Common use of Discount Notes Clause in Contracts

Discount Notes. A Non-Acceptance Lender may require the Borrower to issue a Discount Note to the Non-Acceptance Lender, in lieu of a Draft, and such Non-Acceptance Lender shall, in lieu of accepting and purchasing Acceptances pursuant to Section 5.5 or making BA Equivalent Advances under Section 5.10, purchase Discount Notes upon the same terms and conditions as apply to purchases of Acceptances. For the purposes of this Agreement each reference to Acceptances shall be deemed to include, where relevant, Discount Notes, with the necessary changes being made to fit the context.

Discount Notes. A Non-Acceptance Lender may require the Borrower to issue a Discount Note to the Non-Acceptance Lender, in lieu of a Draft, and such Non-Acceptance Lender shall, in lieu of accepting and purchasing Acceptances pursuant to Section 5.5 4.6 or making BA Equivalent Advances under Section 5.104.11, purchase Discount Notes upon the same terms and conditions as apply to purchases of Acceptances. For the purposes of this Agreement Agreement, each reference to Acceptances an Acceptance shall be deemed to include, where relevant, a Discount NotesNote, with the necessary changes being made to fit the context.