Common use of Distributions by the Administrative Agent Clause in Contracts

Distributions by the Administrative Agent. Each payment received by the Administrative Agent under the Finance Documents for another Party shall, subject to Clause 27.3 (Distributions of the Borrower) and Clause 27.4 (Clawback) be made available by the Administrative Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement, to such account as that Party may notify to the Administrative Agent by not less than five Business Days' notice with a bank in the principal financial centre of the country of that currency.

Appears in 2 contracts

Samples: Agreement (Ship Finance International LTD), Facility Agreement (Ship Finance International LTD)

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Distributions by the Administrative Agent. Each payment received by the Administrative Agent under the Finance Documents for another Party shall, subject to Clause 27.3 26.3 (Distributions of the Borrowerto an Obligor) and Clause 27.4 26.4 (Clawback) be made available by the Administrative Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this AgreementAgreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Administrative Agent by not less than five Business Days' notice with a bank in the principal financial centre of the country of that currency.

Appears in 1 contract

Samples: Term Facility Agreement (Cadence Design Systems Inc)

Distributions by the Administrative Agent. Each payment received by the Administrative Agent under the Finance Documents for another Party shall, subject to Clause 27.3 38.3 (Distributions of to the BorrowerBorrower or the Sponsor) and Clause 27.4 38.4 (ClawbackClawback and pre-funding) be made available by the Administrative Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this AgreementAgreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Administrative Agent by not less than five Business Days' notice with a bank specified by that Party in the principal financial centre of the country of that currency.

Appears in 1 contract

Samples: Facility Agreement (Cobalt International Energy, Inc.)

Distributions by the Administrative Agent. Each payment received by the Administrative Agent under the Finance Documents for another Party shall, subject to Clause 27.3 36.3 (Distributions of the Borrowerto an Obligor) and Clause 27.4 36.4 (ClawbackClawback and pre-funding) be made available by the Administrative Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this AgreementAgreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Administrative Agent by not less than five (5) Business Days' notice with a bank in the principal financial centre of the country of specified by that currencyParty.

Appears in 1 contract

Samples: Agreement (Dorian LPG Ltd.)

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Distributions by the Administrative Agent. Each payment received by the Administrative Agent under the Finance Documents for another Party shall, subject to Clause 27.3 36.3 (Distributions of the Borrowerto an Obligor) and Clause 27.4 36.4 (ClawbackClawback and pre-funding) be made available by the Administrative Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this AgreementAgreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Administrative Agent by not less than five (5) Business Days' notice with a bank in the principal financial centre of the country of specified by that currencyParty.

Appears in 1 contract

Samples: Agreement (Dorian LPG Ltd.)

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