Examples of Designated Deposit Account in a sentence
Bank shall credit proceeds of any Term Loan to the Designated Deposit Account.
Bank shall pay any surplus to the Loan Parties by credit to the Designated Deposit Account or to other Persons legally entitled thereto; the Loan Parties shall remain liable to Bank for any deficiency.
Bank shall pay any surplus to Borrower by credit to the Designated Deposit Account or to other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency.
Bank shall credit proceeds of a Credit Extension to the Designated Deposit Account.
The proceeds of the first advance of Term Loan shall be disbursed as follows: Term Loan $ 2,000,000.00 Less: Administrative Agent Fee to be remitted to Agile Capital Funding, LLC $ (100,000.00 ) TOTAL TERM LOAN NET PROCEEDS TO BORROWER $ 1,900,000.00 The aggregate net proceeds of the Term Loan shall be transferred to the Designated Deposit Account as follows: BORROWER: BIOFRONTERA INC.