OTHER UTILISATIONS Sample Clauses
The 'Other Utilisations' clause defines how a borrower may use the loan funds for purposes beyond the primary intended use. Typically, this clause outlines any additional permitted uses, such as refinancing existing debt, funding working capital, or making specific investments, and may set conditions or limitations on these alternative uses. Its core function is to provide flexibility for the borrower while ensuring the lender retains oversight and control over how the loan proceeds are applied, thereby managing risk and maintaining transparency.
OTHER UTILISATIONS. Subject as provided below all amounts standing to the credit of the Blocked Accounts from time to time following the deductions referred to in Clause 7.1.2 shall be applied as follows:
(a) FIRST in repayment of the outstanding principal amount of any Loans;
(b) SECOND in payment of any fees, costs and expenses due from any Obligor to Burdale under the Finance Documents;
(c) THIRD in payment of (i) all amounts of interest due on the Loans (including any deemed borrowing pursuant to Clause 6.6) and (ii) all Purchase Commission (or in making provision for Purchase Commission which will fall due for payment on the last Business Day of the current calendar month);
(d) FOURTH in or towards satisfaction of any other payment obligation of any Obligor under the Finance Documents; and
(e) FIFTH to the relevant Facility Company by way of payment into such Other Account as the relevant Facility Company may specify to Burdale in writing from time to time. PROVIDED THAT:
(i) notwithstanding the above, at all times whilst an Event of Default is continuing, amounts standing to the credit of a Blocked Account shall be applied to such of the liabilities of the Obligors under the Finance Documents and in such order as Burdale may in its absolute discretion determine; and
(ii) to the extent that any amount standing to the credit of one Facility Company's Blocked Account is applied to discharge the liabilities of another Obligor pursuant to Clause 7.1.2 or this Clause 7.2 then (without double counting) the provisions of Clause 6.2.5 shall apply to such application mutatis mutandis.
OTHER UTILISATIONS. Any other facilities or financial accommodation made available under the Working Capital Facility shall be charged to the relevant Borrower by the Working Capital Bank in accordance with its customary rates or scales as notified to the Borrower from time to time.
OTHER UTILISATIONS. Subject as provided below all amounts standing to the credit of the Blocked Accounts from time to time following the deductions referred to in Clause 6.1(b) shall be applied as follows:
(a) FIRST in payment of any fees, costs and expenses due from the Company to Burdale under the Finance Documents;
(b) SECOND in payment of all Purchase Commission (or in making provision for Purchase Commission which will fall due for payment on the last Business Day of the current calendar month);
(c) THIRD in or towards satisfaction of any other payment obligation of the Company under the Finance Documents; and
(d) FOURTH to the Company by way of payment into such Other Account as the Company may specify to Burdale in writing from time to time. Notwithstanding the above, at all times following the occurrence of an Event of Default and whilst the same is continuing, amounts standing to the credit of the Blocked Accounts shall be applied to such of the liabilities of the Company under the Finance Documents and in such order as Burdale may in its absolute discretion determine.
OTHER UTILISATIONS. All utilisations of the Facilities shall, except to the extent expressly provided in this letter or in the MFA, be made on our standard terms and conditions which shall be deemed to be incorporated in this letter. To the extent that there is any inconsistency between the terms of this letter and/or our standard terms and the terms of the MFA, the provisions of the MFA shall prevail.
OTHER UTILISATIONS. Subject to the other provisions of this Agreement, all amounts standing to the credit of the Blocked Accounts shall be applied in the following order:
10.2.1 in repayment of the outstanding principal amount of any Revolving Loans in such order and manner as the Lender may determine;
10.2.2 in payment of any fees, costs and expenses due from any Obligor to the Lender under any Finance Document;