Direct Disbursement. If, at any time, Administrative Agent or the Letter of Credit Issuer shall not have received on the date due, any payment of interest upon the Loans or any fee described herein, Administrative Agent may direct the disbursement of funds from the applicable Collateral Account to Lenders in accordance with the terms hereof, to the extent available therein for payment of any such amount.
Direct Disbursement. With at least three (3) Business Days (or on the same Business Day for an Alternate Base Rate Loan or Alternate Base Rate Rollover) notice prior to any Interest Payment Date on which interest is payable hereunder by any Borrower, such Borrower may request in writing, within the limits of the Available Commitment and so long as each of the conditions specified in Section 6.2 and if applicable Section 6.3 (to the extent not previously satisfied at the time such Qualified Borrower initially becomes a Borrower) have been satisfied, that the Administrative Agent disburse to the Lenders and the Letter of Credit Issuer, in accordance with the terms hereof, in immediately available funds, an amount equal to the interest or fees due to them from such Borrower, which disbursement shall be deemed to be a Loan pursuant to Section 2.3. Such Loan shall be either: (i) a LIBOR Rate Loan, if the applicable Lender can consolidate such Loan with an existing LIBOR Rate Loan that is then subject to a Rollover; or (ii) an Alternate Base Rate Loan. Such Loan will not be subject to the minimum and multiple amount limitations in Section 2.4. If the Lenders or the Letter of Credit Issuer shall not have received on the date due, any payment of interest upon any Loan or any fee described herein, the Administrative Agent may, without prior notice to or the consent of the Credit Parties, following the expiration of all applicable notice and grace periods specified in Section 10.1(a), (b) or (c), as applicable, related to the payments of such amounts, within the limits of the Available Commitment, disburse to the Lenders or the Letter of Credit Issuer, in accordance with the terms hereof, in immediately available funds, an amount equal to any interest or fees due to them, which disbursement shall be deemed to be an Alternate Base Rate Loan pursuant to Section 2.3. After any such disbursement of funds as contemplated in this Section 3.3(c), the Administrative Agent shall promptly deliver written notice of such disbursement to the applicable Borrower(s); provided that the failure of the Administrative Agent to give such notice will not affect the validity of such disbursement.
Direct Disbursement. If, at any time, the Administrative Agent shall not have received on the date due, any payment of interest upon the Loans or any fee described herein, the Administrative Agent may direct the disbursement of funds from the Collateral Accounts to the Lenders, in accordance with the terms hereof, to the extent available therein for payment of any such amount. If, at any such time, the amount available in the Collateral Accounts is not sufficient for the full payment of such amounts due, the Administrative Agent may, without prior notice to or the consent of any Borrower, within the limits of the Available Commitment, disburse to the Lenders in immediately available funds an amount equal to the interest or fee due to the Lenders, which disbursement shall be deemed to be an Alternate Base Rate Loan pursuant to Section 2.03 hereof, and each Borrower shall be deemed to have given to the Lenders in accordance with the terms and conditions of Section 2.03 a Loan Notice with respect thereto.
Direct Disbursement. If, at any time, Administrative Agent shall not have received on the date due, any payment of interest upon the Loans or any fee described herein, Administrative Agent may direct the disbursement of funds from the Subscription Account to Lenders to the extent available therein for payment of any such amount. Thereafter, if the amount available in the Subscription Account is not sufficient for the full payment of such amounts due, Administrative Agent may, without prior notice to or the consent of Borrower, within the limits of the Available Commitment, disburse to Lenders in immediately available funds an amount equal to the interest or fee due to Lenders, which disbursement shall be deemed to be a Reference Rate Loan pursuant to SECTION 2.3 hereof, and Borrower shall be deemed to have given to Lenders in accordance with the terms and conditions of SECTION 2.3 a Request for Borrowing with respect thereto. After any disbursement of funds from the Subscription Account to Lenders as contemplated in this SECTION 3.3(c), Administrative Agent shall promptly deliver written notice of such disbursement to Borrower, provided, however, that the failure of Administrative Agent to give such notice will not affect the validity of such disbursement, and Administrative Agent shall provide Lenders with notice thereof.
Direct Disbursement. Status as Advance. An Advance in the amount of $_____________________ (the "Direct Disbursement") has been requested to finance the acquisition of the Acquired Assets. The Direct Disbursement shall be made directly to, or as directed by, the Subsidiary, and shall be used by the Subsidiary to finance the acquisition of the Acquired Assets. The Borrower acknowledges and agrees that the Direct Disbursement is and shall constitute an Advance for all purposes under the Credit Agreement.
Direct Disbursement. If, at any time, Administrative Agent or Letter of Credit Issuer shall not have received on the date due, any payment of interest upon the Loans or any fee described herein, Administrative Agent may direct the disbursement of funds from the Collateral Account to Lenders or Letter of Credit Issuer, in accordance with the terms hereof, to the extent available therein for payment of any such amount. If, at any such time, the amount available in the Collateral Account is not sufficient for the full payment of such amounts due, Administrative Agent may, without prior notice to or the consent of any Borrower Party, within the limits of the Available Loan Amount, disburse to Lenders, in accordance with the terms hereof, in immediately available funds an amount equal to the interest or fee due to Lenders, which disbursement shall be deemed to be a Loan pursuant to Section 2.3 hereof, and Borrower shall be deemed to have given to Lenders in accordance with the terms and conditions of Section 2.3 a Loan Notice with respect thereto.
Direct Disbursement. If, after a Cash Control Event, Administrative Agent shall not have received on the date due, any payment of interest upon the Loans or any fee described herein, Administrative Agent may submit a notice of exclusive control to the Account Bank and thereafter direct the disbursement of funds from the Collateral Account to Lenders, in accordance with the terms hereof, to the extent available therein for payment of any such amount.
Direct Disbursement. If, at any time, Administrative Agent shall not have received on the date due, any payment of interest upon the Loans or any fee described herein, Administrative Agent may direct the disbursement of funds from any deposit account of any Borrower maintained at CIBC US to Lenders, in accordance with the terms hereof, to the extent available therein for payment of any such amount.
Direct Disbursement. If, at any time, Agent does not receive on the date due, any payment of interest upon the Loans or any fee described herein, Agent may disburse funds from the Funding Account to Lenders to the extent available therein for payment of any such amount and thereafter may disburse to Lenders, without notice to or consent of Borrower, in immediately available funds an amount equal to the interest or fee due to Lenders, which disbursement shall be deemed to be a Floating Base Loan pursuant to SECTION 2 hereof, and Borrower shall be deemed to have given to Lenders, in accordance with the terms and conditions of SECTION 2.2(a), a Request for Borrowing with respect thereto.
Direct Disbursement. In direct disbursement, Party A disburses the loan funds to Party B’s account based on Party B’s application for withdrawal, after which Party B independently pays its transaction counter-parties in accordance with the agreed purposes of the Agreement.
