Common use of Disbursement of Advance Proceeds Clause in Contracts

Disbursement of Advance Proceeds. All Loan Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or the Lenders, shall be charged to Borrowers' Account on Agent's books as a Revolving Advance or a Term Loan Advance, as applicable. Until the Revolving Maturity Date, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Loan Advance requested by Borrowers or deemed to have been requested by Borrowers under Section 2.2(a) hereof shall, with respect to requested Loan Advances to the extent the Lenders make such Loan Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account at Bank One or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)

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Disbursement of Advance Proceeds. All Loan Advances shall be disbursed from -------------------------------- whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or the Lenders, shall be charged to Borrowers' Account Borrower's account on Agent's books as a Revolving Advance or a Term Loan Advancebooks. During the Term, as applicable. Until the Revolving Maturity Date, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereofof this Agreement. The proceeds of each Loan Revolving Advance requested by Borrowers Borrower or deemed to have been requested by Borrowers Borrower under Section 2.2(a) hereof shall, with respect to requested Loan Revolving Advances to the extent the Lenders make such Loan Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account at Bank One of America, account number 3750866889, entitled "Master Account for Delta Xxxxx, Inc.", or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Delta Woodside Industries Inc /Sc/), Revolving Credit and Security Agreement (Delta Mills Inc)

Disbursement of Advance Proceeds. All Loan Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or the Lenders, shall be charged to Borrowers' Account on Agent's books as a Revolving Advance or a Term Loan Advance, as applicable’s books. Until During the Revolving Maturity DateTerm, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Loan Revolving Advance requested by Borrowers Borrowing Agent on behalf of any Borrower or deemed to have been requested by Borrowers any Borrower under Section 2.2(a) hereof shall, with respect to requested Loan Revolving Advances to the extent the Lenders make such Loan Revolving Advances, be made available to the applicable Borrower on the day so requested by 2:00 p.m. by way of credit to such Borrower's ’s operating account at Bank One PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Valuevision Media Inc)

Disbursement of Advance Proceeds. All Loan Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or the Lenders, shall be charged to Borrowers' Account on Agent's books as a Revolving Advance or a Term Loan Advance, as applicablebooks. Until During the Revolving Maturity DateTerm, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowingre‑borrowing, all in accordance with the terms and conditions hereofhereof and the Financing Order. The proceeds of each Loan Revolving Advance requested by Borrowers or Borrowing Agent on behalf of any Borrower or, in the case of a Revolving Advance, deemed to have been requested by Borrowers any Borrower under Section 2.2(a) 2.2 hereof shall, with respect to requested Loan Revolving Advances to the extent the Lenders make such Loan Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account ending in xxx5600 maintained at Bank One of America, N.A., or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Debt Agreement (Castle a M & Co)

Disbursement of Advance Proceeds. All Loan Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or the Lenders, shall be charged to Borrowers' Account on Agent's books as a Revolving Advance or a Term Loan Advance, as applicablebooks. Until During the Revolving Maturity DateTerm, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Loan Revolving Advance requested by Borrowers Borrowing Agent on behalf of any Borrower or deemed to have been requested by Borrowers any Borrower under Section 2.2(a) hereof shall, with respect to requested Loan Revolving Advances to the extent the Lenders make such Loan Revolving Advances, be made available to such Borrower by the applicable Borrower close of business on the day so requested by Borrowing Agent by way of credit to such Borrower's operating account at Bank One maintained with Agent or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Financing Agreement (Cpac Inc)

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Disbursement of Advance Proceeds. All Loan Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or the Lenders, shall be charged to Borrowers' Account Borrower's account on Agent's books as a Revolving Advance or a Term Loan Advancebooks. During the Term, as applicable. Until the Revolving Maturity Date, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereofof this Agreement. The proceeds of each Loan Revolving Advance requested by Borrowers Borrower or deemed to have been requested by Borrowers Borrower under Section 2.2(a) 2.2 hereof shall, with respect to requested Loan Revolving Advances to the extent the Lenders make such Loan Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account at Bank One Wachovia Bank, account number 2079900431737, entitled ["Master Account for Delta Xxxxx, Inc."], or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Delta Mills Inc)

Disbursement of Advance Proceeds. All Loan Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or the Lenders, shall be charged to Borrowers' Borrower’s Account on Agent's books as a Revolving Advance or a Term Loan Advance’s books. During the Term, as applicable. Until the Revolving Maturity Date, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Loan Advance requested by Borrowers Borrower or deemed to have been requested by Borrowers the Borrower under Section 2.2(a) 2.2 hereof shall, with respect to requested Loan Advances to the extent the Lenders make such Loan Advances, be made available to the applicable Borrower on the day so requested in the case of Domestic Rate Loans and three (3) Business Days thereafter in the case of CDOR Rate Loans or Eurodollar Rate Loans, by way of credit to such the Borrower's ’s operating account at The Bank One of Nova Scotia, or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Advances deemed to have been requested by any the Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp)

Disbursement of Advance Proceeds. All Loan Advances shall be disbursed -------------------------------- from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Agent or the Lenders, shall be charged to Borrowers' Borrower's Account on Agent's books as a Revolving Advance or a Term Loan Advancebooks. During the Term, as applicable. Until the Revolving Maturity Date, Borrowers Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Loan Revolving Advance requested by Borrowers Borrower or deemed to have been requested by Borrowers Borrower under Section 2.2(a) hereof shall, with respect to requested Loan Revolving Advances to the extent the Lenders make such Loan Revolving Advances, be made available to the applicable Borrower by [3:00 p.m. (Eastern Time)] on the day so requested by way of credit to such Borrower's operating account at Bank One Agent, or such other bank as Borrowing Agent Borrower may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Loan Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Credit and Security Agreement (Pc Connection Inc)

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