Current Account. (a) Prior to the Conversion Date, the Additional Borrowing Amounts shall be deposited into the Current Account. The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, to the Company for the benefit of the Persons entitled thereto, amounts requested by the Company for the payment of Project Costs. (b) The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, directly to the Company for the benefit of the 141 Persons entitled thereto, all other Operating Expenses previously identified in the most recently delivered Expense Certificate which are then due and owing.
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Sources: Credit Agreement (Flag Telecom Holdings LTD), Credit Agreement (Flag Telecom Holdings LTD)
Current Account. (a) Prior to the Conversion Date, the Additional Borrowing Amounts shall be deposited into the Current Account. The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, to the Company for the benefit of the Persons entitled thereto, amounts requested by the Company for the payment of Project Costs.
(b) The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, directly to the Company for the benefit of the 141 Persons entitled thereto, all other Operating Expenses previously identified in the most recently delivered Expense Certificate which are then due and owing.
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