Common use of Fixed Rate Loans Clause in Contracts

Fixed Rate Loans. The Agent shall promptly notify the Borrower, upon becoming aware, of the occurrence of any event described in paragraphs (a) or (b) above. In case of an event described in paragraph (b) above, each Finance Party making a claim thereunder shall request that SIMEST provide an original receipt (or copy thereof) evidencing that the payment has been duly remitted to the appropriate authority. To the extent the same shall have been provided to it by SIMEST, that Finance Party shall forward to the Borrower the original receipt (or copy thereof) evidencing that the payment has been duly remitted to the appropriate authority.