Common use of Defaulting Banks Clause in Contracts

Defaulting Banks. If a Bank (a "DEFAULTING BANK") fails to make payment on its due date of any amount (an "OVERDUE AMOUNT") due from it for the account of the Issuing Bank pursuant to clause 4.7 (Banks' Guarantee and Indemnity) then until the Issuing Bank (or the Agent on its behalf) has received payment of such overdue amount in full (and without prejudice to any other rights or remedies of the Issuing Bank in respect of such failure):

Defaulting Banks. If a Bank (a "DEFAULTING BANK") fails to make payment on its due date of any amount (an "OVERDUE AMOUNT") due from it for the account of the Issuing Bank pursuant to clause 4.7 (Banks' Guarantee and Indemnity) then until the Issuing Bank (or the Facility Agent on its behalf) has received payment of such overdue amount in full (and without prejudice to any other rights or remedies of the Issuing Bank in respect of such failure):

Defaulting Banks. If a Bank (a "DEFAULTING BANKDefaulting Bank") fails to make payment on its due date of any amount (an "OVERDUE AMOUNToverdue amount") due from it for the account of the Issuing Bank pursuant to clause 4.7 (Banks' Guarantee and Indemnity) then until the Issuing Bank (or the Agent on its behalf) has received payment of such overdue amount in full (and without prejudice to any other rights or remedies of the Issuing Bank in respect of such failure):

Defaulting Banks. If a Bank (a "DEFAULTING BANKDefaulting Bank") fails to make payment on its due date of any amount (an "OVERDUE AMOUNToverdue amount") due from it for the account of the Issuing Bank pursuant to clause 4.7 (Banks' Guarantee and Indemnity) then until the Issuing Bank (or the Facility Agent on its behalf) has received payment of such overdue amount in full (and without prejudice to any other rights or remedies of the Issuing Bank in respect of such failure):

Defaulting Banks. If a Bank (a "DEFAULTING BANKDefaulting Bank") fails to make payment on its due date of any amount (an "OVERDUE AMOUNToverdue amount") due from it for the account of the Issuing Bank pursuant to clause 4.7 4.6 (Banks' Guarantee and Indemnity) then until the Issuing Bank (or the Agent on its behalf) has received payment of such overdue amount in full (and without prejudice to any other rights or remedies of the Issuing Bank in respect of such failure):