Common use of Holding and completion of Bills Clause in Contracts

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) Each A Borrower shall must ensure that the Agent has a sufficient stock of Bills before or a Power of Attorney which is in full force and effect upon delivering any a Utilisation Request for a Utilisation comprising Bills. (b) Each Xxxx shallUnless a Power of Attorney has been provided and not revoked or the Agent otherwise agrees, each Bxxx will: (i) be drawn by the Borrower delivering the Utilisation Request in its own favour and endorsed by it in blank; (ii) be undated;; and (iii) have the Maturity Date, the drawee 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 shall, and is irrevocably authorised by the Borrowers Borrower to: (i) sign date each Xxxx on behalf of the Borrower concerned and date it Bxxx with its Utilisation Date; (ii) insert in each Xxxx Bxxx the name of the Bank Lender on which it is drawn, its face amount and its Maturity Date; and (iii) deliver each send the requisite number of completed Xxxx Bills to the Bank on which it is drawn Lenders for acceptance in accordance with under this Agreement. (d) The If a Power of Attorney is given to the Agent shall at the request of by a Borrower notify that Borrower what stock and has not been revoked on the relevant Utilisation Date, the Agent shall: (i) on behalf of the Borrower, draw and endorse sufficient Bills to fulfil the Utilisation Request; and (ii) complete and send each Bxxx in what denominationsaccordance with paragraph (c) are held by the Agent. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------above.