Common use of ESCAPE CLAUSE Clause in Contracts

ESCAPE CLAUSE. In case the Bank should not be able to grant or renew Advances in the currency requested by the Borrower owing to any present or future currency restrictions or similar circumstances (i.e. initiated by Central Banks, Governments or any other public authority or body) the Bank reserves the right to advance another freely available currency at that date. The Bank’s opinion as to whether a currency is available or not shall be conclusive and binding on the Borrower, except in case of manifest error.

ESCAPE CLAUSE. In case the Bank should not be able to grant or renew Advances in the currency requested by the Borrower owing to any present or future currency restrictions or similar circumstances (i.e. initiated by Central Banks, Governments or any other public authority or body) the Bank reserves the right to advance another freely transferable currency available currency at that date. The Bank’s 's opinion as to whether a currency is available or not shall be conclusive and binding on the Borrower, except in case of a manifest error.

ESCAPE CLAUSE. In case the Bank should not be able to grant or renew Advances in the currency requested by the Borrower owing to any present or future currency restrictions or similar circumstances (i.e. initiated by Central Banks, Governments or any other public authority or body) the Bank reserves the right to advance another freely available currency at that date. The Bank’s 's opinion as to whether a currency is available or not shall be conclusive and binding on the Borrower, except in case of manifest error.