Disbursement Direction Sample Clauses
The Disbursement Direction clause specifies how and to whom funds should be distributed under an agreement. It typically outlines the authorized recipients, the method of payment, and any conditions that must be met before disbursement occurs, such as the completion of certain deliverables or receipt of required documentation. This clause ensures that payments are made correctly and efficiently, reducing the risk of disputes or misdirected funds.
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Disbursement Direction. Borrower hereby authorizes Agent to disburse the Net Proceeds to Vornado instead of to Borrower at anytime that Vornado is performing under its Guaranty of Completion or as otherwise required pursuant to such Guaranty of Completion.
Disbursement Direction. With respect to the Term Loans, Borrower shall have provided to the Agent, a letter of direction as to the payment of the proceeds of the Term Loans.
Disbursement Direction. 120 VI. net cash flow FUNDS