Common use of First Advance Clause in Contracts

First Advance. The first Advance, which shall be used (i) to repay loans provided by the Guarantor to the Borrowers from, among other sources, funds borrowed by the Guarantor from Citicorp North America, Inc. ("Citicorp") and other lenders, and (ii) to pay the management fee of the Lender as set out in clause 5, will be transferred to and deposited in the relevant Borrowers' accounts, and the Borrowers hereby instruct the Bank to transfer the deposited first Advances in USD to the Bank account of the Guarantor. The Lender hereby agrees to exchange HUF amounts of the loan into USD using the Exchange Rate without charging further fees. The Guarantor hereby instructs the Bank to transfer to and deposit in the appropriate Citicorp account the amount due to settle the Citicorp loan made to the Guarantor. The Parties agree and the Lender undertakes that the above mentioned transfers shall be completed in such a way that the Citicorp Loan Settlement Account and the bank accounts of the other relevant creditors of the Guarantor will be credited on value date October 15, 1996.

First Advance. The first Advance, which shall be used (i) to repay loans provided by the Guarantor to the Borrowers Borrower from, among other sources, funds borrowed by the Guarantor from Citicorp North America, Inc. ("Citicorp") and other lenders, and (ii) to pay the management fee of the Lender as set out in clause 5, will be transferred to and deposited in the relevant Borrowers' Borrower's accounts, and the Borrowers Borrower hereby instruct instructs the Bank to transfer the deposited first Advances in USD to the Bank account of the Guarantor. The Lender hereby agrees to exchange HUF amounts of the loan into USD using the Exchange Rate without charging further fees. The Guarantor hereby instructs the Bank to transfer to and deposit in the appropriate Citicorp account the amount due to settle the Citicorp loan made to the Guarantor. The Parties agree and the Lender undertakes that the above mentioned transfers shall be completed in such a way that the Citicorp Loan Settlement Account and the bank accounts of the other relevant creditors of the Guarantor will be credited on value date October 15, 1996.