FACILITY, TERMS AND PURPOSE Sample Clauses

FACILITY, TERMS AND PURPOSE. In consideration of the Lender granting the facility or other financial accommodation to the Borrower, the Borrower hereby covenants with the Lender to pay on demand all sums which shall be due or owing to the Lender from the Borrower subject to the terms and conditions specified herein including all usual commissions and customary banking charges and all costs and expenses incurred in connection with or incidental to the recovery of any amount due on the facility. It is agreed that the facility shall include any sum owing to the Lender by reason of an advance (if any) made directly to any person at the request of or on behalf of the Borrower on any bonds, letters of credit issued and guarantee or indemnities given by the Lender on behalf of the Borrower. The Borrower hereby agrees that the said facility will be used for the purpose stated in the Offer Letter(s) and that the Borrower shall not use any advance for any purpose except that permitted in this clause.
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Related to FACILITY, TERMS AND PURPOSE

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