Examples of Syndicate Account in a sentence
If the distributed amount is returned from the Lender to the Agent and the Agent returns such money to the Syndicate Account, the Borrower’s obligation to repay such money shall be deemed not to have been performed retroactively at the time of the withdrawal from the Syndicate Account.
On the Disbursement Date, the Agent shall transfer the amount remitted to the Agent Account for disbursement of each Lender's Individual Advance, to the Syndicate Account for each Lender.
If there still exists any remaining amount after deducting the amount equivalent to the amount described in Clause 15.4 (1) and Clause 15.4 (2) from the amount withdrawn from the Syndicate Account pursuant to Clause 15, the Agent shall distribute such remaining amount to the Lender in accordance with the provisions of this Clause 16.
When the Agent transfers the amount of the Loan Commitment of each Lender to the Syndicate Account, such Lender is deemed to have disbursed its Individual Advance.
However, if such money was withdrawn from the Syndicate Account pursuant to Clause 8.2 or Clause 8.4, notwithstanding the provisions of this Clause 16, the Agent shall promptly distribute such money to the Lender with Increased Costs as the case may be.