Common use of Payment to Lender Clause in Contracts

Payment to Lender. The Payment, any Progress Payment, any Termination Payment, and all other sums that become payable by the Province to the Contractor under the DBFO Agreement shall be paid only: (a) subsequent to the delivery by the Province of a Default Notice or during the Step-In Period, to the Lender, in which case any such payment to the Lender shall be deemed payment to the Contractor under the DBFO Agreement; or (b) subject to Section 2.2(a), to any account or accounts of the Contractor at any time jointly designated by the Contractor and the Lender and in the absence of such designation, to the Contractor, in either case, for the purpose of calculating a Termination Payment under section 18.8 or 18.9 of the DBFO Agreement, all payments to such account or accounts or to the Contractor that were required by the terms of the relevant Senior Debt Financing to have been applied towards repayment of the Senior Debt Financing shall be deemed to have been so applied.

Payment to Lender. The Payment, any Progress Payment, any Termination Payment, and all other sums that become payable by the Province to the Contractor under the DBFO DBFM Agreement shall be paid only: (a) subsequent to the delivery by the Province of a Default Notice or during the Step-In Period, to the Lender, in which case any such payment to the Lender shall be deemed payment to the Contractor under the DBFO DBFM Agreement; or (b) subject to Section 2.2(a), to any account or accounts of the Contractor at any time jointly designated by the Contractor and the Lender and in the absence of such designation, to the Contractor, in either case, for the purpose of calculating a Termination Payment under section 18.8 or 18.9 of the DBFO DBFM Agreement, all payments to such account or accounts or to the Contractor that were required by the terms of the relevant Senior Debt Financing to have been applied towards repayment of the Senior Debt Financing shall be deemed to have been so applied.

Payment to Lender. The Payment, any Progress Payment, any Termination Payment, and all other sums that become payable by the Province to the Contractor under the DBFO Agreement shall be paid only: (a) subsequent to the delivery by the Province of a Default Notice or during the Step-In PeriodNotice, to the Lender, in which case any such payment to the Lender shall be deemed payment to the Contractor under the DBFO Agreement; or (b) subject to Section 2.2(a), to any account or accounts of the Contractor at any time jointly designated by the Contractor and the Lender and in the absence of such designation, to the Contractor, in either case, for the purpose of calculating a Termination Payment under section 18.8 or 18.9 of the DBFO Agreement, all payments to such account or accounts or to the Contractor that were required by the terms of the relevant Senior Debt Financing to have been applied towards repayment of the Senior Debt Financing shall be deemed to have been so applied.