Common use of Repayment of advance Clause in Contracts

Repayment of advance. If the Fiscal Agent should pay an amount (an "advance") to the Issuer in the belief that a payment has been or will be received from a Dealer, and if such payment is not received by the Fiscal Agent on the date that the Fiscal Agent pays the Issuer, the Issuer shall forthwith repay the advance (unless prior to such repayment the payment is received from the Dealer) and shall pay interest on such amount which shall accrue (as well after as before judgment) on the basis of a year of three hundred and sixty five days (three hundred and sixty six days in the case of a leap year) in the case of an advance paid in sterling or three hundred and sixty days in the case of an advance paid in any other currency and, in either case, the actual number of days elapsed from the date of payment of such advance until the earlier of (i) repayment of the advance or (ii) receipt by the Fiscal Agent of the payment from the Dealer, and at the rate per annum quoted by the Fiscal Agent at the time as its cost of funding the advance and provided that evidence of the basis of such rate is given to the Issuer.

Repayment of advance. If the Fiscal Agent should pay an amount (an "advance") to the Issuer or the Guarantors in the belief that a payment has been or will be received from a Dealer, and if such payment is not received by the Fiscal Agent on the date that the Fiscal Agent pays the IssuerIssuer or the Guarantors, the Issuer (or, in default, the Guarantors) shall forthwith repay the advance (unless prior to such repayment the payment is received from the Dealer) and shall pay interest on such amount which shall accrue (as well after as before judgment) on the basis of a year of three hundred and sixty five 365 days (three hundred and sixty six 366 days in the case of a leap year) in the case of an advance paid in sterling or three hundred and sixty 360 days in the case of an advance paid in any other currency and, in either case, the actual number of days elapsed from the date of payment of such advance until the earlier of (i) repayment of the advance or (ii) receipt by the Fiscal Agent of the payment from the Dealer, and at the rate per annum quoted which is the aggregate of one per cent. per annum and the rate specified by the Fiscal Agent at the time as reflecting its cost of funding funds for the advance and time being in relation to the unpaid amount, provided that evidence of the basis of such rate is given to the Issuer.