Disbursement of the Loans Sample Clauses
Disbursement of the Loans. The Bank shall credit Advances under the Line of Credit to the deposit accounts of the Borrower with the Bank for the benefit of Holdings or as otherwise directed in writing by Holdings, including payments to third parties through electronic funds transfers.
Disbursement of the Loans. (A) Bank will credit or pay the proceeds of each Revolver Loan Advance to Parent’s deposit account with Bank, or in such other manner as Parent and Bank may agree.
(B) Except as otherwise provided in a Cash Management Agreement or otherwise agreed in writing between any Borrower and Bank, in order to obtain a Revolver Loan Advance, a Parent’s Representative shall notify Bank not later than 1:00 p.m. (Atlanta, Georgia time) on the Business Day before such Revolver Loan Advance is sought, specifying the date on which such Revolver Loan Advance is sought and the requested amount of the Revolver Loan Advance. Upon Bank’s receipt of such notice and upon satisfaction of the terms and conditions of this Agreement, Bank will make such funds available to Parent as provided for above, by 10:00 a.m. (Atlanta, Georgia time) on the date for which the Revolver Loan Advance is requested. Notwithstanding anything contained herein to the contrary, no Borrower shall be entitled to receive nor shall Bank be required to disburse any Revolver Loan Advance after the Advancement Termination Date.
Disbursement of the Loans. The Lender will credit the proceeds of the Loans hereunder to the Borrower's deposit account with the Lender or in accordance with the Borrower's acceptable instructions from time to time.
Disbursement of the Loans. On the next Business Day after Borrowers’ application pursuant to Section 2.1 above, Lender will credit the proceeds of the Loans to or for the benefit of Borrowers via wire transfer or ACH to Borrowers’ operating account as Borrowers shall designate by written notice to Lender, except for the payment of amounts due to or for the benefit of Lender hereunder, which shall be made directly to Lender.
Disbursement of the Loans. The Bank shall credit the proceeds of the Loan to the deposit accounts of the Borrower with the Bank for the benefit of the Borrower or as otherwise directed in writing by the Borrower, including payments to third parties through electronic funds <PAGE> 18
Disbursement of the Loans. The Borrower shall deliver to the Agent a fully executed Disbursement Request prior to or on the Disbursement Date. Promptly upon receipt by the Agent of such Disbursement Request, the Agent shall notify each Lender with an Initial Convertible Loan Commitment of the proposed borrowing. On the terms and subject to the conditions set forth herein, each Lender agrees, severally but not jointly, to lend to the Borrower, on the Closing Date, the principal amount of the senior convertible term loans set forth opposite such Lender’s name in Annex A under the heading “Convertible Loan Amount” (the “Convertible Loans”) by making such amounts available to the Agent not later than 12:00 p.m. (New York City time) on the Disbursement Date, by wire transfer of same day funds in Dollars, to an account designated by the Agent from time to time. Upon receipt of requested funds, the Agent shall make the proceeds of the Disbursement available to the Borrower by promptly wiring such amounts to an account or accounts designated in writing by the Borrower in the Disbursement Request. The Agent, unless it has received written notice from the Borrower by not later than 5:00 p.m. (New York City time) on the Disbursement Date that the Loans were not fully funded, shall deem the Convertible Loans to be fully funded and make the appropriate recordations in the Register. Amounts borrowed hereunder that are paid, repaid, redeemed and/or prepaid may not be re-borrowed under any circumstance.
Disbursement of the Loans. Lender will deliver the proceeds of the Loans from time to time to Borrower's deposit account with such financial institution as directed by Borrower as soon as reasonably practicable after receipt by Lender of a "Loan Request Certificate" (in the form attached hereto as Exhibit 2) in which Borrower requests disbursement of proceeds of the Loans ("Loan Request Certificate"), provided, however, the first disbursement of any Loan proceeds hereunder shall not occur until, and Lender shall not have been deemed to have made available the Commitment Amount to Borrower until, satisfaction of all conditions precedent set forth under Section 3 hereof, and further, provided, however, there is sufficient availability under the Available Commitment. Initially, Borrower may borrow no more than the difference between the purchase price paid by Lender for the Series B Preferred Stock pursuant to the purchase agreement dated as of April __, 2007 and the amounts necessary for payments due under the agreements between the Borrower and each of Colette Xxxxxx xxx Xxuart Xxxxxxxxx, xxxxx April , 2007 (Exhibit 6). All additional amounts of the Commitment Amount and loan requests made by Borrower from time to time and subject to Lender's approval, in its discretion, will be disbursed in accordance with an agreed budget, as set forth in Exhibit 7. Lender reserves the right in its sole discretion to deny loan requests in the event that Borrower has a material adverse change from its business plan (Exhibit 8), notwithstanding that the Commitment Amount has not been fully drawn.
Disbursement of the Loans. The Bank will disburse the proceeds of the Notes to the Borrower’s deposit account with the Bank or as otherwise directed by the Borrower.
Disbursement of the Loans. (A) The Borrower shall give the Agent irrevocable notice (a "Borrowing Notice") not later than 10:00 a.m. Nashville time on the day of disbursement of Loans (other than Eurodollar Loans), or 1:00 p.m. Nashville time three (3) Business Days prior to any requested disbursement of a Eurodollar Loan. Each Borrowing Notice shall be written and may be made by telecopier, telex or cable in addition to the means set forth for giving notice in Section 8.5. Each Borrowing Notice shall specify the requested date of such requested disbursement, the aggregate amount of such disbursement, the type of Loan (Floating Rate Loan or Eurodollar Loan), and if a Eurodollar Loan, the designated Eurodollar Interest Period. Agent shall promptly provide each Bank with copies of each Borrowing Notice. Not later than noon Nashville time on each disbursement date, and subject