Common use of Release of Funds to a Third Party Clause in Contracts

Release of Funds to a Third Party. The Trustee shall draw on the Fund and pay to any third party for the purposes of funding the discharge of the Reclamation Obligations of a Beneficiary on presentation by the third party of a written direction or an order from the Tribunal, with such direction or order confirming the precise amount to be disbursed from the Trust Fund and the timing of the disbursement. On receipt of the written direction or order, the Trustee shall release the requested funds to the third party set out in the order or direction of the Tribunal.

Release of Funds to a Third Party. The Trustee shall draw on the Fund and pay to any third party for the purposes of funding the discharge of the Reclamation Obligations of a Beneficiary on presentation by the third party of a written direction or an order from the Tribunal, with such direction or order confirming the precise amount to be disbursed from the Trust Fund and the timing of the disbursement. On receipt of the written direction or order, the Trustee shall release the requested funds to the third party set out in the order or direction of the Tribunal.

Release of Funds to a Third Party. The Trustee shall draw on the Fund and pay may release funds that are held in accordance with this Agreement to any third party for the purposes of funding the discharge of the Reclamation Obligations of a Beneficiary on presentation by the third party of a written direction or an order from the Tribunal, with such direction or order confirming the precise amount to be disbursed from the Trust Fund Fund, and the timing of the disbursement. On receipt of the written direction or order, the Trustee shall release the requested funds to the third party set out in the order or direction of the Tribunal.

Release of Funds to a Third Party. The Trustee shall draw on the Fund and pay may release funds that are held in accordance with this Agreement to any third party for the purposes of funding the discharge of the Reclamation Obligations of a Beneficiary on presentation by the third party of a written direction or an order from the TribunalTribunal issued in the name of the third party, with such direction or order confirming the precise amount to be disbursed from the Trust Fund Fund, and the timing of the disbursement. On receipt of the written direction or order, the Trustee shall may release the requested funds to the third party set out in the order or direction of the Tribunal.