Disbursement Request; Disbursements Sample Clauses

Disbursement Request; Disbursements. (i) At least two Business Days prior to an Interest Payment Date, the Leasing Company and the Senior Note Trustee, until the Senior Note Discharge Date, and thereafter, the Convertible Note Trustee, shall submit to the Escrow Agent a completed Disbursement Request substantially in the form of Exhibit A hereto requesting funds from the Leasing Company Escrow Account in an amount equal to the interest owed on the Senior Notes under the Senior Note Indenture until the Senior Note Discharge Date, and thereafter, the Convertible Notes under the Convertible Note Indenture, for payment of such interest on such Interest Payment Date, unless the Company or the Leasing Company has disbursed and the Senior Note Trustee or the Convertible Note Trustee, as the case may be, has received funds from the Company or the Leasing Company in such amount on or before such date for such interest payment. Nevertheless, any funds or Eligible Cash Equivalents (or the proceeds or reinvestments thereof) previously designated in an Officer's Certificate delivered pursuant to Section 2(c) of this Agreement as representing funds or Eligible Cash Equivalents designated to satisfy the requirements of Section 11.4(m) of the Senior Note Indenture and Section 11.8(l) of the Convertible Note Indenture requiring the Company and/or the Leasing Companies to retain in the Company Senior Note Escrow Account and the Leasing Company Escrow Accounts the Senior Note Interest Payment Escrow Amount at all times after November 30, 1998 shall not be disbursed to the Leasing Company except as contemplated in such Section 11.4 and Section -9- 10 11.8. Provided that any such Disbursement Request is not rejected by it, the Escrow Agent, at least on (or if the Senior Note Trustee and the Escrow Agent are the same entity, two Business Days after) receipt of such Disbursement Request, shall disburse the funds requested in such Disbursement Request by wire or book-entry transfer of immediately available funds to the Senior Note Trustee, and shall promptly notify the Convertible Note Trustee of such disbursement. The Escrow Agent shall notify the Trustees as soon as reasonably possible if any such Disbursement Request is rejected and the reason(s) therefor.
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Disbursement Request; Disbursements. (i) At least two Business Days prior to an Interest Payment Date, the Company and the Convertible Note Trustee shall submit to the Escrow Agent a completed Disbursement Request substantially in the form of Exhibit A hereto requesting funds from the Company Convertible Note Escrow Account in an amount equal to the interest owed on the Convertible Notes under the Convertible Note Indenture for payment of such interest on such Interest Payment Date, unless the Company has disbursed and the Convertible Note Trustee has received funds from the Company in such amount on or before such date for such interest payment. Provided that any such Disbursement Request is not rejected by it, the Escrow Agent, at least on (or if the Convertible Note Trustee and the Escrow Agent are the same entity, two Business Days after) receipt of such Disbursement Request, shall disburse the funds requested in such Disbursement Request by wire or book-entry transfer of immediately available funds to such Trustee. The Escrow Agent shall notify the Convertible Note Trustee as soon as reasonably possible if any such Disbursement Request is rejected and the reason(s) therefor.
Sample 1
Disbursement Request; Disbursements. (i) The Millennium Issuer Loan Agreement provides that upon completion of the Millennium Mortgaged Rig, the Company is required to grant a first priority perfected Lien on the Millennium Mortgaged Rig. Provided that no Event of Default under the Millennium Issuer Loan Agreement has occurred and is continuing, the Company is entitled to have the funds in the Escrow Account released upon the delivery in form and substance satisfactory to the Issuer and the Trustee of the following documents:
Sample 1
Disbursement Request; Disbursements. (i) Not later than three Business Days after any deposit to the Reserve Account in respect of a payment of principal on any Issuer Loan, the Issuer shall submit to the Reserve Account Agent, with a copy to the Trustee, a completed Disbursement Request substantially in the form of Exhibit A hereto requesting payment to the Issuer of funds from the Reserve Account in an amount equal to 47% of the amount of such principal payment.
Sample 1

Related to Disbursement Request; Disbursements

  • Disbursement Requests Except as expressly provided in the Credit Agreement, Administrative Agent must receive Disbursement Requests in writing. Disbursement Requests will only be accepted from the applicable Authorized Representatives designated in the Disbursement Instruction Agreement. Disbursement Requests will be processed subject to satisfactory completion of Administrative Agent’s customer verification procedures. Administrative Agent is only responsible for making a good faith effort to execute each Disbursement Request and may use agents of its choice to execute Disbursement Requests. Funds disbursed pursuant to a Disbursement Request may be transmitted directly to the Receiving Bank, or indirectly to the Receiving Bank through another bank, government agency, or other third party that Administrative Agent considers to be reasonable. Administrative Agent will, in its sole discretion, determine the funds transfer system and the means by which each Disbursement will be made. Administrative Agent may delay or refuse to accept a Disbursement Request if the Disbursement would: (i) violate the terms of this Agreement; (ii) require use of a bank unacceptable to Administrative Agent or Lenders or prohibited by government authority; (iii) cause Administrative Agent or Lenders to violate any Federal Reserve or other regulatory risk control program or guideline; or (iv) otherwise cause Administrative Agent or Lenders to violate any applicable law or regulation.

