Common use of Sale of Bankers’ Acceptances Clause in Contracts

Sale of Bankers’ Acceptances. 5.12.1 It shall be the responsibility of each Lender to arrange, in accordance with normal market practice, for the sale on each Drawdown Date of the Bankers’ Acceptances issued by a Borrower and to be accepted by that Lender, failing which the Lender shall purchase its Bankers’ Acceptances. 5.12.2 In accordance with the procedures in Section 5.14, the Agent shall make the net proceeds of the requested Advance by way of Bankers’ Acceptances received by it from the Lenders available to a Borrower on the Drawdown Date by crediting the Designated Account with that amount.

Sale of Bankers’ Acceptances. 5.12.1 It shall be the responsibility of each Lender to arrange, in accordance with normal market practice, for the sale on each Drawdown Date of the Bankers’ ' Acceptances issued by a any Borrower and to be accepted by that Lender, failing which the Lender shall purchase its Bankers’ ' Acceptances. 5.12.2 . In accordance with the procedures in Section 5.148.15, the Agent shall will make the net proceeds of the requested Advance by way of Bankers’ ' Acceptances received by it from the Lenders available to a the relevant Borrower on the Drawdown Date by crediting the Designated Account with that such amount.