Common use of Payments by the Agent Generally Clause in Contracts

Payments by the Agent Generally. With respect to the payment of ------------------------------- any amount denominated in the euro or in a national currency unit, the Agent shall not be liable to a Borrower or any of the Banks in any way whatsoever for any delay, or the consequences of any delay, in the crediting to any account of any amount required by this Agreement to be paid by the Agent if the Agent shall have taken all relevant steps to achieve, on the date required by this Agreement, the payment of such amount in immediately available, freely transferable, cleared funds (in the euro unit or, as the case may be, in a national currency unit) to the account with the bank in the principal financial center in the participating member state which the Company or, as the case may be, any Bank shall have specified for such purpose. In this subsection (h), "all relevant steps" means all such steps as may be prescribed from time to time by the regulations or operating procedures of such clearing or settlement system as the Agent may from time to time determine for the purpose of clearing or settling payments of the euro.

Appears in 2 contracts

Samples: Revolving Multicurrency Credit Agreement (Johns Manville Corp /New/), Revolving Multicurrency Credit Agreement (Johns Manville International Group Inc)

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Payments by the Agent Generally. With respect to the payment of ------------------------------- any amount denominated in the euro or in a national currency unit, the Agent shall not be liable to a the Borrower or any of the Banks in any way whatsoever for any delay, or the consequences of any delay, in the crediting to any account of any amount required by this Agreement to be paid by the Agent if the Agent shall have taken all relevant steps to achieve, on the date required by this Agreement, the payment of such amount in immediately available, freely transferable, cleared funds (in the euro unit or, as the case may be, in a national currency unit) to the account with the bank in the principal financial center in the participating member state which the Company Borrower or, as the case may be, any Bank shall have specified for such purpose. In this subsection paragraph (hg), "all relevant steps" means all such steps as may be prescribed from time to time by the regulations or operating procedures of such clearing or settlement system as the Agent may from time to time reasonably determine for the purpose of clearing or settling payments of the euro.

Appears in 1 contract

Samples: Revolving Credit Agreement (Schein Henry Inc)

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Payments by the Agent Generally. With respect to the payment of ------------------------------- any amount denominated in the euro or in a national currency unit, the Agent shall not be liable to a Borrower or any of the Banks Loan Parties, any of the Lenders or the Issuer in any way whatsoever for any delay, or the consequences of any delay, in the crediting to any account of any amount required by this Agreement any Loan Document to be paid by the Agent if the Agent shall have taken all relevant steps to achieve, on the date required by this Agreementsuch Loan Document, the payment of such amount in immediately available, freely transferable, cleared funds (in the euro unit or, as the case may be, in a national currency unit) to the account with the bank in the principal financial center in the participating member state which the Company orrelevant Loan Party, Lender or Issuer, as the case may be, any Bank shall have specified for such purpose. In this subsection (hg), "β€œall relevant steps" ” means all such steps as may be prescribed from time to time by the regulations or operating procedures of such clearing or settlement system as the Agent may from time to time determine for the purpose of clearing or settling payments of the euro.

Appears in 1 contract

Samples: Credit Agreement (Euramax International PLC)

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