Common use of Variation of order of application Clause in Contracts

Variation of order of application. The Issuer may, by notice to the Obligors and the Security Parties, provide for a different manner of application from that set out in Clause 12.1 either as regards a specified sum or sums or as regards sums in a specified category or categories.

Appears in 3 contracts

Sources: Guarantee Facility Agreement (TBS International PLC), Guarantee Facility Agreement (TBS International LTD), Guarantee Facility Agreement (TBS International LTD)