DEEMED UTILISATIONS Sample Clauses
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DEEMED UTILISATIONS. If the Agent makes any payment (i) pursuant to or in respect of any L/C or (ii) upon the maturity of any Forex Transaction, then (and in each such case) the Obligor for whose account such payment was made shall be deemed on the date of such payment to have received the proceeds of a Utilisation. A Utilisation so deemed to be made shall, at the option of the Agent, be deemed to be either a payment of the Outstanding Purchase Price or a Revolving Loan and the other provisions of this Agreement (as to Purchase Commission, interest, repayment and otherwise) shall apply to such Utilisation accordingly. The Agent may give effect to the provisions of this Clause 6.7 even though this may cause any of the limits referred to in this Clause 6 to be exceeded. If it can do so, the Agent shall allocate such Utilisation in such manner as not to cause a Default.
DEEMED UTILISATIONS. All payments made by Burdale:
(a) in accordance with the terms of any L/C or any guarantee or indemnity given by Burdale to the issuer of any L/C (as the case may be); and
(b) on the maturity of any Forex Transaction, shall be deemed to be a payment to the relevant Facility Company in an amount equal to such payment, as if such Facility Company had lodged a Cash Request for such amount and subject to the provisions of this Agreement with respect to Utilisations of the Receivables Finance Facility and/or the Revolving Credit Facility (including, without limitation, as to interest, purchase commission and repayment).
DEEMED UTILISATIONS. If the Lender makes any payment pursuant to or in respect of any L/C then the Obligor for whose account such payment was made shall be deemed on the date of such payment to have received the proceeds of a Utilisation. A Utilisation so deemed to be made shall be deemed to be a Revolving Loan and the other provisions of this Agreement (as to interest, repayment and otherwise) shall apply to such Utilisation accordingly.
DEEMED UTILISATIONS. If the Agent makes any payment pursuant to or in respect of any L/C, the Obligor for whose account such payment was made shall be deemed on the date of such payment to have received the proceeds of a Utilisation. A Utilisation so deemed to be made shall be deemed to be a Revolving Loan and the other provisions of this Agreement (as to interest, repayment and otherwise) shall apply to such Utilisation accordingly. The Agent shall give notice to the Senior Lenders of any Utilisation deemed to be made pursuant to this Clause 6.9 and the Senior Lenders shall thereupon make available to the Agent their respective participations in such Utilisation as if a Cash Request had been given in relation to the amount concerned. The obligation of the Senior Lenders to pay such amounts shall be unconditional in all respects and shall not be affected by the existence of an Event of Default or any other matter whatsoever.