Common use of Payment upon first demand Clause in Contracts

Payment upon first demand. If any of the Borrowers shall fail to pay any sum under the Finance Documents or any Swap Agreement as and when such sum shall become due and payable, the Guarantor shall immediately upon the Agent’s first written demand pay to the Agent for the account of the relevant Finance Party or the Swap Bank an amount equal to such sum which any of the Borrowers shall not have paid, such payment to be made in immediately available funds to the account of the Agent, as the Agent may designate, without set-off or counter-claim and free and clear of and without deduction for or on account of any present or future Taxes.

Payment upon first demand. If any of the Borrowers Borrower shall fail to pay any sum under the Finance Documents or any Swap Agreement as and when such sum shall become due and payable, the Guarantor shall immediately upon the Agent’s first written demand pay to the Agent for the account of the relevant Finance Party or the Swap Bank an amount equal to such sum which any of the Borrowers Borrower shall not have paid, such payment to be made in immediately available funds to the account of the Agent, as the Agent may designate, without set-off or counter-claim and free and clear of and without deduction for or on account of any present or future Taxes.

Payment upon first demand. If any of the Borrowers Borrower shall fail to pay any sum under the Finance Documents or any Swap Agreement as and when such sum shall become due and payable, the each Guarantor shall immediately upon the Agent’s 's first written demand pay to the Agent for the account of the relevant Finance Party or the Swap Bank an amount equal to such sum which any of the Borrowers shall not have paid, such payment to be made in immediately available funds to the account of the Agent, as the Agent may designate, without set-off or counter-claim and free and clear of and without deduction for or on account of any present or future Taxes.