PAYMENT AND PROOF OF DEBT Sample Clauses

PAYMENT AND PROOF OF DEBT. 9.1 The Agency Bank shall, pursuant to the stipulations herein, remit the withdrawn amount to the Borrower's Renminbi-denominated current account opened at the Agency Bank not later than Twelve (12:00) o'clock (Beijing Time) at noon on the Drawdown Date. 9.2 All sums payable by the Borrower under this Agreement shall be paid to the Agency Bank by the Borrower on a timely basis. In case that any sum the Agency Bank receives is less than the due and payable amount, the Agency Bank shall distribute it in accordance with the following order: 14 17 1) Fees resulting from the satisfaction of creditor's claim;
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PAYMENT AND PROOF OF DEBT. 9.1 The Agency Bank shall, pursuant to the stipulations herein, remit the withdrawn amount to the Borrower's Renminbi-denominated current account opened at the Agency Bank not later than Twelve (12:00) o'clock (Beijing Time) at noon on the Drawdown Date. 9.2 All sums payable by the Borrower under this Agreement shall be paid to the Agency Bank by the Borrower on a timely basis. In case that any sum the Agency Bank receives is less than the due and payable amount, the Agency Bank shall distribute it in accordance with the following order: 1) Fees resulting from the satisfaction of creditor's claim; 2) Default interest and compensation; 3) Interest; and 4) Principal; In addition, the Agency Bank has the right to classify and transfer any other sums received from the Borrower (excluding the foreign exchange amount in the Borrower's capital account) as sums owed under this Agreement in a manner it deems appropriate. 9.3 All sums payable to the Lending Banks pursuant to this Agreement shall be remitted to the account (designated by the Agency Bank) by the Borrower in accordance with the Agency Bank's notice. When the sum has been remitted to the designated account, the payment shall be deemed to be completed. 9.4 The Lending Banks jointly entrust the Agency Bank with the duty of recording the principal, interest, fee, and any other sums owed by the Borrower under the Loan Arrangement herein into the Agency Bank's internal account book. The aforesaid record as well as bills and receipts produced and kept by the Agency Bank during the normal business course when the Borrower makes withdrawal, repayment, and interest payment are deemed as valid proof of creditor's rights and proof of debt among the Lending Banks, the Agency Bank, and the Borrower. ARTICLE TEN THE RELATIONS AMONG BANKS, RIGHTS AND OBLIGATIONS, AND RESPONSIBILITIES 10.1 The Acknowledgement of the Loan Arrangement under the Syndicated Loan by the Banks The banks under this Agreement, including the Joint Lead Managers, Joint Lead Underwriters, the Agency Bank and other Member Banks and Lending Banks, hereby understand, acknowledge and agree: 1) The civil right of the banks under this Agreement, including the Joint Lead Managers, Joint Lead Underwriters, the Agency Bank and other Member Banks and Lending Banks, is equal; the voting right of each of the Lending Banks is in proportion to the amount of the Loan such bank provides; 2) The Member Banks and the Lending Banks shall be Chinese banks within the...
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PAYMENT AND PROOF OF DEBT 
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Related to PAYMENT AND PROOF OF DEBT

  • Payment of Leasehold Obligations Each Borrower shall at all times pay, when and as due, its rental obligations under all leases under which it is a tenant, and shall otherwise comply, in all material respects, with all other terms of such leases and keep them in full force and effect and, at Agent’s request will provide evidence of having done so.

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

  • The Obligations The security interest granted hereunder shall secure the payment of all indebtedness and the performance of all obligations of the Debtor to the Secured Party of every type and description, whether now existing or hereafter arising, fixed or contingent, as primary obligor or as guarantor or surety, acquired directly or by assignment or otherwise, liquidated or unliquidated, regardless of how they arise or by what agreement or instrument they may be evidenced, including without limitation all loans, advances and other extensions of credit and all covenants, agreements, and provisions contained in all loan and other agreements between the parties (the “Obligations”).

