Holding and completion of Bills. (a) Each Borrower shall ensure that the Agent has a sufficient stock of Bills before delivering any Request for a Utilisation comprising Bills.
(b) Each Xxxx shall:
(i) be drawn by the Borrower in its own favour and endorsed by it in blank;
(ii) be undated;
(iii) have the Maturity Date, the drawee and the face amount left blank; and
(iv) be claused in a manner which complies with the Bank of England's requirements for Eligible Bills at that time.
(c) Subject to the terms of this Agreement, the Agent shall and is irrevocably authorised by the Borrowers to:
(i) sign each Xxxx on behalf of the Borrower concerned and date it with its Utilisation Date;
(ii) insert in each Xxxx the name of the Bank on which it is drawn, its face amount and its Maturity Date; and
(iii) deliver each completed Xxxx to the Bank on which it is drawn for acceptance in accordance with this Agreement.
(d) The Agent shall at the request of a Borrower notify that Borrower what stock of Bills (and in what denominations) are held by the Agent. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
Holding and completion of Bills. (a) Unless paragraph (d) below applies, each Borrower shall ensure that the Agent has a sufficient stock of Bills before delivering any Request for a Utilisation comprising Bills.
(b) Each Xxxx shall:
(i) be drawn by the Borrower in its own favour and endorsed by it in blank;
(ii) be undated;
(iii) have the Maturity Date and the face amount left blank; and
(iv) be claused in a manner which complies with the Bank of England's requirements for Eligible Bills at that time.
(c) Subject to the terms of this Agreement, the Agent shall:
(i) date each Xxxx with its Utilisation Date;
(ii) insert in each Xxxx the name of the Bank on which it is drawn, its face amount and its Maturity Date; and
(iii) deliver the requisite number of completed Bills to the relevant Banks for acceptance in accordance with this Agreement.
(d) If a power of attorney substantially in the form of Schedule 9 given to the Agent in respect of the relevant Borrower is in effect on the relevant Utilisation Date and no notice of revocation of that power of attorney has been received by the Agent, then, notwithstanding the preceding paragraphs of this Clause 7, the Agent, for and on behalf of the relevant Borrower, shall draw, clause (so as to comply with the Bank of England's requirements for Eligible Bills current at the time), endorse (if appropriate) and deliver Bills to implement the relevant Utilisation in satisfaction of the relevant Borrower's obligations under this Clause 7.
Holding and completion of Bills. (a) A Borrower shall ensure that the Agent has:
(i) a sufficient stock of Bills; and
(ii) a Power of Attorney which is in full force and effect, before delivering any Request for a Utilisation comprising Bills.
(b) Each Xxxx shall:
(i) be drawn by the Borrower in its own favour and endorsed by it in blank;
(ii) be undated;
(iii) have the Maturity Date and the face amount left blank; and
(iv) be claused in a manner which complies with the Bank of England’s requirements for Eligible Bills at that time.
(c) Subject to the terms of this Agreement, the Agent shall:
(i) date each Xxxx with its Utilisation Date;
(ii) insert in each Xxxx the name of the Bank by which it is accepted, its face amount and its Maturity Date; and
(iii) deliver the requisite number of completed Bills to the Banks for acceptance in accordance with this Agreement.
Holding and completion of Bills. (a) A Borrower must ensure that the Facility Agent has a Power of Attorney which is in full force and effect, before delivering a Request for Bills.
(b) If the Power of Attorney is then still in force, the Facility Agent must, subject to the terms of this Agreement:
(i) on behalf of that Borrower, draw and endorse sufficient Bills to fulfil each Request for Bills;
(ii) date each such Xxxx with its Utilisation Date;
(iii) insert in each such Xxxx the name of the Lender on which it is drawn, its face amount and its Maturity Date; and
(iv) send the requisite number of completed Bills to the Lenders for acceptance under this Agreement.
Holding and completion of Bills. (a) The Company and each Borrower shall ensure that the Facility Agent has a sufficient stock of Bills before delivering any Request for Bills. The Facility Agent shall, subject to the terms of this Agreement, hold such Bills to the order of the Borrower in whose favour they are drawn.
(b) Each Xxxx shall:
(i) be drawn in its own favour by and be signed by the relevant Borrower and endorsed by it in blank;
(ii) be undated;
(iii) have the Maturity Date and the face amount left blank; and
(iv) be claused in a manner which complies with the Bank of England's requirements for Eligible Bills at that time.
(c) Subject to the terms of this Agreement, the Facility Agent shall:
(i) date each Xxxx with the relevant Utilisation Date;
(ii) insert in each Xxxx the name of the Bank on which it is drawn, its face amount and its Maturity Date; and
(iii) deliver the requisite number of completed Bills to the relevant Banks for acceptance in accordance with this Agreement.
(d) If the Power of Attorney given to the Facility Agent by the relevant Borrower is in effect on the relevant Utilisation Date and no notice of revocation thereof has been received by the Agent and the Agent has not notified that Borrower in writing at least two Business Days prior to such proposed Utilisation Date that it will no longer exercise the powers given to it under the Power of Attorney, the Facility Agent, for and on behalf of the relevant Borrower, shall draw, endorse and deliver Bills complying with the requirements of paragraph (b) above to implement the relevant drawing in satisfaction of that Borrower's obligations thereunder.
(e) The Facility Agent shall be liable to the relevant Borrower for any loss or liability incurred by that Borrower as a result of any loss, theft, fraudulent usage or other misapplication of any Xxxx only to the extent that such loss or liability was incurred directly as a result of the Facility Agent failing to take reasonable care to safeguard the Bills.
Holding and completion of Bills. (A) A Borrower shall ensure that the Agent has a sufficient stock of Bills before delivering any request in respect of Bills.
(B) Each Bill xxxl:
(i) be drawn by the Borrower is its own favour and endorsed by it in blank;
(iii) have the maturity date and the face amount left blank; and
(iv) be claused in a manner which complies with the Bank of England's requirements for Eligible Bills at that time.
(C) Subject to the terms of this Agreement, the Agent shall:-
(i) date each Bill xxxh its Acceptance Utilisation Date;
(ii) insert in each Bill xxx name of the Lender on which it is drawn, its face amount and its maturity date; and
(iii) deliver the requisite number of completed Bills to the Lenders for acceptance in accordance with this Agreement.
