Common use of Utilisation of Funds Clause in Contracts

Utilisation of Funds. 5.1 In addition to the provisions of Part 4 above, if the Company serves a notice of termination in accordance with Clause 18, it shall be entitled: (a) to demand payment of any of the Use of System Charges and any other amounts owed by the User under the Agreement which are outstanding, whether or not the Payment Date in respect of them has passed; and (b) to make demand under any outstanding Qualifying Guarantee or a call under any outstanding Letter of Credit supplied by the User, and the funds in the Escrow Account to the extent that they represent Cover provided by the User shall be released to the Company and set off against the Use of System Charges and any other amount owed by the User under the Agreement that is unpaid by the User, and for that purpose the Company shall be entitled to place any such amount released to it from the Escrow Account to any account of the Company as in its sole discretion it thinks fit.

Utilisation of Funds. 5.1 In addition to the provisions of Part 4 above, if the Company serves a notice of termination in accordance with Clause 18, it 18,it shall be entitled: (a) to demand payment of any of the Use of System Charges and any other amounts owed by the User under the Agreement which are outstanding, whether or not the Payment Date in respect of them has passed; and (b) to make demand under any outstanding Qualifying Guarantee or a call under any outstanding Letter of Credit supplied by the User, and the funds in the Escrow Account to the extent that they represent Cover provided by the User shall be released to the Company and set off against the Use of System Charges and any other amount owed by the User under the Agreement that is unpaid by the User, and for that purpose the Company shall be entitled to place any such amount released to it from the Escrow Account to any account of the Company as in its sole discretion it thinks fit.

Utilisation of Funds. 5.1 In addition to the provisions of Part 4 above, if the Company serves a notice of termination in accordance with Clause 1818 of the Agreement, it shall be entitled: (a) to demand payment of any of the Use of System Charges and any other amounts owed by the User under the Agreement which are outstanding, whether or not the Payment Date in respect of them has passed; and (b) to make demand under any outstanding Qualifying Guarantee or a call under any outstanding Letter of Credit supplied by the User, and the funds in the Escrow Account to the extent that they represent Cover provided by the User shall be released to the Company and set off against the Use of System Charges and any other amount owed by the User under the Agreement that is unpaid by the User, and for that purpose the Company shall be entitled to place any such amount released to it from the Escrow Account to any account of the Company as in its sole discretion it thinks fit.