Reliquefication bills Clause Samples
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Reliquefication bills. Nothing contained in this certificate releases, relieves or otherwise affects the obligations and the Powers of the Existing Financier in respect of Bills drawn under clause 9 of the Facility Agreement. The New Financier will not assume any obligations, or acquire any Powers, in respect of those Bills.
Reliquefication bills
Reliquefication bills. (a) The Borrower irrevocably and for value authorises each Lender (at the option of the Lender) from time to time:
(i) to prepare reliquefication bills of exchange in relation to a Loan to it denominated in Australian dollars; and
(ii) to sign them as drawer or endorser in the name of and on behalf of the Borrower.
(b) The total face amount of reliquefication bills prepared by any Lender and outstanding in relation to any A$ denominated Loan must not at any time exceed:
(i) that Lender’s share of the principal amount of that Loan; plus
(ii) the total interest on that share over the relevant Interest Period.
(c) Reliquefication bills must mature on or before the last day of the relevant Interest Period.
(d) Each Lender may realise or deal with any reliquefication ▇▇▇▇ prepared by it as it thinks fit.
(i) Each Lender shall indemnify the Borrower on demand against all liabilities, costs and expenses incurred by the Borrower by reason of it being a party to a reliquefication ▇▇▇▇ prepared by that Lender.
(ii) This paragraph (e) does not affect any obligation of the Borrower under the Finance Documents. In particular the obligations of the Borrower to make payments under the Finance Documents are not in any way affected by any liability of a Lender, contingent or otherwise, under this indemnity.
(f) If a reliquefication ▇▇▇▇ is presented to the Borrower and the Borrower discharges it by payment, the amount of that payment will be deemed to have been applied against the moneys payable to that Lender.
Reliquefication bills