PAYMENT PROCEDURE UNDER THE AGREEMENT. 6.11.1. All payments hereunder, including repayment (return) of the Principal debt, interest for the Credit use, possible penalties and fees shall be sent by the Borrower to the Bank with mandatory specification in the payment document of the purpose of payment, date and number hereof. 6.11.2. If there is not enough monetary funds for the Borrower to perform monetary obligations hereunder in full the next level of debt repayment shall be set (in compliance with the chronological order of the Credit Tranches provision); 6.11.2.1. interest not paid in time; 6.11.2.2. Primary loan overdue debt; 6.11.2.3. Credit interests; 6.11.2.4. Principal debt under the Credit; 6.11.2.5. the forfeit (penalties) accrued on the overdue interests; 6.11.2.6. the forfeit (penalties) accrued on the past-due Principal debt. 6.11.3. The Lender shall be entitled to unilaterally change the debt repayment order provided for in this article in accordance with the laws and after taking the decision send a written notification to the Borrower. 6.11.4. For the purpose of settlements hereunder on the date of the Borrower’s monetary obligations performance the Borrower shall ensure that at the Settlement Accounts there are enough monetary funds for write off by the Bank by collection orders (without additional orders of the Borrower), or shall perform the Borrower’s monetary obligations hereunder by remittance of funds from the Borrower’s accounts at the Bank or other credit institutions. 6.11.5. If there is not enough or no monetary funds at the Borrower’s accounts at the Bank to meet all claims in their regard, including the Lender’s claims, or if it is impossible to write off monetary funds from the Borrower’s account at the Bank for other reasons the Borrower shall perform the Borrower’s monetary obligations hereunder by remittance of funds from the Borrower’s accounts at other credit institutions to the Bank correspondent account specified in Article 12 hereof, on the basis of payment orders, if necessary, converting the funds to the obligations currency. 6.11.6. The date of any payments receipt by the Lender hereunder shall be date (day) when monetary funds are actually written off from Settlement account/Settlement account in foreign currency or the date of remittance of funds to the Bank correspondent account specified in Article 12 hereof (if payments are sent from accounts at other credit institutions). 6.11.7. If when making payment in favour of the Lender, for any reason the Borrower shall pay any taxes, fees from the specified amount etc., The Borrower shall increase the payment amount so that the Lender will receive the full payment amount payable by the Borrower in accordance herewith. 6.11.8. If the date of the Borrower’s next payment hereunder is not a Business day, the Borrower shall make such payment on the Business day following the date of this payment set herein. 6.11.9. If the Borrower signed several agreements (contracts) with the Lender and the amount of the Borrower’s payment is not enough to perform the Borrower’s obligations under all agreements (contracts), the Borrower shall unconditionally and irrevocably authorize the Lender to independently determine the sequence of agreements (contracts), for whose obligations the payments is aimed.
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Samples: Credit Facility Agreement, Additional Agreement to Credit Facility Agreement (Mechel OAO), Credit Facility Agreement (Mechel OAO)
PAYMENT PROCEDURE UNDER THE AGREEMENT. 6.11.1. All payments hereunder, including repayment (return) of the Principal debt, interest for the Credit use, possible penalties and fees fees. The Borrower shall be sent by the Borrower direct to the Bank with mandatory specification in the payment document of the purpose of payment, date and number hereof.
6.11.2. If there is not enough monetary funds for the Borrower to perform monetary obligations hereunder in full the next level of debt repayment shall be set (in compliance with the chronological order of the Credit Tranches provision);
6.11.2.1. interest not paid in time;
6.11.2.2. Primary loan overdue debt;
6.11.2.3. Credit interests;
6.11.2.4. Principal debt under the Credit;
6.11.2.5. the forfeit (penalties) accrued on the overdue interests;
6.11.2.6. the forfeit (penalties) accrued on the past-due Principal debt.
6.11.3. The Lender shall be entitled to unilaterally change the debt repayment order provided for in this article in accordance with the laws and after taking the decision send a written notification to the Borrower.
6.11.4. For the purpose of settlements hereunder on the date of the Borrower’s monetary obligations performance the Borrower shall ensure that at the Settlement Accounts there are enough monetary funds for write off by the Bank by collection orders (without additional orders of the Borrower), or shall perform the Borrower’s monetary obligations hereunder by remittance of funds from the Borrower’s accounts at the Bank or other credit institutions.
