Common use of Application of credit balances Clause in Contracts

Application of credit balances. The Lender may, following the occurrence of an Event of Default, and without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, following the occurrence of an Event of Default, and may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower Borrowers (or either of them) at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower Borrowers (or any of them) to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the BorrowerBorrowers (or either of them); (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, Issuer may without prior notice following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower any Obligors at any office in any country of the Lender Issuer in or towards satisfaction of any sum then due from the Borrower Obligors to the Lender Issuer under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrowerany Obligor; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender Issuer considers appropriate.

Application of credit balances. The Lender may, following Upon the occurrence and during the continuance of an Event of Default, and each Creditor Party may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of the Lender that Creditor Party in or towards satisfaction of any sum then due from the Borrower to the Lender that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender Creditor Party concerned considers appropriate.

Application of credit balances. The Lender may, following the occurrence of an Event of Default, and may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower Borrowers (or either of them) at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower Borrowers (or either of them) to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the BorrowerBorrowers (or either of them); (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, may without prior notice following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower Guarantor at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower Guarantor to the Lender under this or any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the BorrowerGuarantor; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, may without prior notice following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower Guarantor at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower Guarantor to the Lender under any of the Finance Documentsthis Guarantee; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the BorrowerGuarantor; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, following At any time after the occurrence of an Event of DefaultDefault which is continuing, and each Creditor Party may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of the Lender that Creditor Party in or towards satisfaction of any sum then due from the Borrower to the Lender that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender Creditor Party concerned considers appropriate.

Application of credit balances. The Lender may, may without prior notice but following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; andand/or (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, may following the occurrence of an Event of Default, Default which is continuing and without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the a Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the that Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the that Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, following the occurrence of an Event of DefaultDefault which is continuing, and without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the a Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the that Borrower to the Lender under any of the Finance Documents; andand/or (b) for that purpose: : 61 (i) break, or alter the maturity of, all or any part of a deposit of the that Borrower; ; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, may without prior notice following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the a Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the that Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the that Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, may without prior notice but following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, may without prior notice but following the occurrence of an Event of Default, and without prior noticeDefault which is continuing: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.

Application of credit balances. The Lender may, following Following the occurrence of and during the continuation of an Event of Default, and the Lender may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the a Borrower at any office in any country of the Lender in or towards satisfaction of any sum then due from the a Borrower to the Lender under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the that Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; and; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Lender considers appropriate.