Livranças. The Common Security Agent shall not present any of the Livranças for payment until after the delivery of an Enforcement Notice to the Company and each Guarantor. Notwithstanding the terms of the Livrança Covering Letter, the aggregate amount to be inserted by the Common Security Agent into the Livranças may not exceed the aggregate amount of the Secured Obligations as at the date of such insertion by the Common Security Agent.
Appears in 5 contracts
Samples: Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Intercreditor Agreement (Melco Resorts & Entertainment LTD), Intercreditor Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD)
Livranças. The Common Security Agent shall not present any of the Livranças for payment until after the delivery of an Enforcement Notice to each of the Company Borrower and each GuarantorGuarantors. Notwithstanding the terms of the Livrança Covering Letter, the aggregate amount to be inserted by the Common Security Agent into the Livranças may not exceed the aggregate amount of the Secured Obligations as at the date of such insertion by the Common Security Agent.
Appears in 1 contract
Samples: Facilities Agreement (Melco Crown Entertainment LTD)
