Common use of Payment of Bankers' Acceptances Clause in Contracts

Payment of Bankers' Acceptances. Immediately upon the Agent making a declaration pursuant to Section 12.2.2, the Relevant Borrower shall, without the necessity of further act or evidence, be and become unconditionally obligated to deposit with the Agent the aggregate face amount of all Bankers' Acceptances then outstanding for the Relevant Borrower's account and the Relevant Borrower hereby authorizes each Lender to debit any then existing credit in its accounts with the amount required to make such payment to the Agent notwithstanding that any such Bankers' Acceptances may be held by the Lender in its own right at maturity. Amounts paid to the Agent pursuant to this Section 12.3 shall bear interest at the rate offered by the Agent on deposits of similar amounts for similar terms. All such amounts, together with interest earned thereon, shall be applied against and shall reduce to the extent of such amounts the Relevant Borrower's obligations to pay amounts then or thereafter payable under Bankers' Acceptances at the respective times such amounts become so payable. Any remaining cash being held by the Agent pursuant to this Section 12.3 shall be applied against any other Loan Obligations and any excess thereafter shall be released to the Relevant Borrower or its assigns, but only after all Bankers' Acceptances have matured and all Loan Obligations have been satisfied in full.

Payment of Bankers' Acceptances. Immediately upon the Agent making a declaration pursuant occurrence of any event obligating the Borrower to deposit Collateral with the Lender under Section 12.2.213.2, the Relevant Borrower shall, without the necessity of further act or evidence, be and become thereby unconditionally obligated to deposit forthwith with the Agent Lender Collateral equal to the aggregate face full principal amount at maturity of all Bankers' Acceptances and L/C's then outstanding for the Relevant Borrower's account and the Relevant Borrower hereby unconditionally promises and agrees to deposit with the Lender immediately upon such demand Collateral in the amount so demanded. The Borrower authorizes each Lender the Lender, or any of them, to debit any then existing credit in its accounts account with the amount required to make pay such payment L/C's, and to the Agent pay Bankers' Acceptances, notwithstanding that any such Bankers' Acceptances may be held by the Lender in its own right at maturity. Amounts paid to the Agent Lender pursuant to this Section 12.3 shall bear interest at the rate offered by the Agent on deposits such a demand in respect of similar amounts for similar terms. All such amounts, together with interest earned thereon, Bankers' Acceptances and L/C's shall be applied against against, and shall reduce to the extent obligations of such amounts the Relevant Borrower's obligations Borrower to pay amounts then or thereafter payable under Bankers' Acceptances and L/C's at the respective times such the amounts become so payablepayable thereunder. Any remaining cash being held by the Agent pursuant to this Section 12.3 The Borrower shall be applied against any other Loan Obligations and any excess thereafter shall be released entitled to the Relevant Borrower or its assigns, but only after all Bankers' Acceptances have matured and all Loan Obligations have been satisfied receive interest on cash held as Collateral in fullaccordance with Section 14.13.

Payment of Bankers' Acceptances. Immediately upon the Agent making of a declaration pursuant by the Agent referred to in Section 12.2.211.2, the Relevant Borrower shall, without the necessity of further act or evidence, be and become thereby unconditionally obligated to deposit with provide forthwith to the Agent Agent, for the aggregate face Lenders' benefit cash collateral equal to the full principal amount at maturity of all Bankers' Acceptances and Notional Bankers' Acceptances then outstanding for the Relevant Borrower's account and issued by each Lender, and the Relevant Borrower hereby unconditionally promises and agrees to deposit with the Agent, immediately upon such demand cash collateral in the amount so demanded. The Borrower authorizes each Lender the Agent, as the case may be, to debit any then existing credit in its accounts account with the amount required to make pay such payment to the Agent Bankers' Acceptances, notwithstanding that any such Bankers' Acceptances and Notional Bankers' Acceptances may be held by the a Lender in its own right at maturity. Amounts paid to the Agent pursuant to this Section 12.3 such a demand in respect of Bankers' Acceptances or Notional Bankers' Acceptances shall bear interest at the rate offered be applied against, and in respect of a demand by the Agent on deposits shall reduce, pro rata among the BA Lenders and the Non-BA Lenders, the obligation of similar amounts for similar terms. All such amounts, together with interest earned thereon, shall be applied against and shall reduce to the extent of such amounts the Relevant Borrower's obligations Borrower to pay amounts then or thereafter payable under such Bankers' Acceptances at the respective times such amounts become so payable. Any remaining cash being held by the Agent pursuant to this Section 12.3 shall be applied against any other Loan Obligations and any excess thereafter shall be released to the Relevant Borrower or its assigns, but only after all Notional Bankers' Acceptances have matured and all Loan Obligations have been satisfied accepted or issued under the Facility at the times amounts become payable under or in fullrespect thereof, as the case may be.

Payment of Bankers' Acceptances. Immediately upon the making of the demand by the Agent making a declaration pursuant referred to in (ii) of Section 12.2.28.2, the Relevant Borrower shall, without the necessity of further act or evidence, be and become thereby unconditionally obligated to deposit with each Lender at its Branch of Account the Agent the aggregate face full principal amount at maturity of all Bankers' Acceptances then outstanding for the Relevant accepted by such Lender and issued by a Borrower's account , and the Relevant Borrower hereby unconditionally promises and agrees to deposit with each Lender the amount so demanded immediately upon such demand, which amount shall remain on deposit to be used only as provided for herein and the Borrower authorizes the Agent and each Lender to debit any then existing credit in of its accounts with the amount required to make pay any such payment Bankers' Acceptances or to the Agent meet such demand, notwithstanding that any such Bankers' Acceptances may be held by the a Lender in its own right at maturity. Amounts Any deposit paid to the Agent a Lender pursuant to this Section 12.3 such a demand and any interest payable thereon shall bear interest at be subject to the rate offered by Lien of the Agent on deposits of similar amounts for similar terms. All such amounts, together with interest earned thereonSecurity, shall be applied against against, and shall reduce to the extent of the amount of such amounts deposit, the Relevant Borrower's obligations of the Borrower to pay amounts then or thereafter payable under Bankers' Acceptances at the respective times such amounts shall become so payable. Any remaining cash being held The amounts so deposited with a Lender shall earn interest from the date of such deposit at a daily rate of interest equal to the rate of interest payable for each day of deposit on deposits of similar amounts and maturity as then offered by such Lender. The amounts so deposited with a Lender and the interest earned on such amounts shall only become payable and owing to the Borrower if they have not been applied by the Agent pursuant Lender against the obligations of the Borrower to this Section 12.3 shall be applied against any other Loan Obligations and any excess thereafter shall be released to the Relevant Borrower or its assigns, but only after all pay amounts payable under Bankers' Acceptances have matured or to pay any other Obligations under this Agreement and all Loan Obligations have been satisfied if no Event of Default is then continuing, in fullwhich case such amount shall become payable to the Borrower, at the Lender's Branch of Account.