Common use of Payment Date First Step Withdrawals and Transfers Clause in Contracts

Payment Date First Step Withdrawals and Transfers. Two Business Days prior to each Payment Date, the Administrative Agent shall make or direct the Operating Bank in writing to make (such direction to be communicated in computer file format or in such other form as the Administrative Agent, the Operating Bank, the Facility Agent and the Collateral Agent agree, provided that, in the case of communication in computer file format or any other form other than a written tangible form, a written tangible form thereof shall promptly thereafter be sent to the Operating Bank), on such Payment Date, the following withdrawals from and transfers to the Accounts in each case as specified in a Written Notice of the Administrative Agent to the Facility Agent, the Collateral Agent and the Operating Bank: