Common use of Disbursement Requests and Disbursements Clause in Contracts

Disbursement Requests and Disbursements. (a) The Issuers shall concurrently with the execution and delivery of this Agreement have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Initial Disbursement Certificate, requesting the disbursement of funds from the Construction Disbursement Account (the “Initial Disbursement Request”). (b) The Issuers or, as set forth in Section 5.1, the Trustee (with a copy provided to the Issuers), shall have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Interest Disbursement Certificate, requesting the disbursement of funds from the Interest Reserve Account to pay the interest due on the Notes (an “Interest Disbursement Request”) on the applicable Interest Payment Date. (c) In accordance with Section 7.2 or Section 7.3, the Issuers shall have the right from time to time during the course of this Agreement, to submit to the Disbursement Agent, with a copy to the Trustee, a Construction Disbursement Certificate (a “Construction Disbursement Request”) or an Advance Disbursement Certificate (an “Advance Disbursement Request”). (d) The Disbursement Agent shall review each Disbursement Request submitted pursuant to Sections 4.1(a) through (c) above to determine that they meet the requirements of Sections 7.1 and 7.2 of this Agreement and conform to the forms of Exhibits A, C, D-1 and D-2 respectively, but the Disbursement Agent shall have no obligation to review any attachments, exhibits and certificates required thereby (as the case may be) or to inquire whether any condition certified to has been satisfied. If the Disbursement Agent has determined that the requirements of Sections 7.1 and 7.2 of this Agreement have been met and that such Disbursement Request conforms to the forms of Exhibits A, C, D-1 and D-2, as applicable, then the Disbursement requested shall be made by the Disbursement Agent. Except as to the Initial Disbursement, which shall be made on the Issue Date, the Disbursement Agent shall notify the Issuers and the Trustee as soon as reasonably possible (and in any event within two (2) Business Days after the Disbursement Agent receives the required documents) if any Disbursement Request, or any portion thereof, is disapproved and the reason(s) therefor. (e) Provided that a Disbursement Request submitted in accordance with Sections 4.1(a) or (c) above is not disapproved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Disbursement Request, the Disbursement Agent shall disburse to the Disbursed Funds Account the funds requested in such Disbursement Request (other than those to be disbursed pursuant to the Initial Disbursement Request, which shall be disbursed on the Issue Date). The Issuers shall withdraw funds from and write checks on the Disbursed Funds Account solely for the purpose of paying Construction Expenses identified on such Disbursement Request. (f) Provided that an Interest Disbursement Request submitted in accordance with Section 4.1(b) above is not disapproved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Interest Disbursement Request, the Disbursement Agent shall disburse to the Trustee the funds requested in such Interest Disbursement Request. (g) The Trustee may waive any condition to a disbursement requested in a Disbursement Request.

Appears in 2 contracts

Samples: Cash Collateral and Disbursement Agreement (Peninsula Gaming, LLC), Cash Collateral and Disbursement Agreement (Peninsula Gaming, LLC)

