Common use of Payments to Banks Clause in Contracts

Payments to Banks. If a Bank (a “Recovering Bank”) applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 (Payments), then such Recovering Bank shall: 27.1.1 notify the Agent of such receipt or recovery; 27.1.2 at the request of the Agent, promptly pay to the Agent an amount (the “Sharing Payment”) equal to such receipt or recovery less any amount which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 (Partial Payments).

Appears in 3 contracts

Samples: Credit Agreement (Ace LTD), Credit Agreement (Ace LTD), Credit Agreement (Ace LTD)

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Payments to Banks. If a Bank (a “Recovering Bank”"RECOVERING BANK") applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 27 (Payments), then such Recovering Bank shall: 27.1.1 29.1.1 notify the Agent of such receipt or recovery; 27.1.2 29.1.2 at the request of the Agent, promptly pay to the Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 27.6 (Partial Payments).

Appears in 2 contracts

Samples: Credit Agreement (NTL Delaware Inc), Credit Agreement (NTL Inc/De/)

Payments to Banks. If a Bank (a "Recovering Bank") applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 26 (Payments), then such Recovering Bank shall: 27.1.1 28.1.1 notify the Agent of such receipt or recovery;; and 27.1.2 28.1.2 at the request of the Agent, promptly pay to the Agent an amount (the "Sharing Payment") equal to such receipt or recovery less any amount 108 which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 26.6 (Partial Payments).

Appears in 1 contract

Samples: Credit Agreement (NTL Inc)

Payments to Banks. If a Bank (a “Recovering Bank”"RECOVERING BANK") applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 31 (Payments), then such Recovering Bank shall: 27.1.1 33.1.1 notify the Agent of such receipt or recovery; 27.1.2 33.1.2 at the request of the Agent, promptly pay to the Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 31.6 (Partial Payments).

Appears in 1 contract

Samples: Credit Agreement (NTL Inc/De/)

Payments to Banks. If a Bank (a “Recovering Bank”"RECOVERING BANK") applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 31 (Payments), then such Recovering Bank shall: 27.1.1 33.1.1 notify the Agent of such receipt or recovery; 27.1.2 33.1.2 at the request of the Agent, promptly pay to the Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 31.5 (Partial Payments).

Appears in 1 contract

Samples: Senior Credit Agreement (Transworld Healthcare Inc)

Payments to Banks. If a Bank (a “Recovering Bank”) applies any receipt or recovery from an Obligor the Borrower to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 (Payments), then such Recovering Bank shall: 27.1.1 notify the Facility Agent of such receipt or recovery; 27.1.2 at the request of the Facility Agent, promptly pay to the Facility Agent an amount (the “Sharing Payment”) equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 (Partial Payments).

Appears in 1 contract

Samples: Facility Agreement (Micron Technology Inc)

Payments to Banks. If a Bank (a "Recovering Bank") applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 31 (Payments), then such Recovering Bank shall: 27.1.1 33.1.1 notify the Facility Agent of such receipt or recovery; 27.1.2 33.1.2 at the request of the Facility Agent, promptly pay to the Facility Agent an amount (the "Sharing Payment") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 31.7 (Partial Payments).

Appears in 1 contract

Samples: Loan Agreement (Getronics N V)

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Payments to Banks. If a Bank (a “Recovering Bank”"RECOVERING BANK") applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 (Payments), then such Recovering Bank shall: 27.1.1 notify the Agent of such receipt or recovery; 27.1.2 at the request of the Agent, promptly pay to the Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 25.6 (Partial Payments).

Appears in 1 contract

Samples: Term Facility Agreement (Zindart LTD)

Payments to Banks. If a Bank (a "Recovering Bank") applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 31 (Payments), then such Recovering Bank shall: 27.1.1 33.1.1 notify the Facility Agent of such receipt or recovery; 27.1.2 33.1.2 at the request of the Facility Agent, promptly pay to the Facility Agent an amount (the "Sharing Payment") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 31.5 (Partial Payments).

Appears in 1 contract

Samples: Credit Agreement (Comple Tel LLC)

Payments to Banks. If a Bank (a Recovering Bank) applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 30 (Payments), then such Recovering Bank shall: 27.1.1 (a) notify the Agent of such receipt or recovery; 27.1.2 (b) at the request of the Agent, promptly pay to the Agent an amount (the Sharing Payment) equal to such receipt or recovery less any amount which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 30.7 (Partial Payments).

Appears in 1 contract

Samples: Loan Agreement (Cemex Sa De Cv)

Payments to Banks. If a Bank (a “Recovering Bank”) applies any receipt or recovery from an Obligor to a payment due under this Agreement and such amount is received or recovered other than in accordance with Clause 25 23 (Payments), then such Recovering Bank shall: 27.1.1 25.1.1 notify the Agent of such receipt or recovery; 27.1.2 25.1.2 at the request of the Agent, promptly pay to the Agent an amount (the “Sharing Payment”) equal to such receipt or recovery less any amount which the Agent determines may be retained by such Recovering Bank as its share of any payment to be made in accordance with Clause 25.5 23.5 (Partial Payments).

Appears in 1 contract

Samples: Exhibit Agreement (Ace LTD)

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