Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower other than in accordance with Clause 27 (Payment mechanics) and applies that amount to a payment due under the Financing Documents then: (a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent; (b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and (c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 (Partial payments).
Appears in 3 contracts
Samples: Syndicated Credit Agreement, Credit Agreement (France Telecom /), Credit Agreement (France Telecom /)
Payments to Lenders. If a Lender (a “"Recovering Lender”") receives or recovers any amount from the Borrower other than in accordance with Clause 27 Section 4.8 (Payment mechanicsPayments, Computations, etc. ) (a "Recovered Amount") and applies that amount to a payment due under the Financing Loan Documents then:
(a) the Recovering Lender shall, within 3 three (3) Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 (Payment mechanics)the said Section 4.8, without taking account of any Tax taxes which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three (3) Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 (Partial payments)any applicable provisions of this Agreement.
Appears in 3 contracts
Samples: Loan Agreement (Royal Caribbean Cruises LTD), Loan Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 29 (Payment mechanics) or Clause 13.3 (Tax indemnity) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.5 (Partial payments).
Appears in 2 contracts
Samples: Multicurrency Revolving Credit Facility Agreement (Misys PLC), Senior Subordinated Credit Agreement (Misys PLC)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the a Borrower other than in accordance with Clause 27 28 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:: Back to Contents
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 28.5 (Partial payments).
Appears in 2 contracts
Samples: Syndicated Revolving Credit Agreement (Koninklijke KPN N V), Syndicated Revolving Credit Agreement (Koninklijke KPN N V)
Payments to Lenders. If a Lender (a “Recovering Lender”"RECOVERING LENDER") receives or recovers any amount from the Borrower other than in accordance with Clause 27 26 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 26 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 26.5 (Partial payments).
Appears in 1 contract
Samples: Facility Agreement (Sterlite Industries (India) LTD)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the ABB or a Borrower other than in accordance with Clause 27 29 (Payment mechanicsMechanics) (a “Recovered Amount”) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanicsMechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.6 (Partial payments).
Appears in 1 contract
Payments to Lenders. If a Lender (a “"Recovering Lender”") receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 31 (Payment mechanics) and applies that amount to a payment due under the Financing Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 31 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 31.5 (Partial payments).
Appears in 1 contract
Samples: Credit Agreement (Reh Mergersub Inc)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 38 (Payment mechanicsMechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 38 (Payment mechanicsMechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 38.5 (Partial payments).
Appears in 1 contract
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 37 (Payment mechanicsMechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 37 (Payment mechanicsMechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 37.6 (Partial payments).
Appears in 1 contract
Samples: Facility and Subscription Agreement (BHP Billiton PLC)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 29 (Payment mechanics) or Clause 13.3 (Tax indemnity) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.6 (Partial payments).
Appears in 1 contract
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the a Borrower other than in accordance with Clause 27 28 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 28.5 (Partial payments).
Appears in 1 contract
Samples: Syndicated Revolving Credit Agreement (Koninklijke KPN N V)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower ABB or an Obligor other than in accordance with Clause 27 29 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.5 (Partial payments).
Appears in 1 contract
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 29 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.6 (Partial payments).
Appears in 1 contract
Payments to Lenders. If a Lender (a “Recovering Lender”"RECOVERING LENDER") receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 30 (Payment mechanics) or Clause 14.3 (Tax indemnity) and applies that amount to a payment due under the Financing Finance Documents then:
(a) 1.1 the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) 1.2 the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 30 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) 1.3 the Recovering Lender shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 30.5 (Partial payments).
Appears in 1 contract
Samples: Multicurrency Revolving Facility Agreement (Misys PLC)
Payments to Lenders. If a Lender (a “Recovering Lender”"RECOVERING LENDER") receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 28 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 28.5 (Partial payments).
Appears in 1 contract
Samples: Multicurrency Revolving Facility Agreement (International Flavors & Fragrances Inc)
Payments to Lenders. If a Lender (a “Recovering Lender”"RECOVERING LENDER") receives or recovers any amount from the Borrower other than in accordance with Clause 27 (Payment mechanics) 23 and applies that amount to a payment due under the Financing Finance Documents then:, without prejudice to the terms of the Common Terms Agreement (which shall prevail over this Clause 22):
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 (Payment mechanics)23, without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 (Partial payments)23.5.
