DESTINATION OF THE FUNDS Sample Clauses

DESTINATION OF THE FUNDS. El Mandatario xxxxxx destinar aquella parte de los Fondos que, con motivo de la Capitalización xx Xxxxx, el Mandante le acredite debe ir a prepagar a los tenedores xx xxxxx. In case of Conversion of Bonds, the Bank shall set aside a portion of the Funds to prepay those bondholders indicated by Madeco. No obstante lo anterior, en el evento que no se lleve a cabo la Capitalización xx Xxxxx o en caso que ésta sea parcial, el Mandatario destinará el remanente de los Fondos, en el orden que, a continuación se indica, únicamente a los siguientes fines: Notwithstanding number 1 above, in case of Conversion of Bonds the Bank shall distribute the remaining portion of the Funds according to the following order and objectives: El 50% del citado remanente lo destinará al prepago de la primera cuota de amortización de los préstamos reprogramados en virtud de los Contratos de Reprogramación y, de quedar todavía un saldo del remanente de este 50%, lo destinará, proporcionalmente, al prepago de la última cuota de amortización de dichos préstamos. The 50% of the remaining portion of the Funds shall be used to prepay the first amortization installment of the loans rescheduled under the Amended and Restated Agreements; and if there is still a remaining portion, it shall be used to ratably prepay the last amortization installment of said loans. El 50% restante del remanente de los Fondos continuará siendo administrado por el Mandatario de conformidad con el presente Xxxxxxx, por cuenta y a nombre del Mandante, con el objeto de destinar dicha cantidad al pago, en Mayo del año 2004, de la serie C de los bonos emitidos por Madeco S.A. The other 50% of the remaining portion of the Funds shall continue to be managed by the Bank pursuant to the provisions of this Agreement. The Bank, on behalf of Madeco, shall use such amount to pay the Class C bonds in May, 2004.
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DESTINATION OF THE FUNDS. That there is no statutory, legal, or contractual obstacle or obstacle of any other kind so that the amount borrowed pursuant to this Agreement is used according to the destiny set forth in this Agreement.
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DESTINATION OF THE FUNDS. Borrower shall use the funds of the Loan solely and exclusively to (1) pay (or reacquire) partially and in advance the debt instruments issued by Innova, S. de X.X. de C.V. named Senior Notes with maturity in 2013 for US$300,000,000.00 (Three Hundred Million Dollars, Lawful Currency of the United States <PAGE> of America) and expenses related to the execution of this Agreement and early payment of such Senior Notes, and (2) pay for obligations with financial cost for Borrower. Once having paid the obligations with financial cost mentioned in section (2) above, Borrower shall notify Bank in writing within 5 (five) Business Days after such payment, which obligations and for what amounts were paid with funds from the Loan. (i)
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Related to DESTINATION OF THE FUNDS

  • Persons Having Access to Assets of the Fund (a) No trustee or agent of the Fund, and no officer, director, employee or agent of the Fund's investment adviser, of any sub-investment adviser of the Fund, or of the Fund's administrator, shall have physical access to the assets of the Fund held by the Custodian or be authorized or permitted to withdraw any investments of the Fund, nor shall the Custodian deliver any assets of the Fund to any such person. No officer, director, employee or agent of the Custodian who holds any similar position with the Fund's investment adviser, with any sub-investment adviser of the Fund or with the Fund's administrator shall have access to the assets of the Fund.

  • NAME OF THE FUND The Fund hereby agrees that if the Manager shall at any time for any reason cease to serve as investment adviser to the Fund, the Fund shall, if and when requested by the Manager, eliminate from the Fund's name the name "Neuberger Berman" and thereaftxx xxxxxxn xxxx using the name "Neuberger Berman" or the initixxx "XX" ix xxxxection with its business or activities, and the foregoing agreement of the Fund shall survive any termination of this Agreement and any extension or renewal thereof.

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

  • Establishment of Escrow Account Prior to the Issuer initiating the Offering, and prior to the receipt of the first Subscriber funds, Escrow Agent shall establish an account for the Issuer (the “Escrow Account”). All parties agree to maintain the Escrow Account and Escrow Amount (as defined below) in a manner that is compliant with applicable banking and securities regulations. Escrow Agent shall be the sole administrator of the Escrow Account.

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