Disbursements from the Distribution Account Sample Clauses

Disbursements from the Distribution Account. Account Funds in the Distribution Account shall either be (a) transferred to the Revenue Account as provided in the last sentence of Section 4.1.2 or (b) subject to the conditions set forth in Section 4.5 of the Common Agreement, used to make Restricted Payments or Tax Distributions in accordance with this Section 4.6.2; provided that any and all Restricted Payments made pursuant to this Section 4.6.2 shall be subject to Section 2.1 of the Parent Agreement. Restricted Payments or Tax Distributions may be made from the Distribution Account only on Annual Scheduled Payment Dates (or within 30 days thereafter (or on such later date to the extent permitted under 18 <PAGE> Section 4.5 of the Common Agreement)). The Issuer may request that Restricted Payments or Tax Distributions be made from the Distribution Account by submitting a Disbursement Request for such purpose to the Collateral Agent at least 5 Business Days prior to the proposed Restricted Payment Date. Upon receipt of such Disbursement Request and the certificate required to be delivered by the Issuer pursuant to Section 4.5(a)(vii) of the Common Agreement (provided that no such certificate will be required for Tax Distributions), the Collateral Agent shall, unless it receives notice from the Controlling Party under the Common Agreement that such Disbursement Request fails to comply with the requirements set forth in this Agreement and the other Financing Documents, direct the Depositary Agent to withdraw Account Funds from the Distribution Account to make the Restricted Payments or Tax Distributions specified in such Disbursement Request (and shall provide an executed copy of such Disbursement Request to the Depositary Agent as part of such direction) on the proposed Restricted Payment Date so long as each of the conditions set forth in Section 4.5 of the Common Agreement are satisfied as of such Restricted Payment Date. Account Funds in the Distribution Account that are not disbursed in accordance with this Section 4.6.2 by the 30th day following an Annual Scheduled Payment Date shall be transferred to the Revenue Account, or on such later date to the extent permitted in accordance with Section 4.5 of the Common Agreement. 4.7
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Disbursements from the Distribution Account. No later than 12:30 P.M. on each Payment Date, the Custodian shall withdraw the funds then on deposit in the Distribution Account and apply such funds for the following purposes and in the following order of priority (the "Priority of Payments"), in each case to the extent of remaining funds:
Sample 1
Disbursements from the Distribution Account. Account Funds in the Distribution Account shall either be (a) transferred to the Revenue Account as provided in the last sentence of Section 4.1.2 or (b) subject to the conditions set forth in Section 4.5 of the Common Agreement, used to make Restricted Payments or Tax Distributions in accordance with this Section 4.6.2; provided that any and all Restricted Payments made pursuant to this Section 4.6.2 shall be subject to Section 2.1 of the Parent Agreement. Restricted Payments or Tax Distributions may be made from the Distribution Account only on Annual Scheduled Payment Dates (or within 30 days thereafter (or on such later date to the extent permitted under
Sample 1

Related to Disbursements from the Distribution Account

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Withdrawals From the Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Disbursements from the Escrow Account a. At such time as Escrow Agent has collected and deposited instruments of payment in the total amount of the Advance and has received such Common Stock via D.W.A.C from the Company which are to be issued to the Investor pursuant to the Standby Equity Distribution Agreement, the Escrow Agent shall notify the Company and the Investor. The Escrow Agent will continue to hold such funds until the Investor and Company execute and deliver a Joint Written Direction directing the Escrow Agent to disburse the Escrow Funds pursuant to Joint Written Direction at which time the Escrow Agent shall wire the Escrow Funds to the Company. In disbursing such funds, Escrow Agent is authorized to rely upon such Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Investor that Escrow Agent already has on file. Simultaneous with delivery of the executed Joint Written Direction to the Escrow Agent the Investor and Company shall execute and deliver a Common Stock Joint Written Direction to the Escrow Agent directing the Escrow Agent to release via D.W.A.C to the Investor the shares of the Company's Common Stock. In releasing such shares of Common Stock the Escrow Agent is authorized to rely upon such Common Stock Joint Written Direction from Company and may accept any signatory from the Company listed on the signature page to this Agreement and any signature from the Escrow Agent has on file. In the event the Escrow Agent does not receive the amount of the Advance from the Investor or the shares of Common Stock to be purchased by the Investor from the Company, the Escrow Agent shall notify the Company and the Investor.

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error.

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