  • Release of Collateral and Guarantee Obligations (a) Notwithstanding anything to the contrary contained herein or in any other Loan Document, upon request of the Borrower in connection with any Disposition of Property permitted by the Loan Documents, the Administrative Agent shall (without notice to, or vote or consent of, any Lender, or any affiliate of any Lender that is a party to any Specified Hedge Agreement) take such actions as shall be required to release its security interest in any Collateral being Disposed of in such Disposition, and to release any guarantee obligations under any Loan Document of any Person being Disposed of in such Disposition, to the extent necessary to permit consummation of such Disposition in accordance with the Loan Documents. (b) Notwithstanding anything to the contrary contained herein or any other Loan Document, when all Obligations (other than obligations in respect of any Specified Hedge Agreement) have been paid in full, all Commitments have terminated or expired and no Letter of Credit shall be outstanding, upon request of the Borrower, the Administrative Agent shall (without notice to, or vote or consent of, any Lender, or any affiliate of any Lender that is a party to any Specified Hedge Agreement) take such actions as shall be required to release its security interest in all Collateral, and to release all guarantee obligations under any Loan Document, whether or not on the date of such release there may be outstanding Obligations in respect of Specified Hedge Agreements. Any such release of guarantee obligations shall be deemed subject to the provision that such guarantee obligations shall be reinstated if after such release any portion of any payment in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any Guarantor or any substantial part of its property, or otherwise, all as though such payment had not been made.

  • Other Defaults Under Loan Documents Any Loan Party shall default in the performance of or compliance with any term contained in this Agreement or any of the other Loan Documents, other than any such term referred to in any other subsection of this Section 8, and such default shall not have been remedied or waived within 30 days after the earlier of (i) an Officer of Company or such Loan Party becoming aware of such default or (ii) receipt by Company and such Loan Party of notice from Administrative Agent or any Lender of such default; or

  • Other Defaults Under Credit Documents Any Credit Party shall default in the performance of or compliance with any term contained herein or any of the other Credit Documents, other than any such term referred to in any other Section of this Section 8.1, and such default shall not have been remedied or waived within thirty days after the earlier of (i) an officer of such Credit Party becoming aware of such default or (ii) receipt by Borrower of notice from Administrative Agent or any Lender of such default; or

  • Litigation and Contingent Obligations There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Borrower or any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Loans. Other than any liability incident to any litigation, arbitration or proceeding which could not reasonably be expected to have a Material Adverse Effect, the Borrower has no material contingent obligations not provided for or disclosed in the financial statements referred to in Section 5.4.

  • Guaranty of the Obligations Subject to the provisions of Section 7.2, Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

  • Loan Agreements Notwithstanding any term hereof (or any term of the UCC that might otherwise be construed to be applicable to a “securities intermediary” as defined in the UCC) to the contrary, none of the Collateral Agent, the Collateral Custodian nor any securities intermediary shall be under any duty or obligation in connection with the acquisition by the Borrower, or the grant by the Borrower to the Collateral Agent, of any Loan Asset in the nature of a loan or a participation in a loan to examine or evaluate the sufficiency of the documents or instruments delivered to it by or on behalf of the Borrower under the related Loan Agreements, or otherwise to examine the Loan Agreements, in order to determine or compel compliance with any applicable requirements of or restrictions on transfer (including without limitation any necessary consents). The Collateral Custodian shall hold any Instrument delivered to it evidencing any Loan Asset granted to the Collateral Agent hereunder as custodial agent for the Collateral Agent in accordance with the terms of this Agreement.

  • Secured Party Performance of Debtor Obligations Without having any obligation to do so, the Administrative Agent may perform or pay any obligation which any Grantor has agreed to perform or pay in this Security Agreement and the Grantors shall reimburse the Administrative Agent for any amounts paid by the Administrative Agent pursuant to this Section 8.4. The Grantors’ obligation to reimburse the Administrative Agent pursuant to the preceding sentence shall be a Secured Obligation payable on demand.

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