Common use of Prepayment of Swap Benefit Clause in Contracts

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be applied in prepayment of the Loan and authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall may, in the sole discretion of the Swap Bank, instead be applied in prepayment of the Loan in accordance with the provisions of Clause 8.11(a) and irrevocably authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower Borrowers under the Master Agreement, the Borrower Borrowers hereby agrees agree that such payment shall be applied in prepayment of the Loan in accordance with the provisions of Clause 8.11(a) and authorises authorise the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the a Swap Bank would be obliged to pay an amount to the Borrower under the Master AgreementAgreement to which that Swap Bank is a party, the Borrower hereby agrees that such payment shall be applied in prepayment of the Loan and authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be applied in prepayment of the Loan in accordance with Clause 8.13 and authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be applied in prepayment of the Loan in accordance with Clause 8.11 and authorises the Swap Bank to pay such amount to the Facility Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be applied in prepayment of the Loan in accordance with Clause 8.12 and authorises the Swap Bank to pay such amount to the Facility Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated during the Security Period in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be paid to the Agent to be applied by the Agent in prepayment of the Loan accordance with Clause 17 and authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the any Borrower under the a Master Agreement, the each Borrower hereby agrees that such payment shall be applied in prepayment of the Loan in accordance with Clause 8.11 and authorises the Swap Bank to pay such amount to the Facility Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be paid to the Agent to be applied by the Agent in prepayment of the Loan accordance with Clause 17 and authorises the Swap Bank to pay such amount to the Agent for such purpose; following such payment the Swap Bank is discharged from any liability or obligations under that Designated Transaction.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower Borrowers under the Master Agreement, the Borrower Borrowers hereby agrees agree that such payment shall be applied in prepayment of the Loan in accordance with the provisions of Clause 8.10(b) and authorises authorise the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated if so required by the Swap Bank in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower Borrowers under the Master Agreement, the Borrower Borrowers hereby agrees agree that such payment shall be applied in prepayment of the Loan in accordance with the provisions of Clause 8.11(a) and authorises irrevocably authorise the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be applied in prepayment of the Loan in accordance with Clause 9.5 and authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the a Swap Bank would be obliged to pay an amount to the Borrower Borrowers under the relevant Master Agreement, the Borrower Borrowers hereby agrees agree that such payment shall shall, if an Event of Default is continuing at that time, be applied in prepayment of the Loan in accordance with Clause 8.10(a) and authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall shall, if an Event of Default is continuing at that time, be applied in prepayment of the Loan in accordance with Clause 8.10(a) and authorises the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower Borrowers under the Master Agreement, the Borrower Borrowers hereby agrees agree that such payment shall be applied in prepayment of the Loan in accordance with the Provisions of Clause 8.10(b) and authorises authorise the Swap Bank to pay such amount to the Agent for such purpose.

Prepayment of Swap Benefit. If a Designated Transaction is terminated in circumstances where the Swap Bank would be obliged to pay an amount to the Borrower under the Master Agreement, the Borrower hereby agrees that such payment shall be applied in prepayment of the Loan in accordance with Clause 9.11 and authorises the Swap Bank to pay such amount to the Agent for such purpose.