Distributions to the Borrower. The COFACE Agent and the Security Agent may (with the consent of the Obligor or in accordance with Clause 32 (Set-off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or in or towards purchase of any amount of any currency to be so applied.
Appears in 3 contracts
Samples: Coface Facility Agreement (Globalstar, Inc.), Coface Facility Agreement (Globalstar, Inc.), Coface Facility Agreement (Globalstar, Inc.)
Distributions to the Borrower. Americas 90643250 153 The COFACE Agent and the Security Agent may (with the consent of the Obligor or in accordance with Clause 32 (Set-offSet‑off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or in or towards purchase of any amount of any currency to be so applied.
Appears in 1 contract
