OTHER UTILISATIONS Sample Clauses

The 'Other Utilisations' clause defines how a borrower may use the loan funds for purposes beyond the primary intended use. Typically, this clause outlines any additional permitted uses, such as refinancing existing debt, funding working capital, or making specific investments, and may set conditions or limitations on these alternative uses. Its core function is to provide flexibility for the borrower while ensuring the lender retains oversight and control over how the loan proceeds are applied, thereby managing risk and maintaining transparency.
OTHER UTILISATIONS. Subject as provided below all amounts standing to the credit of the Blocked Accounts from time to time following the deductions referred to in Clause 7.1.2 shall be applied as follows: (a) FIRST in repayment of the outstanding principal amount of any Loans; (b) SECOND in payment of any fees, costs and expenses due from any Obligor to Burdale under the Finance Documents; (c) THIRD in payment of (i) all amounts of interest due on the Loans (including any deemed borrowing pursuant to Clause 6.6) and (ii) all Purchase Commission (or in making provision for Purchase Commission which will fall due for payment on the last Business Day of the current calendar month); (d) FOURTH in or towards satisfaction of any other payment obligation of any Obligor under the Finance Documents; and (e) FIFTH to the relevant Facility Company by way of payment into such Other Account as the relevant Facility Company may specify to Burdale in writing from time to time. PROVIDED THAT: (i) notwithstanding the above, at all times whilst an Event of Default is continuing, amounts standing to the credit of a Blocked Account shall be applied to such of the liabilities of the Obligors under the Finance Documents and in such order as Burdale may in its absolute discretion determine; and (ii) to the extent that any amount standing to the credit of one Facility Company's Blocked Account is applied to discharge the liabilities of another Obligor pursuant to Clause 7.1.2 or this Clause 7.2 then (without double counting) the provisions of Clause 6.2.5 shall apply to such application mutatis mutandis.
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OTHER UTILISATIONS. Any other facilities or financial accommodation made available under the Working Capital Facility shall be charged to the relevant Borrower by the Working Capital Bank in accordance with its customary rates or scales as notified to the Borrower from time to time.
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OTHER UTILISATIONS. Subject as provided below all amounts standing to the credit of the Blocked Accounts from time to time following the deductions referred to in Clause 6.1(b) shall be applied as follows: (a) FIRST in payment of any fees, costs and expenses due from the Company to Burdale under the Finance Documents; (b) SECOND in payment of all Purchase Commission (or in making provision for Purchase Commission which will fall due for payment on the last Business Day of the current calendar month); (c) THIRD in or towards satisfaction of any other payment obligation of the Company under the Finance Documents; and (d) FOURTH to the Company by way of payment into such Other Account as the Company may specify to Burdale in writing from time to time. Notwithstanding the above, at all times following the occurrence of an Event of Default and whilst the same is continuing, amounts standing to the credit of the Blocked Accounts shall be applied to such of the liabilities of the Company under the Finance Documents and in such order as Burdale may in its absolute discretion determine.
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OTHER UTILISATIONS. All utilisations of the Facilities shall, except to the extent expressly provided in this letter or in the MFA, be made on our standard terms and conditions which shall be deemed to be incorporated in this letter. To the extent that there is any inconsistency between the terms of this letter and/or our standard terms and the terms of the MFA, the provisions of the MFA shall prevail.
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OTHER UTILISATIONS. Subject to the other provisions of this Agreement, all amounts standing to the credit of the Blocked Accounts shall be applied in the following order: 10.2.1 in repayment of the outstanding principal amount of any Revolving Loans in such order and manner as the Lender may determine; 10.2.2 in payment of any fees, costs and expenses due from any Obligor to the Lender under any Finance Document;
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Related to OTHER UTILISATIONS

