FIFTHLY Clause Samples
The clause titled "FIFTHLY" typically serves as the fifth enumerated provision within a contract or legal document, outlining a specific obligation, right, or procedure relevant to the agreement. Its content can vary widely depending on the context, such as specifying payment terms, delivery requirements, or dispute resolution mechanisms. By clearly numbering and separating this provision, the clause helps organize the contract, making it easier for parties to reference and comply with individual terms, thereby reducing ambiguity and potential disputes.
FIFTHLY in payment of the surplus (if any) to the relevant Obligor or any other person entitled to it.
FIFTHLY any surplus shall be paid to the Borrowers or to any other person appearing to be entitled to it.
FIFTHLY in retention of an amount equal to any amount not then due and payable under any Finance Document or the Master Agreement but which the Lender, by notice to the Borrower and the Security Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the provisions of Clause 16.1(a), 16.1(b), 16.1(c) and 16.1(d); and
FIFTHLY in retention of an amount equal to any amount not then due under and payable under the Master Agreement but which the Swap Bank, by notice to the Borrower, the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the foregoing provisions of this Clause; and
FIFTHLY in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Lender, by notice to the Borrower, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the provisions of Clause 77.1(a), 7.1(b), 7.1(c) and 7.1(d); and
FIFTHLY following the occurrence of an Event of Default, in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Lender, by notice to the Borrower and the Security Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the provisions of this Clause; and
FIFTHLY in payment to the Junior Mortgagee for application by the Junior Mortgagee in or towards satisfaction of all moneys owing under the Guarantee and the Junior Mortgage Documents;
FIFTHLY in retention of an amount equal to any amount not then due and payable under any Finance Document but which the Agent, by notice to the Borrower, the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the provisions of Clause 17.1(a), 17.1(b), 17.1(c) and 17.1(d); and
FIFTHLY once the Indebtedness has been repaid to the Lender, to the full satisfaction to the Lender, then any balances shall be paid to the Borrower.
FIFTHLY in retention of an amount equal to any amount not then due and payable under any Master Agreement which relates to a Designated Transactions but which the Agent, by notice to the Borrowers, the Security Parties and the other Creditor Parties, states in its opinion will or may become due and payable in the future and, upon those amounts becoming due and payable, in or towards satisfaction of them in accordance with the provisions of Clause (d); and