Ancillary Lenders Clause Samples
The Ancillary Lenders clause defines the rights and obligations of lenders who provide ancillary facilities, such as overdrafts, guarantees, or other financial services, in addition to the main loan under a finance agreement. This clause typically outlines how these ancillary lenders are appointed, the terms under which ancillary facilities are made available, and how their claims rank in relation to the primary lenders. By clearly delineating the relationship and priority between ancillary and primary lenders, the clause ensures coordination among all parties and prevents disputes over repayment or facility management.
Ancillary Lenders. (a) This Clause 35 shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to service of notice under Clause 27.17 (Acceleration).
(b) Following service of notice under Clause 27.17 (Acceleration), this Clause 35 shall apply to all receipts or recoveries by Ancillary Lenders except to the extent that the receipt or recovery represents a reduction from the Designated Gross Amount for an Ancillary Facility to its Designated Net Amount.
Ancillary Lenders. This Clause 35 shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to service of notice under Clause 27.17 (Acceleration).
Ancillary Lenders. (a) This Clause 32 (Sharing among the Finance Parties) shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to service of notice under Clause 26.21 (Acceleration).
(b) Following service of notice under Clause 26.21 (Acceleration), this Clause 32 (Sharing among the Finance Parties) shall apply to all receipts or recoveries by Ancillary Lenders except to the extent that the receipt or recovery represents a reduction from the Designated Gross Amount for an Ancillary Facility to its Designated Net Amount.
Ancillary Lenders. Any decision which will affect the rights or obligation of any Ancillary Lender will require its consent also subject as specifically provided otherwise in the Senior Finance Documents. The Ancillary Documents may be amended, varied, waived or modified by agreement between the parties thereto subject as provided in Schedule 8 (Ancillary Facilities).
Ancillary Lenders. (a) This Clause 32 shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to the Agent exercising any of its rights under Clause 26.15 (Acceleration).
(b) Following the exercise by the Agent of any of its rights under Clause 26.15 (Acceleration), this Clause 32 shall apply to all receipts or recoveries by Ancillary Lenders except to the extent that the receipt or recovery represents a reduction of the Gross Outstandings of a Multi-account Overdraft to or towards an amount equal to its Designated Net Amount.
Ancillary Lenders. This Clause 33 shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to service of notice under Clause 28.20 (Acceleration). Following service of notice under Clause 28.20 (Acceleration), this Clause 33 shall apply to all receipts or recoveries by Ancillary Lenders except in respect of an overdraft facility comprising more than one account under an Ancillary Facility provided by an Ancillary Lender, in which case this Clause 33 shall only apply to any surplus receipt or recovery by that Ancillary Lender after the application of set-off of any liabilities owing to it under such overdraft facility against credit balances on any account comprised in such overdraft facility.
Ancillary Lenders. Subject to clause 6 (Ancillary Facilities), any Ancillary Document may be amended or waived by agreement between the parties to that Ancillary Document.
Ancillary Lenders. (a) This Clause 29 shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to the Agent exercising any of its rights under Clause 23.13 (Acceleration).
(b) Following the exercise by the Agent of any of its rights under Clause 23.13 (Acceleration), this Clause 29 shall apply to all receipts or recoveries by Ancillary Lenders except to the extent that the receipt or recovery represents a reduction of the Gross Outstandings of a Multi-account Overdraft to or towards an amount equal to its Net Outstandings. APJ/MSXM/076001.00588/1023271103.9Page 97 Section – Administration
Ancillary Lenders. (a) This Clause 32 shall not apply to any of Deutsche Bank AG or The Royal Bank of Scotland plc in their capacity as an Ancillary Lender at any time prior to service of notice under Clause 27.15 (Acceleration).
(b) Following service of notice under Clause 27.15 (Acceleration), this Clause 32 shall apply, in mutatis mutandis application, in respect of the distribution of payments by any Obligor amongst the Lenders (including the Ancillary Lenders). Table of Contents
Ancillary Lenders. 26.6.1 This Clause 26 shall not apply to any receipt or recovery by a Lender in its capacity as an Ancillary Lender at any time prior to service of notice under clause 7.2 (Consequences of an Event of Default and delivery of an Acceleration Notice) of the Common Terms Agreement.
26.6.2 Following service of notice under clause 7.2 (Consequences of an Event of Default and delivery of an Acceleration Notice) of the Common Terms Agreement, this Clause 26 shall apply to all receipts or recoveries by Ancillary Lenders.