  • Utilisation 4.1 Conditions to Utilisation Save as otherwise provided in this Agreement, an Advance will be made by the Lenders to a Borrower or a Documentary Credit will be issued by an L/C Bank at a Borrower’s (other than the US Borrower’s) request if: (a) in the case of an Advance, the Facility Agent has received from such Borrower a duly completed Utilisation Request in the relevant form, and in the case of a Documentary Credit, both the Facility Agent and the L/C Bank have received from a Borrower (other than the US Borrower) a duly completed Utilisation Request in the relevant form, in each case, no earlier than the day which is 10 Business Days and no later than 2:00 p.m. on the day which is 3 Business Days (or in the case of any Documentary Credit which is not or will not be in the form of Schedule 12 (Form of Documentary Credit), no later than 2:00 p.m. on the day which is 5 Business Days) prior to the proposed Utilisation Date for such Advance or Documentary Credit, receipt of which shall oblige such Borrower to utilise the amount requested on the Utilisation Date stated therein upon the terms and subject to the conditions contained in this Agreement; (b) the proposed Utilisation Date is a Business Day for the proposed currency of the Advance or Documentary Credit, as the case may be, which is or precedes the relevant Termination Date; (c) in the case of a Utilisation by way of Term Facility Advance, such Utilisation would result in the maximum principal amount of the Term Facility Advance being utilised, or in the case of a Utilisation by way of a Revolving Facility Advance, such Utilisation occurs on or after the maximum principal amount of the Term Facility being utilised and, the proposed Sterling Amount of such Revolving Facility Advance is (i) equal to the amount of the Available Revolving Facility Commitment at such time, or (ii) less than such amount but equal to a minimum of £5 million, or an integral multiple of £1 million; (d) in the case of a Utilisation by way of Documentary Credit, the proposed Sterling Amount of such Documentary Credit is (i) equal to the amount of the Available Revolving Facility or (ii) less than such amount but equal to or more than £1 million or such lesser amount as the L/C Bank may agree; (e) in the case of a Utilisation by way of a Revolving Facility Advance, immediately after the making of such Advance there will be no more than 10 Revolving Facility Advances then outstanding; (f) in the case of a Utilisation by way of a Documentary Credit, the proposed Term of the Documentary Credit ends on or before the Termination Date in respect of the Revolving Facility; (g) in the case of a Utilisation by way of a Revolving Facility Advance, the proposed Term of such Advance is a period of 1, 2, 3 or 6 months or such other period of up to 12 months as all the Lenders having a Revolving Facility Commitment may agree prior to submission of the relevant Utilisation Request, and ends on or before the Final Maturity Date in respect of the Revolving Facility provided that, save as the Bookrunners may otherwise agree, prior to the Syndication Date, the Term of each Revolving Facility Advance shall be 1 month (or, if less, such duration as is necessary to ensure that such Term ends on the Syndication Date); (h) in the case of a Utilisation by way of an Advance (other than a Rollover Advance), the interest rate applicable to such Advance’s first Interest Period or Term (as the case may be) will not have to be determined under Clause 15 (Market Disruption and Alternative Interest Rates); (i) in the case of a Utilisation by way of a Documentary Credit which is not substantially in the form set out in Schedule 12 (Form of Documentary Credit), the L/C Bank shall have approved the terms of such Documentary Credit (acting reasonably); and (j) in the case of any Utilisation, on the date of the Utilisation Request, the date of any Conversion Notice and the proposed Utilisation Date: (i) in the case of a Rollover Advance or a Documentary Credit which is being renewed pursuant to Clause 5.2 (Renewal of Documentary Credits), the Facility Agent shall not have received instructions from a Revolving Facility Instructing Group requiring the Facility Agent to refuse such rollover or renewal of a Documentary Credit by reason of an Event of Default having occurred which is continuing or would result from the proposed Rollover Advance or the renewal of that Documentary Credit; or (ii) in the case of any Utilisation other than that referred to in sub-paragraph (i): (A) in the case of the first Utilisation of any Facility, subject to the provisions of Clause 3.5 (Vanilla Certain Funds Period), all representations set out in Clause 21 (Representations and Warranties) made by each of the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation; (B) in the case of any Utilisation under the A1 Facility and B1 Facility, subject to the provisions of Clause 3.6 (Baseball Certain Funds Period), the Repeating Representations made by the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation; (C) in the case of any Utilisation under the B2 Facility, B3 Facility, B4 Facility, B5 Facility and B6 Facility, the Repeating Representations made by the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation; or (D) in the case of any Utilisation under the C Facility, the Repeating Representations made by the persons identified as making those representations are true in all material respects by reference to the circumstances then existing and no Default is continuing or would result from the proposed Utilisation.

  • Conditions of Utilisation 4.1 Initial conditions precedent

  • Costs of Utilisation 8 Interest

  • Completion of a Utilisation Request (a) Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless: (i) the proposed Utilisation Date is a Business Day within the Availability Period; (ii) the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and (iii) the proposed Interest Period complies with Clause 10 (Interest Periods). (b) Only one Loan may be requested in each Utilisation Request.

  • Delivery of a Utilisation Request The Borrower may utilise the Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time.