Common use of Suspense Accounts Clause in Contracts

Suspense Accounts. Any money received in connection with this Guarantee (whether before or after any Incapacity of any Obligor) may be placed to the credit of a suspense account with a view to preserving the rights of the Finance Parties to prove for the whole of their respective claims against any Obligor or any other person liable or may be applied in or towards satisfaction of the Guaranteed Liabilities as the Agent may from time to time conclusively determine in its absolute discretion.

Appears in 5 contracts

Sources: Supplemental Agreement (Modern Times Group MTG Ab /Publ/ /Adr/), Revolving Credit Facility Agreement (Modern Times Group MTG Ab /Publ/ /Adr/), Loan Agreement (Global Telesystems Inc)

Suspense Accounts. Any money received in connection with this Guarantee (whether before or after any Incapacity of any Obligor) may be placed to the credit of a suspense account (bearing interest at a commercial rate) with a view to preserving the rights of the Finance Parties to prove for the whole of their respective claims against any Obligor or any other person liable or may be applied in or towards satisfaction of the Guaranteed Liabilities as the Agent may from time to time conclusively determine in its absolute discretion.

Appears in 1 contract

Sources: Loan Agreement (Versatel Telecom International N V)

Suspense Accounts. Any money received in connection with this Guarantee (whether before or after any Incapacity of any Obligor) may be placed to the credit of a suspense account with a view to preserving the rights of the Finance Secured Parties to prove for the whole of their respective claims against any Obligor or any other person liable or may be applied in or towards satisfaction of the Guaranteed Liabilities as in accordance with the Agent may from time to time conclusively determine in its absolute discretionSecurity Deed.

Appears in 1 contract

Sources: Loan Agreement (United International Holdings Inc)