Common use of Deemed Utilisation Clause in Contracts

Deemed Utilisation. (a) At any time from the date of this Agreement, the Agent may (if instructed by all Lenders) unless the Borrower has specifically requested in writing otherwise advance one or more Loans under the Facility for application by the Borrower or the Company (as applicable) in accordance with the Market Purchase Plan. (b) Any Loans to be advanced under (a) above following instructions from all Lenders shall not be subject to any other conditions to Utilisation in this Clause 4 (including, without limitation, the delivery of a Utilisation Request by the Borrower) but shall in all other respects and for purposes of all other provisions of this Agreement be deemed to constitute a Utilisation made under this Agreement and any Loans so advanced shall be subject to the terms and conditions of this Agreement as if it had been made pursuant to Clause 4.1 (Initial Conditions Precedent) to Clause 4.2 (Further Conditions Precedent). (c) The Borrower: (i) undertakes to procure that the Company applies the proceeds of all Loans advanced by the Lenders pursuant to (a) above solely towards purchases of Target Shares in accordance with the Market Purchase Plan and does not make any market purchases of Target Shares other than as set out in the Market Purchase Plan without the prior written consent from the Majority Lenders; and (ii) confirms that, notwithstanding that the advance of Loans under (a) above may be made unilaterally by the Lenders, any such Loans advanced pursuant to (a) above shall constitute a direct borrowing of the Borrower and shall be subject to the same terms and conditions as any other Loan advanced by the Lenders pursuant to Clause 4.1 (Initial Conditions Precedent) to Clause 4.2 (Further Conditions Precedent) including, without limitation, in respect of Clauses 6 (Repayment) and 8 (Interest).

Deemed Utilisation. (a) At any time from the date of this Agreement, the Agent may (if instructed by all Lenders) unless the Borrower has specifically requested in writing otherwise advance one or more Loans under the Facility for application by the Borrower or the Company (as applicable) in accordance with the Market Purchase Plan. (b) Any Loans to be advanced under (a) above following instructions from all Lenders shall not be subject to any other conditions to Utilisation in this Clause 4 (including, without limitation, the delivery of a Utilisation Request by the Borrower) but shall in all other respects and for purposes of all other provisions of this Agreement be deemed to constitute a Utilisation made under this Agreement and any Loans so advanced shall be subject to the terms and conditions of this Agreement as if it had been made pursuant to Clause 4.1 (Initial Conditions Precedent) to Clause 4.2 (Further Conditions Precedentconditions precedent). (c) The Borrower: (i) undertakes to procure that the Company applies apply the proceeds of all Loans advanced by the Lenders pursuant to (a) above solely towards purchases of Target Shares in accordance with the Market Purchase Plan and does not make any market purchases of Target Shares other than as set out in the Market Purchase Plan without the prior written consent from the Majority Lenders; and (ii) confirms that, notwithstanding that the advance of Loans under (a) above may be made unilaterally by the Lenders, any such Loans advanced pursuant to (a) above shall constitute a direct borrowing of the Borrower and shall be subject to the same terms and conditions as any other Loan advanced by the Lenders pursuant to Clause 4.1 (Initial Conditions Precedent) to Clause 4.2 (Further Conditions Precedentconditions precedent) including, without limitation, in respect of Clauses 6 (Repayment) and 8 (Interest).