Appears in 1 contract
Samples: Wassa Project Facility Agreement (Golden Star Resources LTD)
Payments to Lenders. If a Lender (a “Recovering Lender”"RECOVERING LENDER") receives or recovers any amount from the Borrower ABB or an Obligor other than in accordance with Clause 27 28 (Payment mechanicsPAYMENT MECHANICS) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanicsPAYMENT MECHANICS), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 28.5 (Partial paymentsPARTIAL PAYMENTS).
Appears in 1 contract
Samples: Multi Currency Revolving Credit Agreement (Abb LTD)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the a Borrower other than in accordance with Clause 27 29 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.5 (Partial payments).
Appears in 1 contract
Samples: Syndicated Revolving Credit Agreement (Koninklijke KPN N V)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 30 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 30 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 30.5 (Partial payments).
Appears in 1 contract
Samples: Facilities Agreement (Coca-Cola Hellenic Bottling Co Sa)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the a Borrower other than in accordance with Clause 27 28 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 28.5 (Partial payments).. Table of Contents
Appears in 1 contract
Payments to Lenders. If a Lender (a “Recovering Lender”"RECOVERING LENDER") receives or recovers any amount from the Borrower a Chargor other than in accordance with Clause 27 28 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such the receipt or recovery less any amount which the Facility Agent determines may be retained by the Recovering Lender as its share of any payment to be made, made in respect of the receipt or recovery in accordance with Clause 27.5 28.5 (Partial payments).
Appears in 1 contract
Samples: Facility Agreement (Corporate Property Associates 16 Global Inc)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 36 (Payment mechanicsMechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 36 (Payment mechanicsMechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 36.6 (Partial payments).
Appears in 1 contract
Samples: Multicurrency Term and Revolving Facilities and Subscription Agreement (BHP Billiton LTD)
Payments to Lenders. If a Lender (a “"Recovering Lender”") receives or recovers any amount from the a Borrower other than in accordance with Clause 27 29 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.5 (Partial payments).
Appears in 1 contract
Samples: Syndicated Revolving Credit Agreement (Koninklijke KPN N V)
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower ABB or an Obligor other than in accordance with Clause 27 28 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 28.5 (Partial payments).
Appears in 1 contract
Payments to Lenders. If a Lender (a “Recovering Lender”) receives or recovers any amount from the Borrower other than in accordance with Clause 27 28 (Payment mechanics) and applies that amount to a payment due under the Financing Documents then:
(a) the Recovering Lender shall, within 3 Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 28 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 28.5 (Partial payments).
Appears in 1 contract
Samples: Credit Agreement (France Telecom /)
Payments to Lenders. Page 63 If a Lender (a “"Recovering Lender”") receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 Section 4.8 (Payment mechanicsPayments, Computations, etc.) (a "Recovered Amount") and applies that amount to a payment due under the Financing Loan Documents then:
(a) the Recovering Lender shall, within 3 three (3) Business Days, notify details of the receipt or recovery, recovery to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 (Payment mechanics)the said Section 4.8, without taking account of any Tax taxes which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three (3) Business Days of demand by the Facility Agent, 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 the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 (Partial payments)any applicable provisions of this Agreement.
Appears in 1 contract
Payments to Lenders. If a Lender (a “Recovering Lender”"RECOVERING LENDER") receives or recovers any amount from the Borrower an Obligor other than in accordance with Clause 27 29 (Payment mechanics) and applies that amount to a payment due under the Financing Finance Documents then:
(a) the Recovering Lender shall, within 3 three Business Days, notify details of the receipt or recovery, to the Facility Agent;
(b) the Facility Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Lender would have been paid had the receipt or recovery been received or made by the Facility Agent and distributed in accordance with Clause 27 29 (Payment mechanics), without taking account of any Tax which would be imposed on the Facility Agent in relation to the receipt, recovery or distribution; and
(c) the Recovering Lender shall, within three Business Days of demand by the Facility Agent, pay to the Facility Agent an amount (the “Sharing Payment”"SHARING PAYMENT") equal to such receipt or recovery less any amount which the Facility Agent determines may be retained by the Recovering Lender as its share of any payment to be made, in accordance with Clause 27.5 29.5 (Partial payments).
Appears in 1 contract