Recovering Finance Party definition
Recovering Finance Party has the meaning given to Clause 34.1 (Payments to Finance Parties).
Recovering Finance Party has the meaning given to it in Clause 29.1 (Redistribution). “Recovery” has the meaning given to it in Clause 29.1 (Redistribution). “Redistribution” has the meaning given to it in Clause 29.1(c) (Redistribution).
Recovering Finance Party has the meaning given to it in Clause 27.1 (Payments to Finance Parties); Redistributed Amount has the meaning given to it in Clause 27.4 (Reversal of redistribution); Reference Bank Quotation means any quotation supplied to the Facility Agent by a Reference Bank; Reference Bank Rate means the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Facility Agent at its request by the Reference Banks as either: 1.
Examples of Recovering Finance Party in a sentence
On a distribution by the Agent under Clause 34.2 (Redistribution of payments) of a payment received by a Recovering Finance Party from an Obligor, as between the relevant Obligor and the Recovering Finance Party, an amount of the Recovered Amount equal to the Sharing Payment will be treated as not having been paid by that Obligor.
The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other than the Recovering Finance Party) (the “Sharing Finance Parties”) in accordance with Clause 35.6 (Partial payments) towards the obligations of that Obligor to the Sharing Finance Parties.