Common use of Return of Payment Clause in Contracts

Return of Payment. If the Creditor Equity Rights Offering is not consummated, any cash paid to the Subscription Agent will be returned, without interest except in the case of a Debt Commitment Party, to the applicable Eligible Holder as soon as reasonably practicable, but in any event within five Business Days, after the date on which the Creditor Equity Rights Offering is terminated.

Appears in 2 contracts

Samples: Investment Agreement (North Atlantic Drilling Ltd.), Investment Agreement (Seadrill LTD)

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Return of Payment. If the Creditor Equity Debt Rights Offering is not consummated, any cash paid to the Subscription Agent will be returned, without interest except in the case of a Debt Commitment Party, to the applicable Eligible Holder as soon as reasonably practicable, but in any event within five Business Days, after the date on which the Creditor Equity Debt Rights Offering is terminated.

Appears in 2 contracts

Samples: Investment Agreement (North Atlantic Drilling Ltd.), Investment Agreement (Seadrill LTD)

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