Offshore Account definition
Examples of Offshore Account in a sentence
The Offshore Account Bank accepts such designation and appointment in accordance with and limited to the terms and conditions of this Agreement.
The Offshore Account Bank shall at all times be an Acceptable Bank.
Such instructions must be received by not later than 9:00 a.m. (Paris time) two (2) Business Days prior to the proposed payment date in order to ensure that any payment will be made for value on the proposed payment date, provided that the Borrower shall use its reasonable endeavours to ensure that, to the extent reasonably practicable, instructions are given to the Offshore Account Bank by 9:00 a.m. (Paris time) not less than three (3) Business Days prior to the proposed payment date.
The Offshore Account Bank may accept deposits from, lend money to and generally engage in any kind of lending or other business with any party to any Finance Document.
Each of the other Parties agrees that it will not assert or seek to assert against any director, officer or employee of the Offshore Account Bank any claim it might have against the Offshore Account Bank in respect of the matters referred to in Clause 28.5 (Exclusion of the Offshore Account Bank’s Liability).
The Offshore Account Bank shall not be responsible for the accuracy and/or completeness of any information supplied in connection with any Finance Document or for the legality, validity, effectiveness, adequacy or enforceability of any Finance Document nor shall it be under any liability as a result of taking or omitting to take any action in relation to the Project Accounts (other than the Collection Account) save in the case of its gross negligence or wilful misconduct.
Any such conversion by the Account Bank shall be made at rates of exchange which are generally applicable to similar transactions carried out by the Offshore Account Bank for its corporate customers.
Any representation or statement made or deemed to be made by an Obligor in this Agreement, the MergerCo Share Charge or the Offshore Account Charge is or proves to have been incorrect or misleading in any material respect when made or deemed to be made.
Notwithstanding anything to the contrary in this Agreement or the Offshore Account Charge, at any time after full repayment of Tranche A, the Borrower may prepay the whole or any part of the Loan in accordance with Clause 7.3 (Voluntary prepayment of the Loan ) with any of the monies subject to the Offshore Account Charge, in which case the Lender shall cause such monies to be released from the Offshore Account Charge concurrently with such prepayment.
The Offshore Account Bank may at any time (without assigning any reason therefor) notify the Agent and the Borrower in writing that it wishes to cease to be the Offshore Account Bank hereunder and, upon receipt of such notice, the Agent may, following consultation with the Borrower, nominate another Lender as a successor to the Offshore Account Bank.