Common use of Notification to Bank Clause in Contracts

Notification to Bank. As soon as practicable after receipt of a Utilisation Notice in respect of a WC Advance complying with the terms of this Agreement, the Agent shall notify the Working Capital Bank and, subject to clause 3, the Working Capital Bank shall on the Utilisation Date, make available to the Agent the principal amount of the relevant WC Advance in accordance with clause 9.2.

Appears in 2 contracts

Sources: Loan Agreement (Global Telesystems Inc), Loan Agreement (Global Telesystems Europe B V)