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Disbursement Requests and Disbursements. (a) The Issuers shall concurrently with the execution and delivery of this Agreement have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Initial Disbursement Certificate, requesting the disbursement of funds from the Construction Renovation Disbursement Account in an aggregate amount not to exceed $100,000 for the Initial Disbursements (the “Initial Disbursement Request”). (b) The Issuers or, as set forth in Section 5.1, the Trustee (with a copy provided to the Issuers), shall have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Interest Disbursement Certificate, requesting the disbursement of funds from the Interest Reserve Account to pay the interest due on the Notes (an “Interest Disbursement Request”) on the applicable Interest Payment Date. (c) In accordance with Section 7.2 or Section 7.37.3 hereof, the Issuers shall have the right from time to time during the course of this AgreementAgreement (but no more frequently than twice per calendar month (other than disbursements related to the Initial Disbursements Certificate), to submit to the Disbursement Agent, with a copy to the Trustee, a Construction Renovation Disbursement Certificate (a “Construction Renovation Disbursement Request”) or an Advance Disbursement Certificate (an “Advance Advanced Disbursement Request”). (d) In accordance with Section 7.2 and Section 7.4 hereof, upon the occurrence of the Operator Licensing Event, the Issuers shall have the right to submit to the Disbursement Agent, with a copy to the Trustee, an Operator Licensing Event Disbursement Certificate, requesting the disbursement of funds from the Renovation Disbursement Account in an aggregate amount not to exceed $4,300,000 for cage and other working capital cash required upon the Company receiving its Gaming License (a “Operator Licensing Event Disbursement Request”). (e) The Disbursement Agent shall review each Disbursement Request submitted pursuant to Sections 4.1(a) through (cd) above to determine that they meet the requirements of Sections 7.1 and 7.2 of this Agreement and conform to the forms of Exhibits AExxxxxxx X, CX, D-1 X-0, X-0 and D-2 D-3 respectively, but the Disbursement Agent shall have no obligation to review any including all attachments, exhibits and certificates required thereby (as the case may be) or to inquire whether any condition certified to has have been satisfied. If , and provided, that a Responsible Officer (as defined in the Indenture, except substituting “Trustee” for “Disbursement Agent”) of the Disbursement Agent (i) has determined that the requirements of Sections 7.1 and 7.2 of this Agreement have been met and that such Disbursement Request conforms to the forms of Exhibits AExxxxxxx X, CX, D-1 X-0, X-0 and D-2D-3, as applicable, including all attachments, exhibits and certificates required thereby (as the case may be), and (ii) has no actual knowledge of any material error, inaccuracy, misstatement or omission of fact in such Disbursement Request or an attachment, exhibit or certificate attached thereto or information provided by the Issuers upon the request of the Disbursement Agent, then the Disbursement requested Agent shall be made by approve the Disbursement Agentrequest. Except as to the Initial Disbursement, which shall be made on the Issue Date, the Disbursement Agent shall notify the Issuers and the Trustee as soon as reasonably possible (and in any event within two (2) Business Days after the Disbursement Agent receives the required documents) if any Disbursement Request, or any portion thereof, is disapproved and the reason(s) therefor. (ef) Provided that a Disbursement Request submitted in accordance with to Sections 4.1(a) or through (cd) above is not disapproved approved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Disbursement Request, the Disbursement Agent shall disburse to the Disbursed Funds Account the funds requested in such Disbursement Request (other than those to be disbursed pursuant to (i) the Initial Disbursement Request, which shall be disbursed on the Issue Date, or (ii) an Interest Disbursement Request, which shall be disbursed on the applicable Interest Payment Date), or such portion thereof as is approved by the Disbursement Agent. The Issuers shall withdraw funds from and write checks on the Disbursed Funds Account solely for the purpose of paying Construction Renovation Expenses identified on such Disbursement Request. (f) Provided that an Interest Disbursement Request submitted in accordance with Section 4.1(b) above is not disapproved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Interest Disbursement Request, the Disbursement Agent shall disburse to the Trustee the funds requested in such Interest Disbursement Request. (g) The Trustee may waive any condition to a disbursement requested in a Disbursement Request.

Appears in 1 contract

Samples: Cash Collateral and Disbursement Agreement (155 East Tropicana, LLC)

