Common use of Distribution to Banks Clause in Contracts

Distribution to Banks. The Agent shall make available to each Bank before close of business in the Place of Payment on that date its pro rata share (if any) of any sum so received by the Agent from the Borrower in the same currency and funds as received by the Agent to such account of that Bank with such bank in the Place of Payment as it shall have designated to the Agent for that purpose. If any sum is received by the Agent from the Borrower later than required by Clause 16.4 (By Borrower), the Agent shall make each Bank’s share (if any) available to it as soon as practicable thereafter.

Distribution to Banks. The Agent shall make available to each Bank before close of business in the Place of Payment on that date its pro rata share (if any) of any sum so received by the Agent from the Borrower in the same currency and funds as received by the Agent Euros to such account of that Bank with such bank Bank in the Place of Payment as it shall have designated to the Agent for that purpose. If any sum is received by the Agent from the Borrower later than required by Clause 16.4 15.4 (By Borrower), the Agent shall make each Bank’s share (if any) available to it as soon as practicable thereafter.

Distribution to Banks. The Agent shall make available to each Bank before close of business in the Place of Payment on that date its pro rata share (if any) of any sum so received by the Agent from the Borrower an Obligor in the same currency and funds as received by the Agent to such account of that Bank with such bank in the Place of Payment of the country of that currency as it shall have designated to the Agent for that purpose. If any sum is received by the Agent from the Borrower an Obligor later than required by Clause 16.4 (By Borrower)16.2, the Agent shall make each Bank’s 's share (if any) available to it as soon as practicable thereafter.