Disbursements. Each Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit and shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by hand delivery, facsimile or other electronic delivery) of such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse such LC Disbursement.
Disbursements. The Firm bills its clients for cost advances on the clients behalf for items such as filing fees, transcript and deposition fees, and expert witness fees. Where the expenses involve payment to persons outside the firm, we may request that AVRS pay those expenses directly. Further, it may be necessary to incur expenses for items such as photocopying, messengers, overnight mail, postage, deposition transcription, telephone, facsimile, computerized legal research, and staff overtime. Similarly, matters may require travel, lodging and meals. These types of expenses are billed as incurred in handling your matter and such expenses will be separately itemized on our billing statements. Some of these expenses represent only out-of-pocket costs, while others include an allocation of overhead costs associated with the items, or a combination of both factors. The amounts of the charges are reconsidered periodically, and you will be responsible for paying the charges in effect when they are incurred. The Firm shall obtain AVRSs approval before incurring any out-of-pocket expenses in excess of $500.00.
Immediately upon the issuance of each Letter of Credit, each [[Organization C:Organization]] shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from [[Organization B:Organization]] a participation in such Letter of Credit and each drawing thereunder in an amount equal to such [[Organization C:Organization]]'s Revolver A Commitment Percentage of the Maximum Face Amount of such Letter of Credit and the amount of such drawing, respectively.
Monthly Disbursements. From time to time, if Tenant desires disbursement of any portion of the Tenant Improvement Allowance, Tenant shall deliver to Landlord, on or before the fifteenth (15th) day of the month (and not more often than once per month) the following: # an Application and Certificate for Payment (AIA Document G702) (Application for Payment) signed by Tenants Architect, together with an updated schedule of values indicating the portion of the Tenant Improvement Work that has been completed and the portion that has not been completed as of the date of the request for payment; # an updated Budget setting forth in reasonable detail # a computation of the total costs of performing the Tenant Improvements incurred by Tenant during the prior month (including costs related to Plan Modifications) and # the cumulative Tenant Improvement costs incurred through the end of such month; # a calculation of the portion of the request for payment due Tenants Contractor that is Landlords Share (as defined below in this [Section 6.5.1]); # invoices from all of Tenants Agents for labor rendered and materials delivered to the Premises; # executed conditional mechanics lien releases from Tenants Contractor and Tenants Agents included in the Application for Payment, together with unconditional mechanics lien releases from Tenants Contractor and Tenants Agents with respect to payments made by Landlord pursuant to Tenants prior submission of an Application for Payment, which shall comply with the appropriate provisions of California Civil Code Sections 8132 and 8134; and # all other information reasonably requested by Landlord or Landlords lender to support the disbursement. Tenants request for payment shall constitute Tenants representation to Landlord that, without limiting any warranty or other similar claims that Tenant may have against Tenants Contractor or Tenants Agents, Tenant has accepted and approved for payment the work furnished and/or materials supplied as set forth in the Application for Payment, and that the amount requested constitutes payment for Permitted Allowance Items that have been incurred by Tenant or are currently owing to Tenants Contractor or Tenants Agents. Provided that the Lease is then in full force and effect and Tenant is not in default of any of its obligations under the Lease, including this Agreement, within forty-five (45) days after receipt of the foregoing, Landlord shall deliver a check to Tenant made payable to Tenants Contractor or as otherwise directed in writing by Tenant, in payment of the lesser of: # Landlords Share, if applicable, of the Permitted Allowance Items shown in the applicable Application for Payment, after first deducting any amounts payable pursuant to [Sections 2.2.7 and 6.3]3] above, and # the balance of any remaining available portion of the Tenant Improvement Allowance (excluding the Final Retention), provided that Landlord may withhold from such disbursement amounts attributable to work that Landlord reasonably determines does not comply with the Approved TI Construction Drawings, as amended by Plan Modifications approved by Landlord. Landlords Share shall be the proportion that the Tenant Improvement Allowance bears to the estimated total cost of the Tenant Improvements as reflected in the current Budget. For example, if the estimated total cost of the Tenant Improvements in the current Budget is if the estimated total cost of the Tenant Improvements changes during the course of construction due to changes in the scope of the work, increased costs of materials, delays, or any other reason, Landlords Share shall be appropriately adjusted to reflect the estimated total cost of the Tenant Improvement at the time of each draw request. Landlords payment of such amounts shall not be deemed Landlords approval
Certain Disbursements/Receipts. The Parties hereto contemplate that, from time to time on or after the Effective Time, a member of a Partys Group (any such member, the Paying Party), as a convenience to a member of the other Partys Group (the Responsible Party), in connection with the transactions contemplated by this Services Agreement, may make certain payments that are properly the responsibility of the Responsible Party (any such payment made, a Disbursement). Similarly, from time to time on or after the Effective Time, a member of a Partys Group (any such member, the Receiving Party) may receive from Third Parties certain payments to which a member of the other Partys Group is entitled (the Other Party, and any such payment received, a Receipt). Accordingly, with respect to Disbursements and Receipts (each of which shall be subject to [Section 3.4]), the Parties hereto agree as follows.
