Common use of Facility Account Clause in Contracts

Facility Account. The Lender shall open a Euro facility account in the name of the Borrower, designated “Facility Account". Each Borrowing made hereunder shall be debited to the Facility Account, in accordance with this Agreement, value the date of payment of such Borrowing. Repayments and prepayments shall be applied to the Facility Account accordingly.

Facility Account. The Lender shall open a Euro facility account in the name of the Borrower, designated “Facility Account"”. Each Borrowing made hereunder shall be debited to the Facility Account, in accordance with this Agreement, value the date of payment of such Borrowing. Repayments and prepayments shall be applied to the Facility Account accordingly.