REPAYMENTS AND FACILITY LIMITS Clause Samples

REPAYMENTS AND FACILITY LIMITS. (a) The relevant Borrower shall from time to time on demand of the Agent make such prepayments as may be necessary to ensure that the IP Loan at no time exceeds 20 per cent of the then most recent IP Valuation. (b) The relevant Borrower shall from time to time on demand of the Agent make such prepayments as may be necessary to ensure that the Property Loan at no time exceeds 80 per cent of the then most recent Property Valuation. (c) Any amounts repaid pursuant to (a) or (b) above shall be applied against the relevant repayment instalments under Clause 10.5 (Repayment of Term Loans) in reverse order of maturity. (d) If at any time and for any reason (whether by reason of any Receivables ceasing to be Eligible Receivables, any Stock ceasing to be Eligible Stock, by reason of any fluctuation in the rate of exchange of any currency as against sterling, whether affecting the Sterling Equivalent of any outstanding Utilisations, the Sterling Equivalent value of any Receivable or of any Stock or otherwise howsoever) any outstanding Utilisations cause any Availability Limit to be exceeded, then the Company will immediately repay or procure the repayment of such amounts (together with accrued interest on such amounts) as may be necessary to remedy the position. If necessary for that purpose, the Company shall also provide or procure the provision of cash cover to the Agent in respect of any Outstanding Purchase Price and/or any contingent obligations assumed by the Agent or the Lenders pursuant to this Agreement.