Common use of Distribution of Payments Clause in Contracts

Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.

Appears in 11 contracts

Samples: Loan Agreement, Loan Agreement (Teekay Offshore Partners L.P.), Teekay LNG Partners L.P.

AutoNDA by SimpleDocs

Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 (Fees) and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.

Appears in 5 contracts

Samples: Loan Agreement (DHT Holdings, Inc.), Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (DHT Holdings, Inc.)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.

Appears in 3 contracts

Samples: Facility Agreement, Facility Agreement (Teekay LNG Partners L.P.), Facility Agreement (Teekay LNG Partners L.P.)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.

Appears in 3 contracts

Samples: Loan Agreement (Teekay Tankers Ltd.), Loan Agreement, Loan Agreement (Teekay LNG Partners L.P.)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s 's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Teekay Shipping Corp), Loan Agreement (Teekay Offshore Partners L.P.)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lendersof the Finance Parties) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderFinance Party.

Appears in 2 contracts

Samples: Loan Facility Agreement (Gulfmark Offshore Inc), Facility Agreement (Gulfmark Offshore Inc)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that LenderBank’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lendersof the Finance Parties) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderFinance Party.

Appears in 2 contracts

Samples: Gulfmark Offshore Inc, Gulfmark Offshore Inc

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that LenderBank’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees’ Insurances (with the exception of any amounts payable pursuant to Clause 9 7 and/or any the Fee Letter and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks alone) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.

Appears in 2 contracts

Samples: Agreement (Usg Corp), Agreement (Usg Corp)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s 's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 (Fees) and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.

Appears in 1 contract

Samples: Third Supplemental Agreement (Genco Shipping & Trading LTD)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees' Insurances (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

AutoNDA by SimpleDocs

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that LenderBank’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.

Appears in 1 contract

Samples: Loan Facility Agreement (Teekay Shipping Corp)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender that LenderXxxxxx’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.

Appears in 1 contract

Samples: Teekay Offshore Partners L.P.

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees' Insurances (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 9.2 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.

Appears in 1 contract

Samples: Guarantee Facility Agreement (Stolt Offshore S A)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees' Insurances (with the exception of any amounts payable pursuant to Clause 9 7 and/or any the Fee Letter and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender the Banks that LenderBank’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lendersof the Finance Parties) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderFinance Party.

Appears in 1 contract

Samples: Loan Facility Agreement (Gulfmark Offshore Inc)

Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees' Insurances (with the exception of any amounts payable pursuant to Clause 9 9.1 and/or any the Fee Letter and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.

Appears in 1 contract

Samples: Loan Facility Agreement (Stolt Offshore S A)

Time is Money Join Law Insider Premium to draft better contracts faster.