Common use of Conditions Precedent to Disbursement Clause in Contracts

Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (I) the Trustee shall have submitted, in accordance with the provisions of Section 3(a) herein, a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in and (II) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event of Default the indebtedness represented by the Securities has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)).

Appears in 4 contracts

Samples: Escrow Agreement (RCN Corp /De/), Escrow Agreement (Optel Inc), Escrow Agreement (Verio Inc)

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Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (I) the Trustee Company shall have submitted, in accordance with the provisions of Section 3(a) herein), a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in in, and (II) the Escrow Agent shall not have received any written notice from the Trustee that as a result of an Event of Default under the Indenture the indebtedness represented by the Securities Notes has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)).

Appears in 2 contracts

Samples: Escrow Agreement (Versatel Telecom Bv), Escrow Agreement (Versatel Telecom International N V)

Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (I) the Trustee Company shall have submitted, in accordance with the provisions of Section 3(a) herein), a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in in, and (II) the Escrow Agent 9 -9- shall not have received any notice from the Trustee that as a result of an Event of Default the indebtedness represented by the Securities has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)).

Appears in 1 contract

Samples: Escrow Agreement (Global Telesystems Group Inc)

Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (Ii) the Trustee Company shall have submitted, in accordance with the provisions of Section 3(a) herein), a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in in, and (IIii) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event of Default the indebtedness represented by the Securities has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)).

Appears in 1 contract

Samples: Escrow and Security Agreement (Bell Technology Group LTD)

Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (I) the Trustee Company shall have submitted, in accordance with the provisions 9 of Section 3(a) herein), a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in in, and (II) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event of Default the indebtedness represented by the Securities has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)).

Appears in 1 contract

Samples: Escrow Agreement (Hermes Europe Railtel B V)

Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (IA) the Trustee shall have submitted, in accordance with the provisions of Section 3(a) herein, a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately appropriate filled in and (IIB) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event of Default (as defined in the Indenture) the indebtedness represented by the Securities Notes has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)6(c)(iii) hereof).

Appears in 1 contract

Samples: Escrow and Disbursement Agreement (Resort Investment LLC)

Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (IA) the Trustee shall have submitted, in accordance with the provisions of Section 3(a) herein, a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in and (IIB) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event event of Default (as defined in the Indenture) the indebtedness represented by the Securities Notes has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)) hereof).

Appears in 1 contract

Samples: Escrow and Disbursement Agreement (Heartland Wireless Communications Inc)

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Conditions Precedent to Disbursement. The Escrow Agent's payment of ------------------------------------ any disbursement shall be made only if: (I) the Trustee Company shall have submitted, in accordance with the provisions of Section 3(a) herein), a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in in, and (II) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event of Default the indebtedness represented by the Securities has been accelerated and has become due and payable in accordance with the terms of the Indenture (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)).

Appears in 1 contract

Samples: Escrow Agreement (Equinix Inc)

Conditions Precedent to Disbursement. The Escrow Agent's payment ------------------------------------ of any disbursement shall be made only if: (I) the Trustee Company shall have submitted, in accordance with the provisions of Section 3(a) herein), a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A --------- with blanks appropriately filled in in, and (II) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event of Default the indebtedness represented by the Securities has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)).

Appears in 1 contract

Samples: Escrow Agreement (Concentric Network Corp)

Conditions Precedent to Disbursement. The Escrow Agent's payment of any disbursement shall be made only if: (Ii) the Trustee shall have submitted, in accordance with the provisions of Section 3(a) herein, a completed Payment Notice and Disbursement Request to the Escrow Agent substantially in the form of Exhibit A with blanks appropriately filled in and (IIii) the Escrow Agent shall not have received any notice from the Trustee that as a result of an Event of Default the indebtedness represented by the Securities Notes has been accelerated and has become due and payable (in which event the Escrow Agent shall apply all Available Funds as required by Section 6(b)(iii)) hereof).

Appears in 1 contract

Samples: Escrow and Disbursement Agreement (Renaissance Cosmetics Inc /De/)

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