Telekabel Notes Clause Samples

Telekabel Notes. Each borrowing of a portion of the Commitments to be made by Telekabel Wien under this Agreement shall be made against the issue by Telekabel Wien of a Telekabel Note to the Agent. At the same time as and together with a Drawdown Notice in connection with any such Advance to be made to Telekabel Wien, Telekabel Wien shall deliver to the Agent an original Telekabel Note the details set out in which shall correspond to the details of the Advance described in such Drawdown Notice. The Banks shall be under no obligation to make any funds available to Telekabel Wien unless the Agent shall have received such Telekabel Note in a form satisfactory to it. Telekabel Wien hereby authorises the Agent to complete the provisions in each Telekabel Note relating to the calculation of interest payable in connection therewith. On the condition that the relevant Telekabel Note has been duly completed and executed and provided that the conditions set out in clause 3 have been satisfied, the Banks shall contribute to the Advance to be made to Telekabel Wien against the relevant Telekabel Note in accordance with the provisions of clauses 4.2 to 4.8 (inclusive). The Agent shall hold each Telekabel Note for and on behalf of the Banks and shall not part with possession of such Telekabel Note without the consent of the Banks. All payments received by the Agent under any Telekabel Note shall be applied in accordance with the provisions of clause 8. For the avoidance of doubt, for the purposes of the Security Trust Deed, all indebtedness of Telekabel Wien under Telekabel Notes shall constitute "Senior Indebtedness" (as defined in the Security Trust Deed). The Agent shall be entitled to place all Telekabel Notes deposited with it in any safe deposit, safe or receptacle selected by the Agent and the Agent shall not be responsible for any loss incurred in connection with any such deposit.