Common use of Collections and Disbursements Clause in Contracts

Collections and Disbursements. (a) Agent will have the right to collect and receive all payments of the Obligations, together with all fees, charges or other amounts due under this Agreement and the Financing Agreements, and Agent will remit to Lender all such payments actually received by Agent (subject to any required clearance procedures) in accordance with the settlement procedures established by Agent from time to time.

Appears in 2 contracts

Samples: Loan and Security Agreement (Optical Cable Corp), Loan and Security Agreement (Crown Central Petroleum Corp /Md/)

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Collections and Disbursements. (a) a. Agent will have the right to collect and receive all payments of the Obligations, and to collect and receive all reimbursements for draws made under the Letters of Credit, together with all fees, charges or other amounts due under this Agreement and the Financing Agreements, Loan Documents and Agent will remit to Lender all distribute such payments actually received by Agent (subject to any required clearance procedures) Lenders and Issuing Bank in accordance with the settlement procedures established by Agent from time to timeterms of Section 2.3.

Appears in 1 contract

Samples: Loan and Security Agreement (Resource America Inc)

Collections and Disbursements. (a) Agent will have the right to collect and receive all payments of the Loan Obligations, and to collect and receive all reimbursements for draws made under the Letters of Credit, together with all fees, charges or other amounts due under this Agreement and the Financing AgreementsLoan Documents, and Agent will remit to Lender each Lender, according to its applicable Pro Rata Percentage, all such payments actually received by Agent (subject to any required clearance procedures) in accordance with the settlement procedures established by Agent from time to time.

Appears in 1 contract

Samples: Credit Agreement (Phoenix Md Realty LLC)

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Collections and Disbursements. (a) Agent will have the right to collect ----------------------------- and receive all payments of the Obligations, together with and to collect and receive all fees, charges or other amounts due under this Agreement and the Financing AgreementsNote, and Agent will promptly remit to Lender each Lender, pro rata in accordance with such Lender's Loan Commitment, all such payments actually received by Agent (subject to any required clearance procedures) in accordance with the settlement procedures established by Agent from time to time.

Appears in 1 contract

Samples: Loan Agreement (Net Value Holdings Inc)

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