General Indemnities. 17.1 Currency In the event of any Finance Party receiving or recovering any amount payable under any of the Security Documents in a currency other than the Currency of Account, and if the amount received or recovered is insufficient when converted into the Currency of Account at the date of receipt to satisfy in full the amount due, the Borrower shall, on the Agent's written demand, pay to the Agent such further amount in the Currency of Account as is sufficient to satisfy in full the amount due and that further amount shall be due to the Agent on behalf of the Finance Parties as a separate debt under this Agreement.
Appears in 6 contracts
Samples: Loan Facility Agreement, Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc), Loan Facility Agreement (Teekay LNG Partners L.P.)
General Indemnities. 17.1 Currency In the event of any Finance Party receiving or recovering any amount payable under any of the Security Documents in a currency other than the Currency of Account, and if the amount received or recovered is insufficient when converted into the Currency of Account at the date of receipt to satisfy in full the amount due, the Borrower shall, on the Agent's ’s written demand, pay to the Agent such further amount in the Currency of Account as is sufficient to satisfy in full the amount due and that further amount shall be due to the Agent on behalf of the Finance Parties as a separate debt under this Agreement.
Appears in 5 contracts
Samples: Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc), Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc), Secured Reducing Revolving Loan and Letter of Credit Facility Agreement (Gulfmark Offshore Inc)
General Indemnities. 17.1 Currency In the event of any Finance Party receiving or recovering any amount payable under any of the Security Documents in a currency other than the Currency of Account, and if the amount received or recovered is insufficient when converted into the Currency of Account at the date of receipt to satisfy in full the amount due, the Borrower Borrowers shall, on the Agent's ’s written demand, pay to the Agent such further amount in the Currency of Account as is sufficient to satisfy in full the amount due and that further amount shall be due to the Agent on behalf of the Finance Parties as a separate debt under this Agreement.
Appears in 3 contracts
Samples: Secured Reducing Revolving Loan Facility Agreement, Secured Reducing Revolving Loan Facility Agreement (Teekay Shipping Corp), Secured Reducing Revolving Loan Facility Agreement (Teekay LNG Partners L.P.)
General Indemnities. 17.1 15.1 Currency In the event of any Finance Party receiving or recovering any amount payable under any of the Security Documents in a currency other than the Currency of Account, and if the amount received or recovered is insufficient when converted into the Currency of Account at the date of receipt to satisfy in full the amount due, the Borrower Borrowers shall, on the Agent's ’s written demand, pay to the Agent such further amount in the Currency of Account as is sufficient to satisfy in full the amount due and that further amount shall be due to the Agent on behalf of the Finance Parties as a separate debt under this Agreement.
Appears in 2 contracts
Samples: Facility Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)
General Indemnities. 17.1 Currency In the event of any Finance Party the Agent or a Bank receiving or recovering any amount payable under any of the Security Documents in a currency other than the Currency of Account, and if the amount received or recovered is insufficient when converted into the Currency of Account at the date of receipt to satisfy in full the amount due, the Borrower shall, on the Agent's ’s written demand, pay to the Agent such further amount in the Currency of Account as is sufficient to satisfy in full the amount due and that further amount shall be due to the Agent on behalf of the Finance Parties Banks as a separate debt under this Agreement.
Appears in 2 contracts
Samples: Loan Facility Agreement (Usg Corp), Secured Loan Facility Agreement (Usg Corp)
General Indemnities. 17.1 Currency In the event of any Finance Party the Agent or a Bank receiving or recovering any amount payable under any of the Security Documents in a currency other than the Currency of Account, and if the amount received or recovered is insufficient when converted into the Currency of Account at the date of receipt to satisfy in full the amount due, the Borrower Borrowers shall, on the Agent's written demand, pay to the Agent such further amount in the Currency of Account as is sufficient to satisfy in full the amount due and that further amount shall be due to the Agent on behalf of the Finance Parties Banks as a separate debt under this Agreement.
Appears in 2 contracts
Samples: Loan Facility Agreement (Mc Shipping Inc), Loan Facility Agreement (Mc Shipping Inc)
General Indemnities. 17.1 Currency 18.1 CURRENCY In the event of any a Finance Party receiving or recovering any amount payable under any of the Security Documents in a currency other than the Currency of Account, and if the amount received or recovered is insufficient when converted into the Currency of Account at the date of receipt to satisfy in full the amount due, the Borrower shall, on the Agent's written demand, pay to the Agent such further amount in the Currency of Account as is sufficient to satisfy in full the amount due and that further amount shall be due to the Agent on behalf of the Finance Parties as a separate debt under this Agreement.
Appears in 1 contract
