Distributions to Borrower. All transfers of funds on deposit in the Cash Management Account (as defined in the Mortgage Loan Agreement) to any Mezzanine Debt Service Account or otherwise to or for the benefit of Borrower or Lender pursuant to this Agreement, the Cash Management Agreement or any of the other Loan Documents are intended by Mortgage Borrower to constitute, and shall constitute, direct distributions from Mortgage Borrower to Borrower and shall be recorded accordingly in the books and records of the Mortgage Borrower and Borrower and comply with the separateness provisions set forth in Section 5.1 hereof. No provision of the Loan Documents or the Mortgage Loan Documents shall create a debtor-creditor relationship between Borrower and Mortgage Borrower or between Borrower and Mortgage Lender.
Distributions to Borrower. The Agent may (with the consent of the Borrower or in accordance with Clause 28 (Set-off)) apply any amount received by it for the Borrower in or towards payment (on the date and in the currency and funds of receipt) of any amount due from the Borrower under the Finance Documents or in or towards purchase of any amount of any currency to be so applied.
Distributions to Borrower. The Agent shall apply any amount received by it from the Borrower by crediting the same to the Collection Account for application in accordance with clause 8 (Application of Proceeds) of the Proceeds Deed.
Distributions to Borrower. No subsidiary of Borrower shall become prohibited, directly or indirectly, from paying any dividends to Borrower, from making any other distributions on such subsidiary's capital stock, from repaying to Borrower any loans or advances to such subsidiary or from transferring any of such subsidiary's property or assets to Borrower or any other subsidiary of Borrower.
Distributions to Borrower. All disbursements of funds on deposit in the Cash Management Account or Replacement Cash Management Account, as the case may be, to Lender or otherwise to or for the benefit of Lender or Borrower pursuant to the Mortgage Loan Agreement or this Agreement (as applicable), the Cash Management Agreement or Replacement Cash Management Agreement (as applicable) or any of the other Mortgage Loan Documents or Loan Documents (as applicable) are intended by Borrower and Mortgage Borrower to constitute, and shall constitute, distributions from Mortgage Borrower to Senior Mezzanine Borrower to Borrower. No provision of the Loan Documents or the Mortgage Loan Documents shall create a debtor-creditor relationship between Borrower and Mortgage Lender or between Lender and Mortgage Borrower.
Distributions to Borrower. Notwithstanding anything in ------------------------- this Loan Agreement to the contrary, Agent shall make payment of all amounts from time to time distributable to Borrower pursuant to this Article directly to Borrower, unless it shall have received written instructions from Borrower to the contrary.
Distributions to Borrower. All disbursements of funds on deposit in the Cash Management Account or Replacement Cash Management Account, as the case may be, to Lender or otherwise to or for the benefit of Lender or Borrower pursuant to the Mortgage Loan Agreement or this Agreement (as applicable), the Cash Management Agreement or Replacement Cash Management Agreement (as applicable) or any of the other Mortgage Loan Documents or Loan Documents (as applicable) are intended by Borrower and Mortgage Borrower to constitute, and shall constitute, distributions from Mortgage Borrower to Borrower. No provision of the Loan Documents or the Mortgage Loan Documents shall create a debtor-creditor relationship between Borrower and Mortgage Lender or between Lender and Mortgage Borrower.
Distributions to Borrower. The Agent shall apply any amount received by it for the Borrower in or towards payment (on the date and in the currency and funds of receipt) of any amount due from the Borrower under the Transaction Documents.
Distributions to Borrower. Borrower shall be entitled to apply or cause to be applied all funds described in Section 10.1(e) above for such purposes as Borrower shall desire. Notwithstanding the foregoing or anything to the contrary contained hereunder or under any of the other Loan Documents, upon the occurrence and during the continuance of an Event of Default, Borrower shall have no right to apply such funds for any purpose (including, without limitation, distributions to Members), without Lender’s prior written approval, which approval may be granted or withheld in Lender’s sole and absolute discretion.
Distributions to Borrower. All transfers of funds on deposit in the Cash Management Account (as defined in the Mortgage Loan Agreement) to any Mezzanine Debt Service Account or otherwise to or for the benefit of Borrower or Lender pursuant to this Agreement, the Cash Management Agreement or any of the other Loan Documents are intended by Mortgage Borrower to constitute, and shall constitute, direct distributions from Mortgage Borrower to Mezzanine A Borrower and from Mezzanine A Borrower to Borrower and shall be recorded accordingly in the books and records of the Mortgage Borrower, Xxxxxxxxx A Borrower and Borrower and comply with the separateness provisions set forth in Section 5.1 hereof. No provision of the Loan Documents, the Mezzanine A Loan Documents or the Mortgage Loan Documents shall create a debtor-creditor relationship between Borrower, Mezzanine A Borrower and Mortgage Borrower or between Borrower and Mortgage Lender or Mezzanine A Lender.
