Common use of NON-PAYMENT BY BORROWER Clause in Contracts

NON-PAYMENT BY BORROWER. failure by the Borrower to pay any sum that is due on the Loan (other than a sum the non-payment of which gives rise to a right exercisable by EIB to make a claim for the payment to it of an amount equal to such sum under any Letter of Credit or the EIF Senior Guarantee or out of the proceeds of realisation of any other Relevant EIB Security other than EIB Security provided pursuant to Clause 8.5(b)) within two London Business Days of the due date;