Common use of Alternative Payment Clause in Contracts

Alternative Payment. ARRANGEMENTS If, at any time, it shall become impracticable (by reason of any action of any governmental authority or any change in law, exchange control regulations or any similar event) for any or all of the Obligors to make any payments hereunder in the manner specified in Clause 29.1 (Payments to the Agents), then such Obligor may agree with each or any of the Banks alternative arrangements for the payment direct to such Bank of amounts due to such Bank hereunder Provided that, in the absence of any such agreement with any Bank, such Obligor shall be obliged to make all payments due to such Bank in the manner specified herein. Upon reaching such agreement such Obligor and such Bank shall immediately notify the appropriate Agent thereof and shall thereafter promptly notify such Agent of all payments made direct to such Bank.

Alternative Payment. ARRANGEMENTS If, at any time, it shall become impracticable (by reason of any action of any governmental authority or any change in law, exchange control regulations or any similar event) for any or all of the Obligors Borrower to make any payments hereunder in the manner specified in Clause 29.1 17.1 (Payments to the AgentsFacility Agent), then such Obligor the Borrower may agree with each or any of the Banks alternative arrangements for the payment direct to such Bank of amounts due to such Bank hereunder Provided that, in the absence of any such agreement with any Bank, such Obligor the Borrower shall be obliged to make all payments due to such Bank in the manner specified herein. Upon reaching such agreement such Obligor the Borrower and such Bank shall immediately notify the appropriate Facility Agent thereof and shall thereafter promptly notify such the Facility Agent of all payments made direct to such Bank.