Common use of Disbursement Authorization Clause in Contracts

Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrower, or deemed to be requested pursuant to Section 3.1.1 or Section 3.1.3(ii), as follows: (i) the proceeds of each Revolver Loan requested under Section 3.1.1(i) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Loan requested under Section 3.1.1(ii) or Section 3.1.3(ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.

Appears in 2 contracts

Samples: Loan and Security Agreement (Dixie Group Inc), Loan and Security Agreement (Dixie Group Inc)

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Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrowerrequested, or deemed to be requested pursuant to Section SECTION 3.1.1 or Section SECTION 3.1.3(ii), as follows: (i) the proceeds of each Revolver Loan requested under Section 3.1.1(iSECTION (i) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Loan requested under Section SECTION 3.1.1(ii) or Section SECTION 3.1.3(ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.

Appears in 1 contract

Samples: Loan and Security Agreement (Toms Foods Inc)

Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Revolving Loan requested by Borrowerrequested, or deemed to be requested pursuant to Section 3.1.1 SECTION 5.1.1 or Section 3.1.3(iiSECTION 5.1.3(II), as follows: (i) the proceeds of each Revolver Revolving Loan requested under Section 3.1.1(iSECTION 5.1.1(I) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Revolving Loan requested under Section 3.1.1(iiSECTION 5.1.1(II) or Section 3.1.3(iiSECTION 5.1.3(II) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.

Appears in 1 contract

Samples: Financing Agreement (Emerge Interactive Inc)

Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrower, or deemed to be requested pursuant to Section 3.1.1 or Section 3.1.3(ii)SECTION 3.1.1, as follows: (i) the proceeds of each Revolver Loan requested under Section 3.1.1(iSECTION 3.1.1(I) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to the Funding Account or such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrowerin writing; and (ii) the proceeds of each Revolver Loan requested under Section 3.1.1(ii) or Section 3.1.3(ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.SECTION 3.1.1

Appears in 1 contract

Samples: Post Petition Loan and Security Agreement (Drypers Corp)

Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrower, or deemed to be requested pursuant to Section SECTION 3.1.1 or Section SECTION 3.1.3(ii), as follows: (i) the proceeds of each Revolver Loan requested under Section 3.1.1(iSECTION (i) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Loan requested under Section SECTION 3.1.1(ii) or Section SECTION 3.1.3(ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.

Appears in 1 contract

Samples: Loan and Security Agreement (Dixie Group Inc)

Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrowerrequested, or deemed to be requested pursuant to Section 3.1.1 or Section 3.1.3(ii), as follows: (i) the proceeds of each Revolver Loan requested under Section 3.1.1(i3.1.1 (i) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Loan requested under Section 3.1.1(ii) or Section 3.1.3(ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.

Appears in 1 contract

Samples: Loan and Security Agreement (Pameco Corp)

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Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrowerand Swingline Loan requested, or deemed to be requested pursuant to Section 3.1.1 or Section 3.1.3(ii)3.1.1, as follows: (i) the proceeds of each Revolver Loan and Swingline Loan requested under Section 3.1.1(i3.1.1 (i) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Loan and Swingline Loan requested under Section 3.1.1(ii) or Section 3.1.3(ii3.1.1 (ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.. "

Appears in 1 contract

Samples: Loan and Security Agreement (Dan River Inc /Ga/)

Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrowerrequested, or deemed to be requested pursuant to this Section 3.1.1 or Section 3.1.3(ii)4.1.1, as follows: (i) the proceeds of each Revolver Loan requested under Section 3.1.1(i4.1.1(i) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, and in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Loan requested under Section 3.1.1(ii) or Section 3.1.3(ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.4.1.1

Appears in 1 contract

Samples: Loan and Security Agreement (Rhodes Inc)

Disbursement Authorization. Borrower hereby irrevocably authorizes Agent to disburse the proceeds of each Revolver Loan requested by Borrowerrequested, or deemed to be requested pursuant to Section SECTION 3.1.1 or Section 3.1.3(iiSECTION 3.1.3(II), as follows: (i) the proceeds of each Revolver Loan requested under Section 3.1.1(iSECTION 3.1.1(I) shall be disbursed by Agent in accordance with the terms of the written disbursement letter from Borrower in the case of the initial Borrowing, and, in the case of each subsequent Borrowing, by wire transfer to such bank account as may be agreed upon by Borrower and Agent from time to time or elsewhere if pursuant to a written direction from Borrower; and (ii) the proceeds of each Revolver Loan requested under Section 3.1.1(iiSECTION 3.1.1(II) or Section 3.1.3(ii) shall be disbursed by Agent by way of direct payment of the relevant interest or other Obligation.SECTION 3.1.3

Appears in 1 contract

Samples: Loan and Security Agreement (Amerigroup Corp)

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