Common use of Disbursement of Advance Proceeds Clause in Contracts

Disbursement of Advance Proceeds. All 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 Borrower to Agent or Lenders, shall be charged to Borrower’s Account on Agent’s books. During the Term, Borrower may use the Advances by borrowing and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Advance requested by Borrower under Section 2.2(a) hereof shall, with respect to requested Advances to the extent Lenders make such Advances, be made available to Borrower on the applicable Borrowing Date by way of credit to Borrower’s operating account at Signature, or such other bank as Borrower may designate following notification to Agent, in immediately available Federal funds or other immediately available funds or be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Crystal River Capital, Inc.)

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Disbursement of Advance Proceeds. All Advances shall be disbursed from whichever office or other place the Agent may designate from time to time and, together with any and all other Obligations of Borrower to the Agent or Lenders, shall be charged to Borrower’s 's Account on the Agent’s 's books. Each Credit Party authorizes Borrower to receive all such Advances on behalf of such Credit Party. During the Term, Borrower may use the Revolving Advances by borrowing borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrower or deemed to have been requested by Borrower under Section 2.2(a2.3(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to Borrower on the applicable Borrowing Date day so requested by way of credit to Borrower’s 's operating account at SignaturePNC, or such other bank as Borrower may designate following notification to the Agent, in immediately available Federal federal funds or other immediately available funds or or, with respect to Revolving Advances deemed to have been requested by Borrower, be disbursed to the Agent to be applied to the outstanding Obligations giving rise to such deemed request.

Appears in 1 contract

Samples: Credit, Guaranty and Security Agreement (Evergreen International Aviation Inc)

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

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Radnor Holdings Corp)

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

Appears in 1 contract

Samples: Supplement Revolving Multicurrency Credit Agreement (Styrochem U S Inc)

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Disbursement of Advance Proceeds. All 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 Borrower to Agent or Lenders, shall be charged to Borrower’s Account on Agent’s bookstime. During the Term, Borrower may use the Revolving Advances by borrowing borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrower or deemed to have been requested by Borrower under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to Borrower on the applicable Borrowing Date day so requested by way of credit to Borrower’s 's operating account at SignaturePNC, or such other bank as Borrower may designate following notification to Agent, in immediately available Federal funds or other Dollars and in immediately available funds or or, with respect to Revolving Advances deemed to have been requested by 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 (Swank Inc)

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

Appears in 1 contract

Samples: Loan Agreement (Smartserv Online Inc)

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