Sale Proceeds. The proceeds of sale of any new Series of Notes shall be wired to the Collection and Funding Account, and the Indenture Trustee shall disburse such sale proceeds at the direction of the Administrator on behalf of the Issuer, except to the extent such funds are needed to satisfy the Collateral Test. The Administrator on behalf of the Issuer may direct the Issuer to apply such proceeds to reduce pro rata based on Invested Amounts, the VFN Principal Balance of any Classes of Variable Funding Notes, or to redeem any Series of Notes in accordance with Section 13.1. In the absence of any such direction, the proceeds of such sale shall be distributed to the Depositor or at the Depositor’s direction on the Issuance Date for the newly issued Notes. The Administrator shall deliver to the Indenture Trustee a report demonstrating that the release of sale proceeds pursuant to the Issuer’s direction will not cause a failure of the Collateral Test, as a precondition to the Indenture Trustee releasing such proceeds.
Sale Proceeds. (A) Bank shall advance settlement proceeds to the Lender on settlement date for the sale of a Security on Loan when sufficient stock is held and the sale instruction is received by Bank by the specified cut-off time, even where such proceeds are not received, it being understood that Bank may reverse such advance if the sale proceeds are not received in a reasonable amount of time as determined by Bank. Lender shall pay compensation to Bank for any such advance, upon receipt of such proceeds during the term of the advance (or upon Bank’s reversing such advance) in accordance with the Custody Agreement. (B) Bank shall update its records to reflect the status of such Securities as having been sold.
Sale Proceeds. (i) Bank shall accept Instructions from Agent in writing (which may be electronic) of the amount of collateral to be delivered to the Borrower and shall act on such Instructions only upon or after receipt of the Securities on Loan. (ii) Bank shall advance settlement proceeds to the Lender on settlement date for the sale of a Security on Loan, even where such proceeds are not received, it being understood that Bank may reverse such advance if the sale proceeds are not received in a reasonable amount of time as determined by Bank. Agent shall pay compensation of federal funds plus 50 basis point for the first two Business Days and federal funds plus 100 basis points thereafter to Bank for any such advance, and as the same may be amended from time to time (iii) Bank shall update its records to reflect the status of such Securities as having been sold and shall provide access to such records via JPM VIEWS to enable Lender and Agent to manage on loan inventory.
Sale Proceeds. 12.1 subject to paragraph 12.3, title to the Lot will only pass to the Buyer on receipt by us in cleared funds of the full Purchase Price. Once paid the Purchase Price and all other sums due to us, we will release the Lot to the Buyer;
Sale Proceeds. You hereby provide authorisation that any cash balance be retained in your account and to be paid out to you only on receipt of specific instructions from you. Please note that any such proceeds may be used for the discharge of liabilities as provided for in paragraphs 12, 13 and 14.
Sale Proceeds. The Partnership shall distribute Sale Proceeds on a quarterly (or, at the election of the General Partner, more frequent) basis, in an amount determined by the General Partner in its sole discretion, to the Partners who are Partners on the Partnership Record Date with respect to such quarter (or other distribution period) as follows:
Sale Proceeds. The proceeds of any sale or foreclosure of the Property or any portion thereof shall be applied to the following in the following order of priority: (i) the payment of the costs and expenses of the foreclosure proceedings with respect to such Property (including reasonable counsel fees and disbursements actually incurred and advertising costs and expenses), liabilities and advances made or incurred under this Security Instrument or any Loan Document, and reasonable receivers' and trustees' fees and commissions and fees and expenses incurred by Lender, together with interest at the Default Rate to the extent payable, (ii) payment of any other sums advanced by Lender (or any advancing agent on its behalf) in accordance with the terms hereof and not repaid to it by Borrower, together with interest at the Default Rate to the extent payable, (iii) payment of all sums due under the Note and the Loan Documents in such order and priority as Lender shall elect in its sole and absolute discretion; and (iv) payment of any remaining Obligations and (v) any surplus to Borrower or other party legally entitled thereto.
Sale Proceeds. The proceeds of any sale or foreclosure of the Mortgaged Property or any portion thereof shall be applied to the following in the following order of priority the payment of: (i) the costs and expenses of the foreclosure proceedings with respect to the Property (including reasonable counsel fees and disbursements actually incurred and advertising costs and expenses), liabilities and advances made or incurred under this Mortgage, and reasonable receivers' and trustees' fees and commissions and fees and expenses incurred by Mortgagee, together with interest at the Default Rate to the extent payable, (ii) any other sums advanced by Mortgagee (or any advancing agent on its behalf) in accordance with the terms hereof and not repaid to it by Mortgagor, together with interest at the Default Rate to the extent payable, (iii) all sums due under the Note in the order of priority set forth therein, and (iv) any surplus to Mortgagor or other party legally entitled thereto.
Sale Proceeds. (a) Sale proceeds will be paid by direct credit to the Settlement Account.
Sale Proceeds. In any Approved Sale or Forced Sale, the aggregate consideration received by the Members shall be distributed among the Members as if such consideration were received by the Company, the debts and obligations of the Company paid in full (including without limitation any prepayment penalties with respect to outstanding indebtedness and all asset management fees payable to the Asset Manager under the Asset Management Agreement), and the proceeds distributed pursuant to Section 7.3 hereof.
