AMD 2003 Annual Report Download - page 177

23.3 When the Borrower is required to perform its obligations to a Lender when due or upon acceleration or otherwise, the Lender may exercise its floating
security interest (the “Exercise of Floating Security”) over the receivables against the Borrower under this Agreement, regardless of Clause 16.2.
23.4 If a set-off is performed pursuant to Clause 23.1 or 23.2 above, or if the Exercise of floating security interest is carried out pursuant to Clause 23.3, the
Lender in the case described in Clauses 23.1 and 23.3 and the Borrower in the case described in Clause 23.2 shall immediately notify the Agent of the
details thereof in writing. If any damage, loss, or expenses are incurred by the Lender or the Agent due to delay of such notice without any reasonable
cause, either the Lender or the Borrower who has failed to give such notice shall bear such damages.
24. ARRANGEMENTS AMONG LENDERS
24.1 If a set-off is performed by a Lender pursuant to Clause 23.1 (such Lender, hereafter, a “Set-off Initiating Lender”), the Lender shall make arrangements
for each Individual Loan subject to the set-off (such Individual Loan, in this Clause 24.1, a “Set-off Individual Loan”) by way of assigning receivables
pursuant to the procedures described in the items below:
(i) The Agent shall calculate each amount (the “Intended Distribution Amount”) that the Lender (hereafter in this Clause 24.1, the “Remaining
Lender”), who has made the Individual Loan (other than the Set-off Individual Loan) (hereafter in this Clause 24.1, the “Remaining Individual
Loan”) should have received pursuant to Clauses 17.1 through 17.4 assuming that the amount of debt obligations in relation to a Set-off
Individual Loan, which has been extinguished due to the performance of a set-off, had been paid to the Agent.
(ii) The Set-off Initiating Lender shall purchase from the Remaining Lender the loan receivables of the amount equivalent to the Intended
Distribution Amount from and among the Remaining Individual Loan at their face value; provided, however, that the Remaining Lender may
refuse such sale.
(iii) If the assignment under the immediately preceding item is made, the Remaining Lender shall, at its own expense, notify the Borrower
immediately after the assignment by a document bearing a confirmed date (kakutei-hizuke) pursuant to Article 467 of the Civil Code.
24.2 If a set-off is performed by the Borrower against a Lender pursuant to Clause 23.2 (such Lender, hereafter, a “Set-off Receiving Lender”), only if a
Lender other than the Set-off Receiving Lender requests, the Lender shall make arrangement for each Individual Loan subject to the set-off (such
Individual Loan, in this Clause 24.2, a “Set-off Individual Loan”) by way of assigning receivables pursuant to the procedures described in the items
below:
(i) The Agent shall calculate each Intended Distribution Amount that the Lender (hereafter in this Clause 24.2, the “Remaining Lender”), who has
made the Individual Loan (other than the Set-off Individual Loan) (hereafter in this Clause 24.2, the “Remaining Individual Loan”) should have
received
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Source: ADVANCED MICRO DEVIC, 10-K, March 09, 2004