Common use of Accordion Clause in Contracts

Accordion. (a) Subject to clause 2.5 (Conditions) and the Borrower’s written request, the Lender may (but is not obliged to) agree to provide additional funding (the Accordion) to the Borrower (or as the Parties may otherwise agree), in which case the Parties shall apply the following terms (without prejudice to the Parties’ right to agree otherwise in writing): (i) the Accordion being provided in the following (2) tranches: (A) USD20,000,000; and (B) USD30,000,000, in each case, to be provided: (A) by the Lender to the Borrower (or as the Parties otherwise agree) in one (I) or several instalments (for the avoidance of doubt, this clause shall not limit the number of such instalments) as the Parties may agree in writing or, if so agreed between the Parties in writing, as the as the Interim CEO reasonably directs, in which case clause 2.3(c) shall apply mutatis mutandis; and (B) subject to the Parties agreeing the business plan of the Borrower; (ii) any obligation to provide the Accordion commencing on the expiry of thirty (30) days following the first Initial Loan Disbursement Date or as the Parties otherwise agree in writing; and (iii) such other terms and conditions being agreed between the Patties, which shall be at all times consistent with the terms and conditions of the Initial Loan set out in this Agreement. (b) Unless the Patties agree otherwise in writing, clauses 2.3(f) and 2.3(g) shall apply mutatis mutandis to the Accordion provided pursuant to this clause 2.4.

Accordion. (a) Subject to clause 2.5 (Conditions) and the Borrower’s written request, the Lender may (but is not obliged to) agree to provide additional funding (the Accordion) to the Borrower (or as the Parties may otherwise agree), in which case the Parties shall apply the following terms (without prejudice to the Parties’ right to agree otherwise in writing): (i) the Accordion being provided in the following (2) tranches: (A) USD20,000,000; and (B) USD30,000,000, in each case, to be provided: (A) by the Lender to the Borrower (or as the Parties otherwise agree) in one (I1) or several instalments (for the avoidance of doubt, this clause shall not limit the number of such instalments) as the Parties may agree in writing or, if so agreed between the Parties in writing, as the as the Interim CEO reasonably directs, in which case clause 2.3(c) shall apply mutatis mutandis; and (B) subject to the Parties agreeing the business plan of the Borrower; (ii) any obligation to provide the Accordion commencing on the expiry of thirty (30) days following the first Initial Loan Disbursement Date or as the Parties otherwise agree in writing; and (iii) such other terms and conditions being agreed between the PattiesParties, which shall be at all times consistent with the terms and conditions of the Initial Loan set out in this Agreement. (b) Unless the Patties Parties agree otherwise in writing, clauses 2.3(f) and 2.3(g) shall apply mutatis mutandis to the Accordion provided pursuant to this clause 2.4.