concurrently herewith. The Notes have been issued pursuant to the provisions of an Indenture (as amended, supplemented or otherwise modified from time to time, the "INDENTURE") dated the date hereof, between the Issuers and the Trustee, on behalf of itself and the holders of the Notes. Proceeds from the issuance of Notes in the amount of Fifty Two Million Three Hundred Sixty One Thousand Five Hundred Seventy Dollars and eighty three cents ($52,361,570.83) (the "CONSTRUCTION PROCEEDS") will be deposited contemporaneously with the execution of this Agreement into account #ISLCAPCONDIS, held at the Disbursement Agent (said account, or any substitute account selected in accordance with the terms of this Agreement, is sometimes referred to herein as the "CONSTRUCTION DISBURSEMENT ACCOUNT"), to be maintained by the Disbursement Agent pursuant to Section 2 of this Agreement. Proceeds --------- from the issuance of Notes in the amount of Fourteen Million One Hundred Twenty Nine Thousand Six Hundred Fifty One Dollars and ninety four cents ($14,129,651.94) (the "INTEREST RESERVE PROCEEDS"), will be deposited contemporaneously with the execution of this Agreement into account #ISLCAPINTRES, held at the Disbursement Agent (said account, or any substitute account selected in accordance with the terms of this Agreement, is sometimes referred to herein as the "INTEREST RESERVE ACCOUNT"), to be maintained by the Disbursement Agent pursuant to Section 2 of this Agreement. Proceeds from the --------- issuance of Notes in the amount of Five Million Dollars ($5,000,000.00) (the "COMPLETION RESERVE PROCEEDS," which together with the Construction Proceeds and the Interest Reserve Proceeds shall be referred to herein as the "PROCEEDS"), will be deposited contemporaneously with the execution of this Agreement into account #ISLCAPCOMRES, held at the Disbursement Agent (said account, or any substitute account selected in accordance with the terms of this Agreement, is sometimes referred to herein as the "COMPLETION RESERVE ACCOUNT"), to be maintained by the Disbursement Agent pursuant to Section 2 of this Agreement. ---------
Appears in 1 contract
Sources: Cash Collateral and Disbursement Agreement (Isle of Capri Black Hawk Capital Corp)
concurrently herewith. The Notes have been issued pursuant to the provisions of an Indenture (as amended, supplemented or otherwise modified from time to time, the "INDENTUREIndenture") dated the date hereof, between the Issuers Issuer and the Trustee, on behalf of itself and the holders of the Notes. Proceeds from the issuance of Notes in the amount of Fifty Two Thirty One Million Three Nine Hundred Sixty One Thousand Five Hundred Seventy Dollars and eighty three cents ($52,361,570.8331,900,000) (the "CONSTRUCTION PROCEEDSConstruction Proceeds") will be deposited contemporaneously with the execution of this Agreement into Account No. 630000038.1 ("Riviera Black Hawk, Inc. Construction Disbursement Account") held at the Disbursement Agent (said account, or any substitute account #ISLCAPCONDISselected in accordance with the terms of this Agreement, is sometimes referred to herein as the "Construction Disbursement Account"), to be maintained by the Disbursement Agent pursuant to Section 2 of this Agreement. Proceeds from the issuance of Notes in the amount of Five Million One Hundred Thousand Dollars ($5,100,000) (the "Interest Reserve Proceeds"), will be deposited contemporaneously with the execution of this Agreement into Account No. 630000038.2 ("Riviera Black Hawk, Inc. Interest Reserve Account"), held at the Disbursement Agent (said account, or any substitute account selected in accordance with the terms of this Agreement, is sometimes referred to herein as the "CONSTRUCTION DISBURSEMENT ACCOUNTInterest Reserve Account"), to be maintained by the Disbursement Agent pursuant to Section 2 of this Agreement. Proceeds --------- from the issuance of Notes in the amount of Fourteen Five Million One Hundred Twenty Nine Thousand Six Hundred Fifty One Dollars and ninety four cents ($14,129,651.945,000,000.00) (the "INTEREST RESERVE PROCEEDSCompletion Reserve Proceeds," which, together with the Construction Proceeds and the Interest Reserve Proceeds, shall be referred to herein as the "Proceeds"), will be deposited contemporaneously with the execution of this Agreement into account #ISLCAPINTRESAccount No. 630000038.3 ("Riviera Black Hawk, Inc. Completion Reserve Account"), held at the Disbursement Agent (said account, or any substitute account selected in accordance with the terms of this Agreement, is sometimes referred to herein as the "INTEREST RESERVE ACCOUNTCompletion Reserve Account"), to be maintained by the Disbursement Agent pursuant to Section 2 of this Agreement. Proceeds from the --------- issuance of Notes in the amount of Five Million Dollars ($5,000,000.00) (the "COMPLETION RESERVE PROCEEDS," which together with the Construction Proceeds and the Interest Reserve Proceeds shall be referred to herein as the "PROCEEDS"), will be deposited contemporaneously with the execution of this Agreement into account #ISLCAPCOMRES, held at the Disbursement Agent (said account, or any substitute account selected in accordance with the terms of this Agreement, is sometimes referred to herein as the "COMPLETION RESERVE ACCOUNT"), to be maintained by the Disbursement Agent pursuant to Section 2 of this Agreement. ---------.
Appears in 1 contract
Sources: Cash Collateral and Disbursement Agreement (Riviera Black Hawk Inc)