Disbursement Account. 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”).
Disbursement Account. A trust account for the benefit of Owner, opened by Manager with an FDIC insured bank to pay for “Operating Expenses” as defined in Section 4.01(b).
Disbursement Account. (a) Disbursement shall be made to the Disbursement Account specified in the relevant Disbursement Acceptance, provided that such Disbursement Account is acceptable to the Bank.
Disbursement Account. Subject to the terms and conditions of this Agreement, including Sections 2.1 and 5.7 hereof, a Floor Plan Borrower may prepay, in whole or in part, from time to time, outstanding Floor Plan Loans, Swing Line Loans or Swing Line Overdraft Loans and may reborrow Floor Plan Loans and Swing Line Loans. Any or all of the Floor Plan Borrowers and the Floor Plan Agent, at various times, may be parties to a corporate cash management service agreement (the "Service Agreement") providing for a controlled disbursement account (the "Disbursement Account") between such Floor Plan Borrower and the Floor Plan Agent. Subject to the terms and conditions of this Agreement, each such Floor Plan Borrower authorizes the Floor Plan Agent to fund the Disbursement Account, on a daily basis if necessary, by advancing Loans under this Agreement to the extent of availability under the aggregate Floor Plan Loan Commitments. Each such Floor Plan Borrower acknowledges and agrees that any requests for funding from the Disbursement Account will not be paid unless funds in an amount sufficient to pay such requests are then available for reborrowing in compliance with the terms and conditions of this Agreement, including Section 2.1 hereof to enable Floor Plan Agent to advance those funds to the Disbursement Account. Floor Plan Agent agrees that any requests to be submitted for payment through the Disbursement Account will not be made unless sufficient funds are available and such request is made in compliance with the terms and conditions of this Agreement to pay all such requests. Each Floor Plan Borrower at all times is responsible for having sufficient available funds in Excess/Payments in Process to pay all requests to be paid through the Disbursement Account, whether these funds are advances under this Agreement or otherwise. Each Floor Plan Borrower acknowledges and agrees that the Service Agreement relating to the Disbursement Account may be canceled by the Floor Plan Agent at any time upon written notice to the applicable Floor Plan Borrower, notwithstanding anything to the contrary in the Service Agreement. A copy of the form of Service Agreement may be attached to this Agreement by the Floor Plan Agent at any time a Service Agreement is in effect between a Floor Plan Borrower and the Floor Plan Agent, although the failure to attach it shall not affect its validity or the effectiveness of this Agreement.
Disbursement Account. On or prior to the Closing Date, there shall be established at Deutsche Bank Trust Company Americas, as the Securities Intermediary, the Disbursement Account pursuant to the Company Collateral Account Agreements. On each Advance Date, funds shall be withdrawn from the Collection Account and deposited in the Disbursement Account in accordance with Section 2.4.4(a). Subject to the provisions of Section 10.2 and the Company Collateral Account Agreements, amounts on deposit in the Disbursement Account shall be transferred by the Disbursement Agent to the Soft Costs Cash Management Sub-Account, the Hard Costs Cash Management Sub-Account, the Interest Payment Account, the Company's Payment Account and/or applied to pay Project Costs in accordance with Section 2.6. On the Final Completion Date, funds remaining in the Disbursement Account shall be applied as provided in Section 2.11. The deposit of funds into the Disbursement Account shall not give the Company any greater rights to such funds than the rights, if any, that the Company had to such funds while they were on deposit in the Collection Account. In the event that any funds deposited in the Disbursement Account are, for any reason, not withdrawn therefrom pursuant to Section 2.6 on the same day on which they are deposited, such funds shall, on the next Banking Day, be withdrawn from the Disbursement Account and returned to the Collection Account. The Disbursement Agent shall cause investment income from Permitted Investments on amounts on deposit in the Disbursement Account to be transferred to and deposited in the Collection Account at the same time as the corresponding funds that gave rise to such investment income are transferred to such account.
Disbursement Account. (i) In accordance with the Custodial and Disbursement Agreement, the Disbursement Agent has established and shall maintain a segregated time or demand deposit account with the Account Bank for and on behalf of Guarantor (the “Disbursement Account”).
Disbursement Account. All Property expenses paid by Manager, as provided herein, are to be drawn on a separate disbursement account (the "Disbursement Account") that has been established by Owner which shall have two authorized signatories designated by Manager and approved by Owner. Any check in excess of $5,000 will require Owner approval prior to clearing the Disbursement Account. Owner will fund the Disbursement Account on a weekly basis, after receiving and approving the estimated total dollar amount requested from Manager.
Disbursement Account. A demand deposit account (DDA) has been opened at the Bank in the name of the Member. Upon the Bank’s approval of the funding of the Homeownership Set-aside Program subsidy, the subsidy shall be deposited into such DDA, and the Member shall be responsible for the disbursement of funds. The subsidy must be drawn down and used by eligible households within the timeframe(s) set forth in the Bank’s AHP Implementation Plan. Unless an exception is specifically granted by the Bank, if the subsidy is not drawn down and used by eligible households within the timeframe(s) set forth in the Bank’s AHP Implementation Plan, the Bank shall cancel its approval, any funded subsidy shall be returned to the Bank, and the Bank shall make such cancelled subsidy available for other AHP-eligible households.
Disbursement Account. The Borrower and the Security Agent have established with the Securities Intermediary an account entitled the “Stetson Disbursement Account” (account number 0000000) (the “Disbursement Account”). All proceeds of the Term Loans and Bridge Loans shall be deposited in the Disbursement Account and shall be applied in accordance with Section 7.1 of the Financing Agreement and the Notice of Borrowing.
Disbursement Account. Not later than the Closing Date, Borrower shall establish the Disbursement Account with Lender. Borrower shall continuously maintain the Disbursement Account with Lender during the entire term of this Agreement and continuing until the Loan and all other Obligations of Borrower to Lender shall have been indefeasibly repaid in full. The Disbursement Account shall be subject to the control of Lender and all transfers, withdrawals and disbursement of funds deposited therein shall be subject to the prior approval of Lender. Without limiting any provision herein or under applicable law, Borrower hereby grants and Lender shall have a first priority security interest in the Disbursement Account and in all funds now or hereafter in the Disbursement Account (including but not limited to all funds hereafter deposited in the Disbursement Account). This Agreement constitutes an agreement providing Lender with “control of a deposit account” in accordance with Article 9 of the United Commercial Code as now and hereafter in effect in the State of New York State (the "UCC") and the Borrower and Lender intend Lender's security interest to be automatically perfected by reason of such control. Without limiting any other rights available to Lender herein, at law or in equity, Lender is hereby authorized to debit from the Disbursement Account or any other account maintained by any or both Borrowers with Lender, any and all fees, costs and expenses incurred or to be incurred by Borrower hereunder, including, without limitation, transaction costs, disbursements and fees and Lender’s attorneys fees required to be paid by Borrower under this Credit Agreement.
