Daily Payments Sample Clauses

Daily Payments. B3.1.2 a Refundable Deposit; or B3.1.3 a combination of these.
Sample 1Sample 2Sample 3
Daily Payments. Borrowers shall maintain one or more lockboxes with Lender under its standard lockbox agreements (the "Lockboxes"). Borrower shall also maintain one or more accounts with Lender, each designated a "Controlled Disbursement Account". Lender will also establish on its books an account in the name of Borrower designated as the "Cash Collateral Account". Borrower shall direct all Account Debtors to remit payments on their Accounts to one or another of the Lockboxes. If sales of Inventory are made for cash, Borrower shall immediately deliver to Lender or deposit into the Cash Collateral Account the identical checks, cash or other forms of payment which Borrower receives. All proceeds of Collateral and all funds Borrower receives directly (other than Revolving Advances) shall be deposited in the Cash Collateral Account. Deposits in the Cash Collateral Account each day will be applied by Lender to the Revolving Loan in accordance with Section 5.4 until the Revolving Loan has been reduced to zero.
Sample 1
Daily Payments. The Trustee, acting in accordance with written instructions from the Servicer, shall make the following payments on each Business Day to the extent that there are amounts sufficient therefore in the Collection Account:
Sample 1
Daily Payments. Borrower shall maintain one or more lockboxes with Agent under its standard lockbox agreements or other institutions acceptable to Agent (the "Lockboxes"). Agent will establish on its books an account in the name of Borrower designated as the "Cash Collateral Account". Borrower shall direct all Account Debtors to remit payments on their Accounts to one or another of the Lockboxes. All proceeds of Collateral and all funds Borrower receives directly (other than Revolving Advances and Swingline Advances) shall be deposited in the Cash Collateral Account. Collected funds in the Cash Collateral Account on each Business Day, to the extent they do not exceed the Swingline Loan on such Business Day, shall be remitted by Agent to Boatmen's and applied by Boatmen's to reduce the Swingline Loan. The collected funds remaining in the Cash Collateral Account on the next to last Business Day of every calendar week after such remittance and application to reduce the Swingline Loan, to the extent they do not exceed the Aggregate Revolving CBR Loan on the Settlement Date, shall be remitted by Agent to Lenders weekly on the last Business Day of each such calendar week (the "Settlement Date") in accordance with their prorata shares of the Aggregate Revolving Commitment and applied by Lenders to reduce the Aggregate Revolving CBR Loan. Any collected funds still remaining in the Cash Collateral Account after such remittances and application to reduce the Swingline Loan and Aggregate Revolving CBR Loan shall be applied at Lender's discretion to (i) the outstanding principal balance of any Revolving LIBOR Advances when their respective Interest Periods expire, or (ii) the outstanding principal balance of any subsequent Revolving CBR Advances.
Sample 1
Daily Payments. The Borrower shall make a daily cash payment to Lender in an amount such that the Overadvance (as the same may be increased for additional availability reserves or reduced advance rates in accordance with the Loan Agreement) under the Loan Agreement as of each day from the date of this Agreement through October 16, 2000, shall be equal to the lesser of (a) $500,000 or (b) the amount of the Overadvance specified for such day on Exhibit A attached hereto. Each such payment to be made in accordance with the procedures set forth in the Loan Agreement.
Sample 1

Related to Daily Payments

  • Rental Payments The Lessee agrees to pay annual rental for the Premises at a rate per year during the term of this Lease not to exceed One Million One Hundred Thousand Dollars ($1,100,000.00). Each such semi-annual installment, payable as hereinafter described, shall be based on the value of that portion of the Premises which is complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. The first rental installment shall be due on the later of (i) January 15, 2024; or (ii) the date on which a portion of the Premises is available for use and occupancy by the Lessee. Thereafter, such rental shall be payable in advance in semi‑annual installments on January 15 and July 15 of each year. The last semi‑annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. All rentals payable under the terms of this Lease shall be paid by the Lessee to the trustee (the “Trustee”) under the trust indenture (the “Indenture”) securing the bonds to be issued by the Lessor to provide funds for the project on the Premises (such bonds, or bonds issued to refund such bonds, the “Bonds”). All payments so made by the Lessee shall be considered as payments to the Lessor of the rentals payable hereunder. After the sale of the Bonds, the annual rental shall be reduced to the multiple of $1,000 next higher than the principal and interest due in each twelve (12) month period commencing each year on June 30 payable in semi‑annual installments together with an amount sufficient to cover annual trustee fees and other administrative costs but not to exceed Five Thousand Dollars ($5,000). In addition, each such reduced semi-annual installment shall be based on the value of the portion of the Premises which is complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in substantially the form of Exhibit B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. The fixed annual rentals described in this Section 2 (the “Fixed Annual Rentals”) and the additional rentals described in Section 3 (the “Additional Rentals”) shall be payable solely from the budgeted revenues of the Lessee (the “Budgeted Revenues”). The Lessee may pay the Fixed Annual Rentals and the Additional Rentals or any other amounts due hereunder from any other revenues legally available to the Lessee; provided, however, the Lessee shall be under no obligation to pay any Fixed Annual Rentals or Additional Rentals or any other amounts due hereunder from any moneys or properties of the Lessee except the Budgeted Revenues received by the Lessee.

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