SIMEST Refund Amounts Clause Samples

SIMEST Refund Amounts. (a) If: (i) the Agent has notified the Borrower that the IMUA or the subsidy thereunder in respect of that Fixed Rate Loan has been revoked or terminated; and (ii) with respect to the period starting from the date on which the event that resulted in the termination or revocation of the IMUA or the subsidy thereunder occurred and ending on the date of the notice referred to in sub-paragraph (i) above (the "IMUA Overrun Period"), interest net payments with respect to that Fixed Rate Loan have been made by SIMEST and/or the Lenders under the IMUA (each being an "IMUA Payment"), and: (A) if: (1) during the IMUA Overrun Period, the aggregate amount of all the IMUA Payments made by SIMEST is in excess of the aggregate amount of all the IMUA Payments made by the Lenders; and (2) S▇▇▇▇▇ has requested to the Agent, pursuant to the IMUA, to return any such excess amount, the Borrower shall pay to the Agent (for the account of the Lenders) an amount equal to that excess within fifteen (15) Business Days of demand by the Agent; or (B) if during the IMUA Overrun Period the aggregate amount of all the IMUA Payments made by the Lenders are in excess of the aggregate amount of all the IMUA Payments made by SIMEST, the Borrower shall be entitled to request to the Lenders (acting through the Agent) to claim any such excess amount from SIMEST pursuant to the IMUA and the Lenders (acting through the Agent) shall: (1) claim that excess amount from SIMEST within fifteen (15) Business Days of the request made by the Borrower; and (2) return to the Borrower any amount paid by S▇▇▇▇▇ in that respect promptly upon receipt. (b) If the Agent has notified the Borrower that the IMUA has been revoked by SIMEST due to an IMUA Revocation Event specified in sub-paragraph (ii) of paragraph (a) of Clause 10.9 (SIMEST Break Cost) which is attributable (in whole or in part) to an act or an omission of the Borrower, then the Borrower shall pay to SIMEST (through the Agent), within fifteen (15) Business Days of demand by SIMEST, an amount equal to the difference (if positive) between: (i) the aggregate amount of all IMUA Payments made by SIMEST in respect of that Fixed Rate Loan during the period starting from the date on which the IMUA has entered into force and the date of that IMUA Revocation Event; and (ii) the aggregate amount of all IMUA Payments made by the Lenders in respect of that Fixed Rate Loan during the same period. (c) The Agent shall promptly notify the Borrower of any amount pay...