Distribution of Inter-User Guarantee Sample Clauses

Distribution of Inter-User Guarantee. Amounts from the Trust Account (a) If, pursuant to clause 6.3, a right has arisen for Terminal Operator to draw on an Inter-User Guarantee, then Terminal Operator shall: draw on the Inter-User Guarantee of such Defaulting User in sufficient amounts to fulfil that Defaulting User’s payment obligations; promptly deposit such amount so drawn into the Trust Account; and subsequently draw from the Trust Account to pay: (A) to Terminal Operator, an amount equivalent to the cost of procuring Replacement LNG and/or Replacement Gas and any Failed LNG Cargo Terminal Operational Costs; and/or (B) to the relevant Impacted User(s) such amounts as have been notified (and remain unpaid) in relation to: (I) a Cancelled Gas Compensation Notification; (II) a Deferred Gas Compensation Notification; (III) a Replenishment of LNG Operational Heel Notification; (IV) a Rescheduled Cargo Compensation Notification; (V) any cash settlement of Borrower’s Terminal User Account through payment of the LNG Reconciliation Value; or (VI) any other amount properly incurred for the account of an Impacted User under the terms of this Agreement. (b) If any payment is made to an Impacted User pursuant to a draw on the Inter- User Guarantee and a withdrawal from the Trust Account, the receipt of funds by the Impacted User pursuant to such drawing or withdrawal shall, to that extent, satisfy and discharge the relevant Defaulting User’s obligation to make such payment under this Agreement, but shall be without prejudice to:
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Related to Distribution of Inter-User Guarantee

  • Application of this Revenue Sharing Agreement to Notes The terms of this Revenue Sharing Agreement shall apply to each Note as if the terms of this Revenue Sharing Agreement were fully set forth in each Note.

  • Certification of the Settlement Class For purposes of this Settlement only, the Parties stipulate to the certification of the Settlement Class, which is contingent upon the Court entering the Final Approval Order and Judgment of this Settlement and the occurrence of the Effective Date.

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