Disbursing Agent definition
Examples of Disbursing Agent in a sentence
Lease Payments shall be payable to the Disbursing Agent at the place set forth in Exhibit B attached hereto or at such other place as the Disbursing Agent may from time to time designate in writing.
The Lessee will immediately notify the Lessor, the Disbursing Agent, and CoLT of any Event of Default or Event of Nonappropriation hereunder or any circumstance or event which, with the passage of time or the giving of notice, would qualify as an Event of Default hereunder.
The Lessee hereby requests that CoLT provide such instructions to the Disbursing Agent and invest amounts in the Acquisition Fund for such periods so that the funds will be available for disbursement when needed.
As long as no Event of Default or Event of Nonappropriation has occurred, and the Lessee’s right to control acquisition, construction, installation, and equipping of the Project has not otherwise been terminated, disbursements from the Acquisition Fund may be made by the Disbursing Agent to pay vendors or to reimburse the Lessee for Costs of the Project.
The Disbursing Agent may charge its ordinary and customary fees for such investments.