Common use of Disbursement Instruction Clause in Contracts

Disbursement Instruction. You are hereby authorized and instructed to disburse the Purchase Price by wire transfer to the following account: ABA: Acct#: Bank Name: Facsimile: REF: [Construction Funds Trust Account] The Seller hereby represents and warrants as of the date hereof and as of the Purchase Date referenced above that (a) the representations and warranties of the Seller set forth in the Agreement are true and correct in all material respects, and (b) to the Seller’s knowledge, no event has occurred and is continuing or would result from the consummation of the sale contemplated hereby that would constitute an Event of Default by the Seller. Raiders Football Club, LLC, in its capacity as Marketing Agent, hereby represents and warrants as of the date hereof and as of the Purchase Date referenced above that (a) all of the representations and warranties of the Marketing Agent set forth in the PSL Marketing and Sales Agreement are true and correct in all material respects and (b) to the Marketing Agent’s knowledge, no default or breach has occurred under the PSL Marketing and Sales Agreement or the Agreement.