Common use of Disbursement of Advance Proceeds Clause in Contracts

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit Requests, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 4 contracts

Samples: Guaranty, and Security Agreement (Rocky Brands, Inc.), , and Security Agreement (Rocky Brands, Inc.), Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.)

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Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or Lenders, shall be charged to Borrowers’ Borrower’s Account on Agent’s books. During the Term, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by Borrower under Section 2.2(a) shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s operating account at PNC, maintained with Agent or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsAdvances deemed to have been requested by Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 2 contracts

Samples: Financing Agreement (Rafaella Apparel Group,inc.), Financing Agreement (Verrazano,inc.)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s bookstime. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying or repaying and reborrowing, all in accordance with the terms and conditions hereof. The Term Loan may not be reborrowed once repaid or prepaid, except and to the extent requested by Borrowing Agent and agreed by each Lender, in its sole discretion. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower Borrowers on the day so requested by way of credit to such Borrower’s Borrowers' operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsRevolving Advances deemed to have been requested, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 2 contracts

Samples: Security Agreement (Richton International Corp), Security Agreement (Richton International Corp)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s books. During Prior to the TermMaturity Date, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested specified in the Borrowing Notice by way of credit wire transfer to such Borrower’s operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsRevolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Credit and Security Agreement (Emerge Energy Services LP)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or Lenders, shall be charged to Borrowers’ Borrower’s Account on Agent’s books. During the Term, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by the Borrower under Section 2.2 hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such the Borrower’s operating account at PNC, or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsAdvances deemed to have been requested by the Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or Lenders, shall be charged to Borrowers’ Borrower's Account on Agent’s 's books. During the Term, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by Borrower under Section 2.3 shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s 's operating account at PNC, or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsAdvances deemed to have been requested by Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Security Agreement (Perma Fix Environmental Services Inc)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent or Lenders, as applicable, may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s bookstime. During the Term, Borrowers Borrower may use the request, repay and reborrow Revolving Advances by borrowing, prepaying and reborrowingAdvances, all in accordance with the terms and conditions hereofof this Agreement. The proceeds of each Revolving Advance requested by Borrowing Borrower (or Agent on behalf of any Borrower) or deemed to have been requested by Borrower (or Agent on behalf of Borrower) under Section 2.2(a) shall, subject to the terms and conditions of this Agreement with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day Business Day so requested by way of credit to such Borrower’s operating account number 41320 at PNCXxxxx Fargo Bank, N.A. or such other account and/or bank as Borrowing Agent Borrower may designate following written notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsRevolving Advances deemed to have been requested by Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Loan and Security Agreement (Winnebago Industries Inc)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or any of the Lenders, shall be charged to Borrowers’ Account the applicable Borrower's account on Agent’s 's books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower shall, with respect to requested Revolving Advances to the extent the Lenders make such Revolving Advances, be made available to the applicable such Borrower on the day so requested by way of credit to such Borrower’s 's operating account at PNCthe Bank, or such other bank as the Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsAdvances deemed to have been requested, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Agreement (Styrochem U S Inc)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers' Account on Agent’s 's books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower Borrowers or deemed to have been requested by Borrowers under Section 2.2(a) shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s 's operating account at PNC, The Bank of New York or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsAdvances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Loan and Security Agreement (Stanadyne Automotive Corp)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place in the United States of America Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or Lenders, shall be charged to Borrowers’ Borrower's Account on Agent’s 's books. During the Term, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by Borrowers under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s 's operating account at PNC, or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsRevolving Advances deemed to have been requested by Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Loan and Security Agreement (Philipp Brothers Chemicals Inc)

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Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or Lenders, shall be charged to Borrowers’ Borrower’s Account on Agent’s books. During the Term, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying borrowing and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested applicable Borrowing Date by way of credit to such Borrower’s operating account at PNCSignature, or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal Federal funds or other immediately available funds or, with respect to Deemed Credit Requests, or be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Crystal River Capital, Inc.)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers the Loan Parties to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance or Swing Loan requested by Borrowing Agent on behalf of any Borrower shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, shall be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds orfunds. The proceeds of each Revolving Advance or Swing Loan deemed to have been requested by any Borrower under Section 2.2(a), with respect to Deemed Credit Requests, 2.6(b) or 2.14 hereof shall be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request. During the Term, Borrowers may use the Revolving Advances and Swing Loans by borrowing, prepaying and re-borrowing, all in accordance with the terms and conditions hereof.

Appears in 1 contract

Samples: Security Agreement (AutoWeb, Inc.)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers' Account on Agent’s 's books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower Borrowers or deemed to have been requested by Borrowers under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s 's operating account at PNC, Bank One or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsAdvances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Loan and Security Agreement (Bucyrus International Inc)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s books. During Prior to the TermMaturity Date, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all borrowing in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by any Borrower under Section 2.2(b) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested specified in the Borrowing Notice by way of credit wire transfer to such Borrower’s operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsAdvances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Security Agreement (Emerge Energy Services LP)

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or Lenders, shall be charged to Borrowers’ Borrower's Account on Agent’s 's books. During the Term, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereofof this Agreement. The proceeds of each Revolving Advance requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by Borrower under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s 's operating account at PNC, or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Deemed Credit RequestsRevolving Advances deemed to have been requested by Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Security Agreement (Dreamlife Inc)

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