THIS CLAUSE 5.3 SHALL NOT AFFECT THE PARTICIPATION
OF EACH OTHER LENDER IN THAT DOCUMENTARY CREDIT.
5.4
REVALUATION OF DOCUMENTARY CREDITS
(A)
IF ANY DOCUMENTARY CREDIT IS DENOMINATED IN A
CURRENCY OTHER THAN STERLING, THE FACILITY AGENT SHALL AT SIX MONTHLY INTERVALS
AFTER THE DATE OF THE DOCUMENTARY CREDIT RECALCULATE THE STERLING AMOUNT OF THAT
DOCUMENTARY CREDIT BY NOTIONALLY CONVERTING INTO STERLING, THE OUTSTANDING
AMOUNT OF THAT DOCUMENTARY CREDIT ON THE BASIS OF THE FACILITY AGENT'S SPOT RATE
OF EXCHANGE ON THE DATE OF CALCULATION.
(B)
THE RELEVANT BORROWER SHALL, IF REQUESTED BY THE
FACILITY AGENT WITHIN 2 DAYS OF ANY CALCULATION UNDER PARAGRAPH (A) ABOVE,
ENSURE THAT WITHIN 3 BUSINESS DAYS SUFFICIENT REVOLVING FACILITY OUTSTANDINGS
ARE REPAID (SUBJECT TO BREAK COSTS, IF APPLICABLE, BUT OTHERWISE WITHOUT PENALTY
OR PREMIUM WHICH MIGHT OTHERWISE BE PAYABLE), TO PREVENT THE STERLING AMOUNT OF
THE REVOLVING FACILITY OUTSTANDINGS EXCEEDING THE AGGREGATE AMOUNT OF ALL OF THE
REVOLVING FACILITY COMMITMENTS ADJUSTED TO REFLECT ANY CANCELLATIONS OR
REDUCTIONS, FOLLOWING ANY ADJUSTMENT UNDER PARAGRAPH (A) ABOVE.
5.5
IMMEDIATELY PAYABLE
(A)
IF A DOCUMENTARY CREDIT OR ANY AMOUNT OUTSTANDING
UNDER A DOCUMENTARY CREDIT BECOMES IMMEDIATELY PAYABLE UNDER THIS AGREEMENT, THE
BORROWER THAT REQUESTED (OR ON BEHALF OF WHICH THE COMPANY REQUESTED) THE ISSUE
OF THAT DOCUMENTARY CREDIT SHALL REPAY OR PREPAY THAT DOCUMENTARY CREDIT OR THAT
AMOUNT WITHIN 3 BUSINESS DAYS OF DEMAND.
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(B)
EACH L/C BANK SHALL PROMPTLY NOTIFY THE FACILITY
AGENT OF ANY DEMAND RECEIVED BY IT UNDER AND IN ACCORDANCE WITH ANY DOCUMENTARY
CREDIT (INCLUDING DETAILS OF THE DOCUMENTARY CREDIT UNDER WHICH SUCH DEMAND HAS
BEEN RECEIVED AND THE AMOUNT DEMANDED).
THE FACILITY AGENT SHALL PROMPTLY
NOTIFY THE COMPANY, THE BORROWER FOR WHOSE ACCOUNT THE DOCUMENTARY CREDIT WAS
ISSUED AND EACH OF THE LENDERS UNDER THE REVOLVING FACILITY.
5.6
CLAIMS UNDER A DOCUMENTARY CREDIT
(A)
EACH BORROWER IRREVOCABLY AND UNCONDITIONALLY
AUTHORISES EACH L/C BANK TO PAY ANY CLAIM MADE OR PURPORTED TO BE MADE UNDER A
DOCUMENTARY CREDIT REQUESTED BY IT (OR BY THE COMPANY ON ITS BEHALF) AND WHICH
APPEARS ON ITS FACE TO BE IN ORDER (A "CLAIM").
(B)
EACH BORROWER SHALL WITHIN 3 BUSINESS DAYS OF
DEMAND PAY TO THE FACILITY AGENT FOR THE ACCOUNT OF THE RELEVANT L/C BANK AN
AMOUNT EQUAL TO THE AMOUNT OF ANY CLAIM UNDER THAT DOCUMENTARY CREDIT.
(C)
ON RECEIPT OF ANY DEMAND OR NOTIFICATION UNDER
CLAUSE 5.5 (IMMEDIATELY PAYABLE), THE RELEVANT BORROWER SHALL (UNLESS THE
COMPANY NOTIFIES THE FACILITY AGENT OTHERWISE) BE DEEMED TO HAVE DELIVERED TO
THE FACILITY AGENT A DULY COMPLETED UTILISATION REQUEST REQUESTING A REVOLVING
FACILITY ADVANCE:
(I)
IN AN AMOUNT AND CURRENCY EQUAL TO THE AMOUNT
AND CURRENCY OF THE RELEVANT CLAIM (IF APPLICABLE, NET OF ANY AVAILABLE CASH
COVER);
(II)
FOR AN INTEREST PERIOD OF THREE MONTHS OR SUCH
OTHER PERIOD OF UP TO SIX MONTHS AS NOTIFIED BY THE RELEVANT BORROWER TO THE
RELEVANT L/C BANK PRIOR TO THE UTILISATION DATE APPLICABLE TO SUCH CURRENCY; AND
(III)
WITH A UTILISATION DATE ON THE DATE RECEIPT OF