Disbursements from Replacement Reserve Account. shall disburse to Replacement Reserve Funds (or any portion thereof) from the Replacement Reserve Account from time to time, but not more frequently than once in any thirty (30) day period, upon # satisfaction of the Disbursement Conditions for Capital Expenditures or Replacements, # at ’s option, delivery to of a title search or title endorsement, in each event at ’s cost, indicating that the Property is free from all Liens, claims and other encumbrances not previously approved by , and # at ’s option, if the cost of the Replacements exceeds $25,000.00, delivery to of a report, at ’s cost, satisfactory to in its reasonable discretion from an architect or engineer approved by in respect of such architect or engineer’s inspection of the Replacements. shall have paid all invoices with respect to which a disbursement is requested or, at the request of , if is requesting a payment rather than a reimbursement of all such costs, shall issue joint checks, payable to and the contractor (or a direct payment directly to such contractor), supplier, materialman, mechanic, subcontractor or other party to whom payment is due. In the case of payments made by joint check or direct payment, may require a conditional waiver of lien from each Person receiving payment prior to ’s disbursement. Any lien waiver (conditional or otherwise) delivered hereunder shall conform to the requirements of applicable law and shall cover all work performed and materials supplied (including equipment and fixtures) for the Property by that contractor, supplier, subcontractor, mechanic or materialman through the date covered by the current reimbursement request (or, if payment to such contractor, supplier, subcontractor, mechanic or materialmen is to be made by a joint check, the release of lien shall be effective through the date covered by the previous release of funds request). During a Trigger Period, may require that any disbursement for costs that have not been previously paid by (as demonstrated by evidence acceptable to ) be made either directly to the contractor, vendor or supplier (if any) or, at ’s option, by two-party check jointly to and such Person. shall not be required to disburse Replacement Reserve Funds in an amount less than $5,000 (or a lesser amount if the total amount remaining in the Replacement Reserve Account is less than $5,000). may require an inspection of the Property at ’s expense prior to making a monthly disbursement in order to verify completion of replacements and repairs of items in excess of $25,000.00 for which reimbursement is sought.
“Other Permitted LC Facility LC Disbursements” means “LC Disbursements” or any similar or analogous definition under the documents evidencing any Other Permitted LC Facility.
and shall notify the Issuing Bank by telephone (confirmed by telecopy or e-mail) of such selection not later than the time set forth in [Section 2.05(d)] prior to the scheduled date of such reimbursement; provided that each reimbursement of LC Disbursements in Dollars shall be applied to repay any outstanding and unreimbursed ABR LC Disbursements before any other LC Disbursements. If the Borrower fails to make a timely selection of the outstanding LC Disbursement or LC Disbursements to be reimbursed, such payment shall be applied to reimburse outstanding LC Disbursements in the same Currency and, solely in the case of any such payment in Dollars, first, to pay any outstanding ABR LC Disbursements and, second, to other outstanding LC Disbursements in the order of the remaining duration of their respective Interest Periods (the LC Disbursement with the shortest remaining Interest Period to be repaid first).
Section # Disbursements 32
disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due the Administrative Agent under [Sections 2.09, 9.07 and 10.04]4].
Attorney Costs. Unless waived by the Administrative Agent, the Borrower shall have paid in accordance with [Section 11.04] of the Credit Agreement all reasonable and documented fees, charges and disbursements of one primary outside counsel to the Administrative Agent and of special or local counsel to the Administrative Agent to the extent such special or local counsel is reasonably necessary (directly to such counsel if requested by the Administrative Agent) to the extent invoiced prior to or on the date hereof, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent).
provided that if such payment is a payment of the principal amount of any Loans or L/C Disbursements in respect of which such Defaulting Lender has not fully funded its appropriate share, such payment will be applied solely to pay the Loans of, and L/C Disbursements owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Disbursements owed to, such Defaulting Lender. Any payments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Section 2.23(1)(b) will be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.
second, to payment of that portion of the Obligations constituting fees, expenses, indemnities and other amounts (other than principal, reimbursement obligations in respect of LC Disbursements, interest and Letter of Credit fees) payable to and the Issuing Banks (including fees and disbursements and other charges of counsel to and the Issuing Banks payable under [Section 8.03]) arising under the Loan Documents, ratably among them in proportion to the respective amounts described in this clause (ii) payable to them;
Any prepayment pursuant to this paragraph # shall be applied, first, to outstanding and unreimbursed LC Disbursements and second, as cover for the undrawn amount of any Letters of Credit.
Records. The Trustee will maintain records of receipts and disbursements and furnish to the Employer and/or Administrator for each Plan Year a written annual report pursuant to [Section 7.9].
fourth, pro rata to the payment or prepayment of # principal of the Loans and unreimbursed LC Disbursements, # any Secured Swap Obligations then owing and # any Banking Services Obligations then owing;
Except as otherwise provided herein, the Consultant shall bear all expenses and disbursements relating to the Consultant’s activities hereunder, and the Consultant shall be solely responsible for the payment thereof.
First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to Administrative Agent) payable to Administrative Agent in its capacity as such;
Reconciliation of Improvement Allowance. The parties acknowledge that the final Improvement Allowance may be more or less than the estimated Improvement Allowance depending on whether the final rentable square footage of the Premises is more or less than the estimated rentable square footage. Upon Substantial Completion of the Improvements and final determination of the rentable square footage of the Premises, any shortfall due to as a result of adjustments to the Improvement Allowance shall be paid to with the next payment of Base Rent, and any refund due to as a result of adjustments shall be deducted by from ’s next payment of Base Rent. Disbursements of the Improvement Allowance shall be made pari passu with disbursements of the ’s Contribution Deposit from the TI Account provided that such disbursements of the Improvement Allowance are otherwise permissible pursuant to this Work Letter.
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