Immediately payable. If a Letter of Credit or Bank Guarantee or any amount outstanding under a Letter of Credit or Bank Guarantee is expressed to be immediately payable, the Borrower that requested the issue of that Letter of Credit or Bank Guarantee shall repay or prepay that amount immediately.
Immediately payable. If a Documentary Credit or any amount outstanding under a Documentary Credit is expressed to be immediately payable, the relevant UK Borrower shall repay that amount immediately.
Immediately payable. If a Letter of Credit or any amount outstanding under a Letter of Credit becomes immediately payable, the relevant Borrower under the Revolving Facility to which such Letter of Credit relates shall repay or prepay that amount immediately.
Immediately payable. (a) If a Documentary Credit or any amount outstanding under a Documentary Credit becomes immediately payable under this Agreement, the relevant Borrower that requested (or on behalf of which the Company requested) the issue of that Documentary Credit shall repay or prepay that Documentary Credit or that amount within 3 Business Days of demand.
(b) Each L/C Bank shall promptly notify the Facility Agent of any demand received by it under and in accordance with any Documentary Credit (including details of the Documentary Credit under which such demand has been received and the amount demanded). The Facility Agent shall promptly notify the Company, the relevant Borrower for whose account the Documentary Credit was issued and each of the Lenders under the Revolving Facility or Additional Facility in relation to a revolving facility (as applicable).
Immediately payable. If a Guarantee or any amount outstanding under a Guarantee becomes immediately payable under this Agreement, the Borrower shall repay or prepay that amount immediately.
Immediately payable. If a demand is made by Lloyd’s under a Letter of Credit, the Agent shall promptly notify the Borrower and the Lenders.
Immediately payable. If a Letter of Credit or any amount outstanding under a Letter of Credit is expressed to be immediately payable and no claim (as defined in paragraph (a) of Clause 7.2 (Claims under a Letter of Credit)) has been made in respect of that Letter of Credit, the Borrower that requested (or on behalf of which the Obligors’ Agent requested) the issue of that Letter of Credit shall repay or prepay that amount immediately.
Immediately payable. If a Bond or any amount outstanding under a Bond is expressed to be immediately payable, the Applicant shall repay or prepay that amount immediately.
Immediately payable. (a) If a Letter of Credit or any amount outstanding under a Letter of Credit becomes immediately payable under this Agreement, the Borrower that requested the issue of the Letter of Credit must (in accordance with Clause 7.4 (Claims under a Letter of Credit) or otherwise) repay or prepay that Letter of Credit or that amount within three Business Days of demand.
(b) The Issuing Bank shall immediately notify the Facility Agent of any demand received by it under and in accordance with any Letter of Credit (including details of the Letter of Credit under which such demand has been received and the amount demanded). The Facility Agent shall immediately on receipt of any such notice notify the Company, the Borrower for whose account that Letter of Credit was issued and each of the Lenders under the Revolving Facility.
Immediately payable. (a) If a claim is made under a Bond, the Bond Borrower which requested that Bond shall pay to the Facilities Agent for the account of the relevant Tranche D Lender(s) the amount of that claim promptly and in any event within three Business Days of demand.
(b) If the relevant Bond Borrower does not repay such amount in full within three Business Days of demand by the relevant Tranche D Lender(s):
(i) subject to Subclause (iv) below, the Bond Borrower will on the immediately following Business Day be deemed to have delivered a Loan Utilisation Request under Tranche D for a Loan Utilisation in an amount equal to, and in the same currency as, the amount demanded under paragraph (a) above with an Interest Period of two weeks and a Utilisation Date of the Business Day following the deemed date of the Loan Utilisation Request;
(ii) the amount of each Lender’s share in the Loan Utilisation shall be determined in accordance with Clause 5.4;
(iii) the Facilities Agent will pay to the relevant Tranche D Lender(s) which issued the Bond the amount deemed requested by the Bond Borrower under paragraph (i) above in full satisfaction of the Bond Borrower’s obligations under paragraph (a) above and a pro tanto discharge of the Bond Borrower’s obligations under Clause 1.2(a); and
(iv) in any case where the Bond Borrower is not permitted under this Agreement to utilise Tranche D by way of Loan, the Loan Utilisation shall be deemed requested under Tranche C (or another Tranche under which it is permitted to utilise Loans), provided that if the amount of the Utilisation would exceed the Available Tranche C Facility (or other relevant Available Commitment) then the amount of such excess shall constitute a Loan Utilisation by Carnival plc under Tranche D (and then Tranche A, then Tranche B to the extent that Loan Utilisation under Tranche D exceeds the Available Tranche D Facility) in each case with an Interest Period of two weeks.
