Revocation of Borrower’s Payment Sample Clauses

Revocation of Borrower’s Payment. Notwithstanding the provisions of Section 4.04, the Guarantee issued in connection with any Approved Credit shall continue to be binding on Ex-Im Bank with respect to any payment, or any part thereof, of principal or interest on any Debt Document that is rescinded or must otherwise be returned by the Lender or a Debt Holder if such rescission or return of payment has been compelled by law as the result of the bankruptcy or insolvency of the Borrower or any Guarantor, or if such rescission or return of payment is a result of any law, regulation or decree applicable to the Borrower or any Guarantor. A demand on Ex-Im Bank for payment pursuant to the Guarantee of any such returned amount must be made promptly but in no event later than thirty (30) days after the Lender or a Debt Holder has actually returned such amount. At least fifteen (15) days prior to making such demand on Ex-Im Bank, the Lender or affected Debt Holder shall have made demand for payment on the Borrower or any such Guarantor, whichever is the party unaffected by the rescission action.
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Revocation of Borrower’s Payment. The Guarantee shall continue to be binding on DOE, or shall otherwise be reinstated, with respect to the Guaranteed Percentage of any payment, or any part of such a payment, of principal of or interest on the Guaranteed Obligation that is rescinded or must otherwise be returned by the Holders if such rescission or return of payment has been compelled by law as the result of the bankruptcy or insolvency of the Borrower, or if such rescission or return of payment is otherwise the result of any law, regulation or decree applicable to the Borrower, in each case as reflected by final order of a court of competent jurisdiction. The amount payable by DOE under this Section 2.03 shall include interest on the Guaranteed Percentage of the returned amount, accrued at the Guaranteed Interest Rate from the date returned to Borrower to but excluding the date of actual payment thereof by DOE to the Administrative Agent for the benefit of the Holders.
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Revocation of Borrower’s Payment. Notwithstanding the provisions of Section 2.03, the Guarantee shall continue to be binding on the Board with respect to any payment, or any part thereof, of principal of or interest on any Note that is rescinded or must otherwise be returned by the Agent or a Lender if such rescission or return of payment has been compelled by law as the result of the bankruptcy or insolvency of the Borrower or if such rescission or return of payment is a result of any law, regulation or decree applicable to the Borrower. A demand on the Board for payment pursuant to the Guarantee of any such returned amount must be made promptly but in no event later than thirty (30) days after the Agent or a Lender has been compelled to return such amount.
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Revocation of Borrower’s Payment. The Guarantee shall continue to be binding on DOE, or shall otherwise be reinstated, with respect to the Guaranteed Percentage of any payment, or any part of such a payment, of principal of or interest on the Guaranteed Obligation that is rescinded or must otherwise be returned by the Holders if such rescission or return of payment has been compelled by law as the result of the bankruptcy or insolvency of the Borrower, or if such rescission or return of payment is otherwise the result of any law, regulation or decree applicable to the Borrower, in each case as reflected by final order of a court of competent jurisdiction. The amount payable by DOE under this Section 2.03 shall include interest on the Guaranteed Percentage of the returned amount, accrued at the Guaranteed Interest
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Revocation of Borrower’s Payment. 19 SECTION 5. ISSUANCE OF GUARANTEES SECTION 20 5.01 General 20
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Related to Revocation of Borrower’s Payment

  • Location of Borrower The Borrower's place of business (or, if the Borrower has more than one place of business, its chief executive office) is located at the address listed under the Borrower's signature on this Agreement.

  • Condition of Borrower Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrower and any other guarantor such information concerning the financial condition, business and operations of the Borrower and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrower or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to provide the same).

  • Condition of Borrowers Each Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Borrowers and any other guarantor such information concerning the financial condition, business and operations of the Borrowers and any such other guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it any information relating to the business, operations or financial condition of the Borrowers or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to provide the same).

  • Cooperation of Borrower If necessary, Borrower agrees to (i) execute any documents (including new Secured Promissory Notes) reasonably required to effectuate and acknowledge each assignment of a Term Loan Commitment or Loan to an assignee in accordance with Section 12.1, (ii) make Borrower’s management available to meet with Collateral Agent and prospective participants and assignees of Term Loan Commitments or Credit Extensions (which meetings shall be conducted no more often than twice every twelve months unless an Event of Default has occurred and is continuing), and (iii) assist Collateral Agent or the Lenders in the preparation of information relating to the financial affairs of Borrower as any prospective participant or assignee of a Term Loan Commitment or Term Loan reasonably may request. Subject to the provisions of Section 12.9, Borrower authorizes each Lender to disclose to any prospective participant or assignee of a Term Loan Commitment, any and all information in such Lender’s possession concerning Borrower and its financial affairs which has been delivered to such Lender by or on behalf of Borrower pursuant to this Agreement, or which has been delivered to such Lender by or on behalf of Borrower in connection with such Lender’s credit evaluation of Borrower prior to entering into this Agreement.

  • Authorization of Borrowing Etc The execution, delivery and performance of each Loan Document to which it is a party have been duly authorized by all necessary action on the part of each Credit Party.

  • Payment of Other Taxes by Borrower Without limiting the provisions of paragraph (a) above, Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Requirements of Law.

  • Designation of Lead Borrower as Borrowers’ Agent (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as such Borrower’s agent to obtain Credit Extensions, the proceeds of which shall be available to each Borrower for such uses as are permitted under this Agreement. As the disclosed principal for its agent, each Borrower shall be obligated to each Credit Party on account of Credit Extensions so made as if made directly by the applicable Credit Party to such Borrower, notwithstanding the manner by which such Credit Extensions are recorded on the books and records of the Lead Borrower and of any other Borrower. In addition, each Loan Party other than the Borrowers hereby irrevocably designates and appoints the Lead Borrower as such Loan Party’s agent to represent such Loan Party in all respects under this Agreement and the other Loan Documents.

  • Authorization of Borrowing The execution, delivery and performance of the Loan Documents have been duly authorized by all necessary action on the part of each Loan Party that is a party thereto.

  • Payment of Other Taxes by Borrowers Without limiting the provisions of paragraph (a) above, Borrowers shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Requirements of Law.

  • Condition of Borrower or Guarantor The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.

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