Common use of Insufficient Payments Clause in Contracts

Insufficient Payments. (a) If EBRD at any time receives less than the full amount then due and payable to it under this Agreement, EBRD shall have the right to allocate and apply the amount received in any way or manner and for such purpose or purposes under this Agreement as EBRD in its sole discretion determines, notwithstanding any instruction that the Borrower may give to the contrary.

Insufficient Payments. (a) If EBRD at any time receives less than the full amount then due and payable to it under this AgreementGuarantee, EBRD shall have the right to allocate and apply the amount received in any way or manner and for such purpose or purposes under this Agreement Guarantee as EBRD in its sole discretion determines, notwithstanding any instruction that the Borrower Guarantor may give to the contrary.