Common use of Acceptances and Drafts Clause in Contracts

Acceptances and Drafts. Each Revolving Facility Lender severally agrees, on the terms and conditions of the Credit Agreement to which this Schedule 2.13(g) is attached, and this Schedule 2.13(g), (i) in the case of a B/A Lender, to create Bankers’ Acceptances by accepting Drafts and to purchase such Bankers’ Acceptances in accordance with Section 6 of this Schedule 2.13(g) and the Credit Agreement and (ii) in the case of a Non-B/A Lender, to purchase completed Drafts (which have not and will not be accepted by such Lender or any other Revolving Facility Lender) in accordance with Section 6 of this Schedule 2.13(g) and the Credit Agreement.

Appears in 2 contracts

Sources: Incremental Assumption Agreement (Mallinckrodt PLC), Credit Agreement (Mallinckrodt PLC)