  • Disbursement Prior to 4:00 p.m. (Atlanta, Georgia time) on the date of an Advance hereunder, the Administrative Agent shall, subject to the satisfaction of the conditions set forth in Article 4, disburse the amounts made available to the Administrative Agent by the Lenders in like funds by (i) transferring the amounts so made available by wire transfer to the Borrowers’ Disbursement Account or (ii) in the case of an Advance the proceeds of which are to reimburse an Issuing Bank pursuant to Section 2.15, transferring such amounts to such Issuing Bank. Unless the Administrative Agent shall have received notice from a Lender prior to 1:00 p.m. (Atlanta, Georgia time) on the date of any Advance that such Lender will not make available to the Administrative Agent such Lender’s ratable portion of such Advance, the Administrative Agent may assume that such Lender has made or will make such portion available to the Administrative Agent on the date of such Advance and the Administrative Agent may, in its sole discretion and in reliance upon such assumption, make available to the Borrowers or the appropriate Issuing Bank, as applicable, on such date a corresponding amount. If and to the extent such Lender shall not have so made such ratable portion available to the Administrative Agent, such Lender agrees to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers or the appropriate Issuing Bank, as applicable, until the date such amount is repaid to the Administrative Agent, (x) for the first two (2) Business Days, at the Federal Funds Rate for such Business Days, and (y) thereafter, at the Base Rate. If such Lender shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s portion of the applicable Advance for purposes of this Agreement and if both such Lender and the Borrowers shall pay and repay such corresponding amount, the Administrative Agent shall promptly relend to the Borrowers such corresponding amount. If such Lender does not repay such corresponding amount immediately upon the Administrative Agent’s demand therefor, the Administrative Agent shall notify the Administrative Borrower and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent. The failure of any Lender to fund its portion of any Advance shall not relieve any other Lender of its obligation, if any, hereunder to fund its respective portion of the Advance on the date of such borrowing, but no Lender shall be responsible for any such failure of any other Lender. In the event that a Lender for any reason fails or refuses to fund its portion of an Advance in violation of this Agreement, then, until such time as such Lender has funded its portion of such Advance, or all other Lenders have received payment in full (whether by repayment or prepayment) of the principal and interest due in respect of such Advance, such non-funding Lender shall not (i) have the right to vote regarding any issue on which voting is required or advisable under this Agreement or any other Loan Document and, with respect to any such Lender, the amount of the Revolving Loan Commitments or Loans, as applicable, held by such Lender shall not be counted as outstanding for purposes of determining “Majority Lenders” hereunder, and (ii) be entitled to receive any payments of principal, interest or fees from the Borrowers or the Administrative Agent (or the other Lenders) in respect of its Loans.

  • Monthly Disbursements On or before the fifth (5th) day of each calendar month, during the design and construction of the Tenant Improvements (or such other date as Landlord may designate), Tenant shall deliver to Landlord: (i) a request for reimbursement of amounts paid to the “Contractor,” as that term is defined in Section 4.1.1 of this Tenant Work Letter, approved by Tenant, in a commercially reasonable form to be provided by Landlord, showing the schedule, by trade, of percentage of completion of the Tenant Improvements in the Premises, detailing the portion of the work completed and the portion not completed; (ii) invoices from all of “Tenant’s Agents,” as that term is defined in Section 4.1.2 of this Tenant Work Letter, for labor rendered and materials for the Premises; (iii) executed mechanic’s lien releases, as applicable, from all of Tenant’s Agents which shall comply with the appropriate provisions, as reasonably determined by Landlord, of California Civil Code Section 3262(d); and (iv) all other information reasonably requested by Landlord. Tenant’s request for payment shall be deemed Tenant’s acceptance and approval of the work furnished and/or the materials supplied as set forth in Tenant’s payment request. Within forty-five (45) days thereafter, Landlord shall deliver a check to Tenant made payable to Tenant in payment of the lesser of: (A) the amounts so requested by “tenant as set forth in this Section 2.2.3.1, above (or, subject to the terms of Section 4.2.1, below, a percentage thereof), and (B) the balance of any remaining available portion of the Tenant Improvement Allowance, provided that Landlord does not dispute any request for payment based on non-compliance of any work with the “Approved Working Drawings,” as that term is defined in Section 3.5 below, or due to any substandard work. Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work furnished or materials supplied as set forth in Tenant’s payment request.

  • Disbursements, Reimbursement Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Issuing Lender a participation in such Letter of Credit and each drawing thereunder in an amount equal to such Lender’s Ratable Share of the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively.

  • Disbursement to Borrower Borrower may request and receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be re-borrowed.

  • Funds Transfer Disbursements The Borrower hereby authorizes the Administrative Agent to disburse the proceeds of any Loan made by the Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized representative of the Borrower to any of the accounts designated in the Disbursement Instruction Agreement.

  • 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).

  • Single Disbursement to Borrower Borrower shall receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.

  • Disbursement of Loan Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Disbursement of the Loan Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA. · Disbursements may be made in increments as needed. · Other conditions may be imposed by SBA pursuant to general requirements of SBA. · Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement. · NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD. PARTIES AFFECTED · This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and assigns and will inure to the benefit of SBA and its successors and assigns.

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