6.11.5. If there is not enough or no monetary funds at the Borrower’s accounts at the Bank to meet all claims in their regard, including the Lender’s claims, or if it is impossible to write off monetary funds from the Borrower’s account at the Bank for other reasons the Borrower shall perform the Borrower’s monetary obligations hereunder by remittance of funds from the Borrower’s accounts at other credit institutions to the Bank correspondent account specified in Article 12 hereof, on the basis of payment orders, if necessary, converting the funds to the obligations currency.
6.11.6. The date of any payments receipt by the Lender hereunder shall be date (day) when monetary funds are actually written off from Settlement account/Settlement account in foreign currency or the date of remittance of funds to the Bank correspondent account specified in Article 12 hereof (if payments are sent from accounts at other credit institutions).
6.11.7. If when making payment in favour of the Lender, for any reason the Borrower shall pay any taxes, fees from the specified amount etc., The Borrower shall increase the payment amount so that the Lender will receive the full payment amount payable by the Borrower in accordance herewith.
6.11.8. If the date of the Borrower’s next payment hereunder is not a Business day, the Borrower shall make such payment on the Business day following the date of this payment set herein.
6.11.9. If the Borrower signed concluded several agreements (contracts) with the Lender and the amount of the Borrower’s payment amount is not enough to perform sufficient for performance of the Borrower’s obligations under all agreements (contracts), the . The Borrower shall unconditionally and irrevocably authorize the Lender to independently determine the sequence of agreements (contracts), ) for whose performance of obligations under which the payments payment is aimeddirected.
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PAYMENT PROCEDURE UNDER THE AGREEMENT. 6.11.1. All payments hereunder, including repayment (return) of the Principal debt, interest for the Credit use, possible penalties and fees shall be sent by the Borrower to the Bank with mandatory specification in the payment document of the purpose of payment, date and number hereof.
6.11.2. If there is not enough monetary funds for the Borrower to perform monetary obligations hereunder in full the next level of debt repayment shall be set (in compliance with the chronological order of the Credit Tranches provision);
6.11.2.1. interest not paid in time;
6.11.2.2. Primary loan overdue debt;
6.11.2.3. Credit interests;
6.11.2.4. Principal debt under the Credit;
6.11.2.5. the forfeit (penalties) accrued on the overdue interests;
6.11.2.6. the forfeit (penalties) accrued on the past-due Principal debt.
6.11.3. The Lender shall be entitled to unilaterally change the debt repayment order provided for in this article in accordance with the laws and after taking the decision send a written notification to the Borrower.
6.11.4. For the purpose of settlements hereunder on the date of the Borrower’s monetary obligations performance the Borrower shall ensure that at the Settlement Accounts there are enough monetary funds for write off by the Bank by collection orders (without additional orders of the Borrower), or shall perform the Borrower’s monetary obligations hereunder by remittance of funds from the Borrower’s accounts at the Bank or other credit institutions.
6.11.5. If there is not enough or no monetary funds at the Borrower’s accounts at the Bank to meet all claims in their regard, including the Lender’s claims, or if it is impossible to write off monetary funds from the Borrower’s account at the Bank for other reasons the Borrower shall perform the Borrower’s monetary obligations hereunder by remittance of funds from the Borrower’s accounts at other credit institutions to the Bank correspondent account specified in Article 12 hereof, on the basis of payment orders, if necessary, converting the funds to the obligations currency.
6.11.6. The date of any payments receipt by the Lender hereunder shall be date (day) when monetary funds are actually written off from Settlement account/Settlement account in foreign currency or the date of remittance of funds to the Bank correspondent account specified in Article 12 hereof (if payments are sent from accounts at other credit institutions).
6.11.7. If when making payment in favour of the Lender, for any reason the Borrower shall pay any taxes, fees from the specified amount etc., . The Borrower shall increase the payment amount so that the Lender will receive the full payment amount payable by the Borrower in accordance herewith.
6.11.8. If the date of the Borrower’s next payment hereunder is not a Business day, the Borrower shall make such payment on the Business day following the date of this payment set herein.
6.11.9. If the Borrower signed several agreements (contracts) with the Lender and the amount of the Borrower’s payment is not enough to perform the Borrower’s obligations under all agreements (contracts), the Borrower shall unconditionally and irrevocably authorize the Lender to independently determine the sequence of agreements (contracts), for whose obligations the payments is aimed.
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