Common use of Disbursement of Advance Proceeds Clause in Contracts

Disbursement of Advance Proceeds. All Advances shall be disbursed from the Payment Office or any other office or other place the Lender may designate from time to time and, together with any and all other Obligations of the Borrower which are due to the Lender, shall be charged to the Borrower's account on the Lender's books. During the Term, the Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by the Borrower or deemed to have been requested by the Borrower under Section 2.3 hereof shall, with respect to requested Revolving Advances to the extent the Lender makes such Revolving Advances, be made available to the Borrower on the day so requested by way of credit to the Borrower's operating account at such bank as the Borrower may designate following notification to the Lender, in immediately available federal or other immediately available funds or, with respect to Revolving Advances deemed to have been requested, be disbursed to the Lender in payment of outstanding Obligations.

Appears in 1 contract

Samples: Tristar Corp

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Disbursement of Advance Proceeds. All Advances shall be disbursed from the Payment Office or any other whichever office or other place the Lender may designate from time to time and, together with any and all other Obligations of the Borrower which are due to the Lender, shall be charged to the Borrower's account on the Lender's books. During the Term, the except as otherwise provided in Section 4.21 hereof, Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by the Borrower or deemed to have been requested by the Borrower under Section 2.3 2.2 hereof shall, with respect to requested Revolving Advances to the extent the Lender makes such Revolving Advances, be made available to the Borrower on the day so requested by way of credit to the Borrower's operating account at Lender, or such other bank as the Borrower may designate following notification to the Lender, in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requested, be disbursed to Lender to be applied to the Lender in payment of outstanding ObligationsObligations giving rise to such deemed request.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

Disbursement of Advance Proceeds. All Advances shall be disbursed from the Payment Office or any other whichever office or other place the Lender may designate from time to time and, together with any and all other Obligations of the Borrower which are due to the Lender, shall be charged to any account of the Borrower's account Borrower on the Lender's books. During the Term, the Borrower may use the Revolving Advances by borrowing, prepaying repaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by the Borrower or deemed to have been requested by the Borrower under Section 2.3 2.4(c) hereof shall, with respect to requested Revolving Advances to the extent the Lender makes such Revolving Advances, subject to Section 2.3 hereof, be made available to the Borrower on the day so requested by way of credit to the Borrower's Industries' operating account at such bank as the Borrower Industries may designate following notification to the Lender, in immediately available federal or other immediately available funds or, with respect to Revolving Advances deemed to have been requested, be disbursed to the Lender in payment of outstanding Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Disbursement of Advance Proceeds. All Advances shall be disbursed from the Payment Office or any other whichever office or other place the Lender may designate from time to time and, together with any and all other Obligations of the Borrower which are due Borrowers to the Lender, shall be charged to the Borrower's Borrowers' account on the Lender's books. During the Term, the Borrower Borrowers 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 Revolving Advance requested by the Borrower Borrowers or deemed to have been requested by the Borrower Borrowers under Section 2.3 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent the Lender makes such Revolving Advances, be made available to the Borrower Borrowers on the day so requested by way of credit to the Borrower's Borrowers' operating account at The Bank of New York, or such other bank as the Borrower Borrowing Agent may designate following notification to the Lender, Lender in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requestedrequested by Borrowers, be disbursed to Lender to be applied to the Lender in payment of outstanding ObligationsObligations giving rise to such deemed request.

Appears in 1 contract

Samples: Security Agreement (E Com Ventures Inc)

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Disbursement of Advance Proceeds. All Advances shall be disbursed from the Payment Office or any other whichever office or other place the Lender may designate from time to time and, together with any and all other Obligations of the Borrower which are due Borrowers to the Lender, shall be charged to any account of the Borrower's account Borrowers on the Lender's books. During the Term, the Borrower Borrowers may use the Revolving Advances by borrowing, prepaying repaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by the Borrower Borrowers or deemed to have been requested by the Borrower Borrowers under Section 2.3 2.4(c) hereof shall, with respect to requested Revolving Advances to the extent the Lender makes such Revolving Advances, subject to Section 2.3 hereof, be made available to the Borrower Borrowers on the day so requested by way of credit to the Borrower's Industries' operating account at such bank as the Borrower Industries may designate following notification to the Lender, in immediately available federal or other immediately available funds or, with respect to Revolving Advances deemed to have been requested, be disbursed to the Lender in payment of outstanding Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Disbursement of Advance Proceeds. All Advances shall be disbursed from the Payment Office or any other whichever office or other place the Lender Agent may designate from time to time and, together with any and all other Obligations of the Borrower which are due to the LenderAgent or Lenders, shall be charged to the Borrower's account Account on the LenderAgent's books. During the Term, the Borrower may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by the Borrower or deemed to have been requested by the Borrower under Section 2.3 2.1(d) hereof shall, with respect to requested Revolving Advances to the extent the Lender makes Lenders make such Revolving AdvancesAdvances subject to and in accordance with the provisions hereof, be made available to the Borrower on the day so requested by way of credit to the Borrower's such operating account at PNC, or such other bank as the Borrower may designate following notification to the LenderAgent, in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requestedrequested by Borrower, be disbursed to Agent to be applied to the Lender in payment of outstanding ObligationsObligations giving rise to such deemed request.

Appears in 1 contract

Samples: Credit, Term Loan and Security Agreement (Aaf McQuay Inc)

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