Common use of SPECIFIC PROVISIONS FOR THE MULTIPRODUCT FACILITY WHEREBY CREDIT LINE SUBCEILINGS ARE GRANTED Clause in Contracts

SPECIFIC PROVISIONS FOR THE MULTIPRODUCT FACILITY WHEREBY CREDIT LINE SUBCEILINGS ARE GRANTED. If, within the Multiproduct Facility, Credit Facilities have been granted in other currencies than the Reference Currency, and by a full utilisation of the credit line Subceilings the Available Credit Limit would be exceeded, the Bank will automatically block a part of the value of the credit line Subceilings in order not to allow the exceeding of the Available Facility Limit. The amount which is blocked shall be calculated as the aggregate sum of the credit line Subceilings which would determine, if used, the exceeding of the Available Facility Limit. The amount blocked at the level of each credit line Subceilings is pro rata to the value of the undrawn amounts from each relevant Subceiling by reference to the value of the undrawn amounts at the time of blocking.

Appears in 4 contracts

Samples: General Conditions for Credit Facilities, General Conditions for Credit Facilities, General Conditions for Credit Facilities

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!