bank shall have the right, in its sole discretion, to sell, rediscount, hold or otherwise deal with or dispose of any such Acceptance discounted by it.

Discount of Acceptances. The Bank agrees to discount any Acceptance that is created and presented to it for discount at a rate quoted by the Bank at the time the Acceptance is presented to the Bank for discount and for a similar dollar amount and a similar maturity as the Draft being presented to the Bank by the Borrower for acceptance (the "Acceptance Discount Rate"). On the date any such Acceptance is presented for discount, the Bank shall: (i) cause the aggregate discounted amount (less any Commission then payable by the Borrowers Borrower to the Bank hereunder) to be made available to the Borrowers Borrower by crediting such amount to any the Borrower's demand deposit account maintained with the Bank, unless the Acceptance is created by a beneficiary under a Letter of Credit, in which event the Bank will cause the amount to be paid to such beneficiary and will notify the Borrowers Borrower as to the creation of the Acceptance; and (ii) advise the Borrowers Borrower of the Acceptance Discount Rate at which the Bank discounted such Acceptance. The Bank shall have the right, in its sole discretion, to sell, rediscount, hold or otherwise deal with or dispose of any such Acceptance discounted by it.

Discount of Acceptances. The Bank agrees to discount any Acceptance that is created and presented to it the Bank for discount at a rate quoted by the Bank at the time the Acceptance is presented to the Bank for discount and for a similar dollar amount and a similar maturity as the Draft being presented to the Bank by the Borrower for acceptance (the "Acceptance Discount Rate"). On the date any such Acceptance is presented for discount, the Bank shall: (i) cause the aggregate discounted amount (less any Commission then payable by the Borrowers to the Bank hereunder) to be made available to the Borrowers by crediting such amount to any Borrower's demand deposit account maintained with the Bank, unless the Acceptance is created by a beneficiary under a Letter of Credit, in which event the Bank will cause the amount to be paid to such beneficiary and will notify the Borrowers as to the creation of the Acceptance; and (ii) advise the Borrowers of the Acceptance Discount Rate at which the Bank discounted such Acceptance. The Bank shall have the right, in its sole discretion, to sell, rediscount, hold or otherwise deal with or dispose of any such Acceptance discounted by it.

Discount of Acceptances. The If the Loan Term Sheet provides for the discount of Banker’s Acceptances, Bank agrees to discount any Acceptance acceptance that is created and presented to it for discount at a rate quoted by the Bank at the time the Acceptance acceptance is presented to the Bank for discount and for a similar dollar amount and a similar maturity as the Draft draft being presented to the Bank by the Borrower for acceptance (the "“Acceptance Discount Rate"”). On the date any such Acceptance acceptance is presented for discount, the Bank shall: (ia) cause the aggregate discounted amount (less any Commission commission then payable by the Borrowers Borrower to the Bank hereunderunder this Agreement) to be made available to the Borrowers Borrower by crediting such amount to any Borrower's ’s demand deposit account maintained with the Bank, unless the Acceptance acceptance is created by a beneficiary under a Letter of Credit, in which event the Bank will cause the amount to be paid to such beneficiary and will notify the Borrowers Borrower as to the creation of the Acceptanceacceptance; and (iib) advise the Borrowers Borrower of the Acceptance Discount Rate at which the Bank discounted such Acceptanceacceptance. The Bank shall have the right, in its sole discretion, to sell, rediscount, hold hold, or otherwise deal with or dispose of any such Acceptance acceptance discounted by it.