Common use of Funds Transfer Disbursements Clause in Contracts

Funds Transfer Disbursements. (i) Borrower hereby authorizes Administrative Agent to disburse the proceeds of the Loan pursuant to the Loan Documents as requested by an authorized signatory pursuant to a completed Transfer Authorizer Designation in the form of Exhibit M attached hereto to the account designated thereon. Borrower agrees to be bound by any transfer request: (A) authorized or transmitted by Borrower or, (B) made in Borrower’s name and accepted by Administrative Agent in good faith and in compliance with these transfer instructions, even if not properly authorized by Borrower. Borrower further agrees and acknowledges that Administrative Agent may rely solely on any bank routing number or identifying bank account number or name provided by Borrower to effect a wire or funds transfer even if the information provided by Borrower identifies a different bank or account holder than named by Borrower. Administrative Agent is not obligated or required in any way to take any actions to detect errors in information provided by Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Equity One, Inc.), Credit Agreement (Equity One Inc)

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Funds Transfer Disbursements. (ia) Borrower Borrowers hereby authorizes authorize Administrative Agent to disburse the proceeds of the any Loan made by Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized signatory pursuant representative of the Borrowers to a completed any of the accounts designated in the Transfer Authorizer Designation in the form of Exhibit M attached hereto to the account designated thereonform. Borrower agrees Borrowers agree to be bound by any transfer request: (Ai) authorized or transmitted by Borrower or, Borrowers; or (Bii) made in Borrower’s name Borrowers’ name(s) and accepted by Administrative Agent in good faith and in compliance with these transfer instructions, even if not properly authorized by BorrowerBorrowers. Borrower Borrowers further agrees agree and acknowledges acknowledge that Administrative Agent may rely solely on any bank routing number or identifying bank account number or name provided by Borrower Borrowers to effect a wire or of funds transfer even if the information provided by Borrower Borrowers identifies a different bank or account holder than named by Borrowerthe Borrowers. Administrative Agent is not obligated or required in any way to take any actions to detect errors in information provided by BorrowerBorrowers.

Appears in 2 contracts

Samples: And Consolidated Loan Agreement (KBS Real Estate Investment Trust II, Inc.), And Consolidated Loan Agreement (KBS Real Estate Investment Trust II, Inc.)

Funds Transfer Disbursements. (ia) Borrower Borrowers hereby authorizes authorize Administrative Agent Agent, to disburse the proceeds of the any Loan made by Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized signatory pursuant representative of the Borrowers to a completed any of the accounts designated in the Transfer Authorizer Designation in the form of Exhibit M attached hereto to the account designated thereonform. Borrower agrees Borrowers agree to be bound by any transfer request: (Ai) authorized or transmitted by Borrower or, Borrowers; or (Bii) made in Borrower’s name Borrowers’ name(s) and accepted by Administrative Agent in good faith and in compliance with these transfer instructions, even if not properly authorized by BorrowerBorrowers. Borrower Borrowers further agrees agree and acknowledges acknowledge that Administrative Agent may rely solely on any bank routing number or identifying bank account number or name provided by Borrower Borrowers to effect a wire or of funds transfer even if the information provided by Borrower Borrowers identifies a different bank or account holder than named by Borrowerthe Borrowers. Administrative Agent is not obligated or required in any way to take any actions to detect errors in information provided by BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (KBS Real Estate Investment Trust II, Inc.)

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Funds Transfer Disbursements. (ia) Borrower Borrowers hereby authorizes authorize Administrative Agent Agent, to disburse the proceeds of the any Loan made by Lenders or any of their Affiliates pursuant to the Loan Documents as requested by an authorized signatory pursuant representative of Borrowers to a completed any of the accounts designated in the Transfer Authorizer Designation identified in the form of Exhibit M attached hereto to the account designated thereon. Borrower agrees G. Borrowers agree to be bound by any transfer request: (Ai) authorized or transmitted by Borrower or, Borrowers; or (Bii) made in Borrower’s Borrowers’ name and accepted by Administrative Agent in good faith and in compliance with these transfer instructions, even if not properly authorized by BorrowerBorrowers. Borrower Borrowers further agrees and acknowledges that Administrative Agent may rely solely on any bank routing number or identifying bank account number or name provided by Borrower Borrowers to effect a wire or of funds transfer even if the information provided by Borrower Borrowers identifies a different bank or account holder than named by Borrowerthe Borrowers. Administrative Agent is not obligated or required in any way to take any actions to detect errors in information provided by BorrowerBorrowers.

Appears in 1 contract

Samples: Loan Agreement (KBS Real Estate Investment Trust III, Inc.)

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