Common use of Refunding of Payments Clause in Contracts

Refunding of Payments. The PIK Facility Agent shall not be obliged to make available to any person any sum which it is expecting to receive for the account of that person until it has been able to establish that it has received that sum. However it may do so if it wishes. If and to the extent that it does so but it transpires that it had not then received the sum which it paid out: (a) the person to whom the PIK Facility Agent made that sum available shall on request refund it to the PIK Facility Agent; and (b) the person by whom that sum should have been made available or, if that person fails to do so the person to whom that sum should have been made available, shall on request pay to the PIK Facility Agent the amount (as certified by the PIK Facility Agent) which will indemnify the PIK Facility Agent against any funding cost incurred by it as a result of paying out that sum before receiving it, provided that the Company will not have any obligation to refund any such sum received by it in relation to the Offer, any Compulsory Acquisition Procedure, the 2006 Target Bonds and any Tender and paid by it (or on its behalf); (i) to any third party in accordance with the Funds Flow Memorandum; or (ii) to shareholders of the Target in satisfaction of any purchase price paid in respect of their Target Shares or the holders of the Target Bonds or the 2006 Target Bonds in respect of the purchase or redemption thereof.

Appears in 2 contracts

Samples: Pik Facility Agreement (Nordic Telephone CO ApS), Pik Facility Agreement (Nordic Telephone CO ApS)

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Refunding of Payments. The PIK Facility Agent shall not be obliged to make available to any person any sum which it is expecting to receive for the account of that person until it has been able to establish that it has received that sum. However it may do so if it wishes. If and to the extent that it does so but it transpires that it had not then received the sum which it paid out: (a) the person to whom the PIK Facility Agent made that sum available shall on request refund it to the PIK Facility Agent; and (b) the person by whom that sum should have been made available or, if that person fails to do so the person to whom that sum should have been made available, shall on request pay to the PIK Facility Agent the amount (as certified by the PIK Facility Agent) which will indemnify the PIK Facility Agent against any funding cost incurred by it as a result of paying out that sum before receiving it, provided that the Company no Borrower will not have any obligation to refund any such sum received by it in relation to the Offer, any Compulsory Acquisition Procedure, the 2006 Target Bonds Bonds, and any Tender and paid by it (or on its behalf); (i) to any third party in accordance with the Funds Flow Memorandum; or (ii) to shareholders of the Target in satisfaction of any purchase price paid in respect of their Target Shares or to the holders of the Target Bonds or the 2006 Target Bonds in respect of the purchase or redemption thereof.

Appears in 2 contracts

Samples: Senior Facilities Agreement (Nordic Telephone CO ApS), Senior Facilities Agreement (Nordic Telephone CO ApS)

Refunding of Payments. The PIK Bridge Facility Agent shall not be obliged to make available to any person any sum which it is expecting to receive for the account of that person until it has been able to establish that it has received that sum. However it may do so if it wishes. If and to the extent that it does so but it transpires that it had not then received the sum which it paid out: (a) the person to whom the PIK Bridge Facility Agent made that sum available shall on request refund it to the PIK Bridge Facility Agent; and (b) the person by whom that sum should have been made available or, if that person fails to do so the person to whom that sum should have been made available, shall on request pay to the PIK Bridge Facility Agent the amount (as certified by the PIK Bridge Facility Agent) which will indemnify the PIK Bridge Facility Agent against any funding cost incurred by it as a result of paying out that sum before receiving it, provided that the Company Borrower will not have any obligation to refund any such sum received by it in relation to the Offer, any Compulsory Compulsary Acquisition Procedure, the 2006 Target Bonds Bonds, and any Tender and paid by it (or on its behalf); (i) to any third party in accordance with the Funds Flow Memorandum; or (ii) to shareholders of the Target in satisfaction of any purchase price paid in respect of their Target Shares or to the holders of the Target Bonds or the 2006 Target Bonds in respect of the purchase or redemption thereof.

Appears in 1 contract

Samples: Bridge Facility Agreement (Nordic Telephone CO ApS)

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Refunding of Payments. The PIK Facility Agent shall not be obliged to make available to any person any sum which that it is expecting to receive for the account of that person until it has been able to establish that it has received that sum. However However, it may do so if it wishes. If and to the extent that it the Facility Agent does so but it transpires that it had the Facility Agent has not then received the sum which it paid out: (a) the person to whom the PIK Facility Agent made that sum available shall on request demand refund it such corresponding amount to the PIK Facility Agent; and (b) the person by whom that sum should have been made available or, if that person fails to do so the person to whom that sum should have been made available, shall on request demand pay to the PIK Facility Agent the amount (as certified by the PIK Facility Agent) which will indemnify the PIK Facility Agent against any funding cost incurred by it as a result of paying out that sum before receiving it, provided that the Company no Borrower will not have any obligation to refund any such sum amount received by it in relation to (i) on the Offer, any Compulsory Acquisition Procedure, the 2006 Target Bonds and any Tender First Utilisation Date and paid by it (or on its behalf); (i) to any third party in accordance with the Funds Flow Memorandum; or Document or (ii) to shareholders if after the Closing Date paid by it (or on its behalf), as consideration for the Acquisition or (iii) in repayment of Financial Indebtedness of a member of the Target in satisfaction of any purchase price paid in respect of their Target Shares or Group that was outstanding on the holders of the Target Bonds or the 2006 Target Bonds in respect of the purchase or redemption thereofClosing Date.

Appears in 1 contract

Samples: Senior Facilities Agreement (Toys R Us Inc)

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