Example ContractsClausesDisbursement of Advance Proceeds
Disbursement of Advance Proceeds
Disbursement of Advance Proceeds contract clause examples

Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Loan Parties to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s books. The proceeds of each Revolving Advance or Swing Loan requested by Borrowing Agent on behalf of Borrowers or deemed to have been requested by Borrowers under [Sections 2.2(a), 2.14, or 2.22]2]2] hereof shall, # with respect to requested Revolving Advances, to the extent Revolving Lenders make such Revolving Advances in accordance with [Sections 2.2(a), 2.14, or 2.22]2]2] hereof, and with respect to Swing Loans made upon any request or deemed request by Borrowing Agent for a Revolving Advance to the extent Swing Loan Lender makes such Swing Loan in accordance with [Section 2.4(b)] hereof, be made available to the Borrowers on the day so requested by way of credit to Borrowers’ operating account at Agent, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds, or # with respect to Revolving Advances deemed to have been requested by Borrowers or Swing Loans made upon any deemed request for a Revolving Advance by Borrowers, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request. During the Term, Borrowers may use the Revolving Advances and Swing Loans by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof.

Lender shall disburse each Loan Advance pursuant to an instruction of Borrower in accordance with the terms of this Agreement. Borrower agrees to pay all reasonable and documented out-of-pocket fees and expenses of Lender (including one outside counsel firm) incurred in connection with any such disbursement pursuant to this Agreement. Loan Advances shall be deemed fully made to Borrower on the date of disbursement in accordance with an instruction of Borrower. Lender shall not make Loan Advances more frequently than monthly.

Proceeds of Advance. The proceeds of the Advance are not used or to be used to make any Distributions including any Distributions to shareholders or other Related Parties, except to repay Retiring Debt.

Disbursement of Loan Proceeds The Obligor does not have the right to disbursement of additional loan proceeds or future advances with respect to the Loan(s)

Disbursement. On the Closing Date, assuming all of the terms and conditions set forth in Section 3.2 have been satisfied by the Company and the Purchasers, as applicable, and the Company has executed and delivered to each of the Purchasers this Agreement and such Purchaser’s Subordinated Note and any other related documents in form and substance reasonably satisfactory to the Purchasers, each Purchaser shall disburse in immediately available funds the Subordinated Note Amount set forth on each Purchaser’s respective signature page hereto to the Company in exchange for # an electronic securities entitlement through the facilities of DTC in accordance with the Applicable Procedures with a principal amount equal to such Subordinated Note Amount for Purchasers that qualify as QIBs, or # a Subordinated Note with a principal amount equal to such Subordinated Note Amount for Purchasers that do not qualify as QIBs ((i)

Disbursement. Prior to 4:00 p.m. (Charlotte, North Carolina time) on the date of a Loan hereunder, the Administrative Agent shall, subject to the satisfaction of the conditions set forth in [Article 4], disburse the amounts made available to the Administrative Agent by the Lenders in like funds by # transferring the amounts so made available by wire transfer to a deposit account maintained by the Borrower with the Administrative Agent or, at the Borrower’s option by effecting a wire transfer of such amounts to another deposit account designated by the Borrower to the Administrative Agent in a written Request for Loan or # in the case of a Loan the proceeds of which are to reimburse the Issuing Bank pursuant to [Section 2.2], transferring such amounts to such Issuing Bank. Unless the Administrative Agent shall have received notice from a Lender prior to 1:00 p.m. (Charlotte, North Carolina time) on the date of any Loan that such Lender will not make available to the Administrative Agent such Lender’s ratable portion of such Loan, the Administrative Agent may assume that such Lender has made or will make such portion available to the Administrative Agent on the date of such Loan and the Administrative Agent may,

Disbursement. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each Loan requested pursuant to this Section 2.03. The proceeds of each Loan requested under this Section 2.03 shall be disbursed by the Administrative Agent in Dollars in immediately available funds, in the case of the initial Borrowing, in accordance with the terms of the written disbursement letter from the Borrower, and in the case of each subsequent borrowing, by wire transfer to such bank account as may be agreed upon by the Borrower and the Administrative Agent from time to time or elsewhere if pursuant to a written direction from the Borrower. If at any time any Loan is funded in excess of the amount requested by the Borrower, the Borrower agrees to repay the excess to the Administrative Agent promptly upon the earlier to occur of # the Borrower’s discovery of the error and # notice thereof to the Borrower from the Administrative Agent or any applicable Lender.

Disbursement. Subject to the terms hereof, Landlord shall make monthly disbursements of the Allowance for Allowance Items as follows:

Advance Request. To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least three (3) Business Days before the Advance Date other than the Closing Date, which shall be at least one (1) Business Day) to Agent. Lender shall fund the Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan Advance is satisfied as of the requested Advance Date.

Initial Advance. On or prior to the New Loan Effective Date, Borrower shall have delivered to Agent the following:

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