Remittance of Prepayments. The Borrowers shall remit or cause to be remitted to the Administrative Agent, with sufficient detail, via Electronic Transmission, to enable the Administrative Agent to appropriately identify the Collateral to which any amount remitted applies, all full or partial principal prepayments (regardless of the source of repayment) on any Collateral that a Borrower, a Servicer or a PSA Servicer has received or that have been deposited into the Collection Account no later than two (2) Business Days following the date such prepayment was received or deposited.
Appears in 4 contracts
Samples: Credit Agreement (Arbor Realty Trust Inc), Credit Agreement (Arbor Realty Trust Inc), Credit Agreement (CapLease, Inc.)
Remittance of Prepayments. The Borrowers shall remit or cause to be remitted to the Administrative Agent, with sufficient detail, via Electronic Transmission, to enable the Administrative Agent to appropriately identify the Collateral to which any amount remitted applies, all full or partial principal prepayments (regardless of the source of repayment) on any Collateral that a Borrower, a Servicer or a PSA Servicer has received or that have been deposited into the Collection Account no later than two three (23) Business Days following the date such prepayment was received or deposited.
Appears in 2 contracts
Samples: Credit Agreement (Northstar Realty), Credit Agreement (Northstar Realty)
Remittance of Prepayments. The Borrowers shall remit or cause to be remitted to the Administrative Agent, with sufficient detailAgent for the ratable benefit of the Lenders, via Electronic Transmission, to enable the Administrative Agent to appropriately identify the Collateral to which any amount remitted applies, all full or partial principal prepayments (regardless of the source of repayment) on any Collateral that a Borrower, a Servicer or a PSA Servicer has received or that have been deposited into the Collection Account no later than two (2) Business Days following the date such prepayment was received or deposited. The Borrowers shall include sufficient detail with each such Electronic Transmission to enable the Administrative Agent to appropriately identify the Collateral to which any amount remitted applies.
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