Disbursement Requests and Disbursements. (a) 4.1 The Issuers shall concurrently with the execution and delivery of this Agreement have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Initial Disbursement Certificate, requesting the disbursement of funds from the Construction Disbursement Account (the “Initial Disbursement Request”). (b) The Issuers or, as set forth in Section 5.1, the Trustee (with a copy provided to the Issuers), shall have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Interest Disbursement Certificate, requesting the disbursement of funds from the Interest Reserve Account to pay the interest due on the Notes (an “Interest Disbursement Request”) on the applicable Interest Payment Date. (c) In accordance with Section 7.2 or Section 7.3, the Issuers Issuer shall have the right from time to time during the course of this Agreement, Agreement (but no more frequently than once per calendar month) to submit to the Disbursement Agent, with a copy to the Trustee, a Construction Facilities Disbursement Certificate (a “Construction Disbursement Request”) Request or an Advance Disbursement Certificate (an “Advance Disbursement Request”). (d) . The Disbursement Agent shall review disburse funds from the Disbursement Account only upon (i) in the case of a Facilities Disbursement, receipt of a fully complete and executed Facilities Disbursement Request, substantially in the form attached hereto as Exhibit B-1 together with all schedules and/or exhibits thereto, and confirmation that the amount of the Facilities Disbursement Request is consistent with the total amount of the Supporting Documentation, and (ii) in the case of an Advance Disbursement, receipt of a fully complete and executed Advance Disbursement Request, substantially in the form attached hereto as Exhibit B-2 together with all schedules and/or exhibits thereto. 4.2 Upon receipt of each Disbursement Request submitted pursuant to Sections 4.1(a) through (c) above to determine that they meet the requirements of Sections 7.1 and 7.2 of this Agreement and conform to the forms of Exhibits A, C, D-1 and D-2 respectively, but the Disbursement Agent shall have no obligation to review any attachments, exhibits and certificates required thereby (as the case may be) or to inquire whether any condition certified to has been satisfied. If the Disbursement Agent has determined that the requirements of Sections 7.1 and 7.2 of this Agreement have been met and that such Disbursement Request conforms to the forms of Exhibits A, C, D-1 and D-2, as applicable, then the Disbursement requested shall be made by the Disbursement Agent. Except as to the Initial Disbursement, which shall be made on the Issue DateSection 4.1, the Disbursement Agent shall determine whether such Disbursement Request meets the requirements set forth in Sections 4.1 and 4.5. The Disbursement Agent shall notify the Issuers Issuer and the Trustee as soon as reasonably possible practicable (and in any event within one (1) Business Day after the Disbursement Agent receives the required documents, if received before 12:00 p.m. (Minneapolis time) on such day, and otherwise, within two (2) Business Days after the Disbursement Agent receives the required documentssuch receipt) if any Disbursement Request, or any portion thereof, is disapproved and the reason(s) therefor. 4.3 (ea) Provided that a Disbursement Request submitted in accordance with Sections 4.1(ais received by the Disbursement Agent by 12:00 p.m. (Minneapolis time) or (c) above and is not disapproved approved by the Disbursement Agent in accordance with this Agreement, then, within two one (21) Business Days Day following submission receipt of such Disbursement Request, the Disbursement Agent shall disburse to the Disbursed Funds Account the funds requested in such Disbursement Request (other than those to be disbursed pursuant to the Initial Disbursement Request, which shall be disbursed on or such portion thereof as is approved by the Issue Date). The Issuers shall withdraw funds from and write checks on the Disbursed Funds Account solely for the purpose of paying Construction Expenses identified on such Disbursement Request. (f) Provided that an Interest Disbursement Request submitted Agent, in either case subject to adjustment in accordance with Section 4.1(b) above is not disapproved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Interest Disbursement Request, the Disbursement Agent shall disburse to the Trustee the funds requested in such Interest Disbursement Request4.4 below. (g) The Trustee may waive any condition to a disbursement requested in a Disbursement Request.

Appears in 1 contract

Samples: Disbursement Agreement (Idleaire Technologies Corp)

Disbursement Requests and Disbursements. (a) The Issuers Company shall concurrently with the execution and delivery of this Agreement have the right to submit to the Disbursement Agent, with a copy to the TrusteeIndependent Construction Contractor, the Initial Disbursement Certificate, requesting a request for the disbursement of funds from the Construction Disbursement Account (to pay certain Issuance Fees and Expenses in the “Initial Disbursement Request”form of EXHIBIT A(the "INITIAL DISBURSEMENTS CERTIFICATE"), together with the Borrowers Closing Certification executed by the Company in the form of EXHIBIT B,and all exhibits attached thereto. (b) The Issuers Company or, as set forth in Section 5.1, the Trustee (with a copy provided to the Issuers)ARTICLE 5,the Trustee, shall have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Interest Disbursement Certificate, requesting a request for the disbursement of funds from the Interest Reserve Account to pay the interest due on the Notes Notes, in the form of EXHIBIT C attached hereto (an “Interest Disbursement Request”) on the applicable Interest Payment Date"INTEREST DISBURSEMENT REQUEST"). (c) In accordance The Company shall have the right from and after the commencement of gaming operations at the Bossier City Project to submit to the Disbursement Agent from time to time (but no more often than semi-monthly, unless otherwise permitted by the Disbursement Agent), with Section 7.2 or Section 7.3a copy to Trustee, a request for the Issuers disbursement of funds from the Operating Reserve Account to pay certain operating expenses related to the operation of the Bossier City Project, each in the form of EXHIBIT Dattached hereto (an "OPERATING DISBURSEMENT REQUEST"), together with the exhibits attached thereto. (d) The Company shall have the right from time to time during the course of this AgreementAgreement (but no more often than semi-monthly, unless otherwise permitted by the Disbursement Agent), to submit to the Disbursement Agent, with a copy to Trustee and the TrusteeIndependent Construction Consultant, a request for the disbursement of funds from the Completion Reserve Account to the Construction Disbursement Certificate Account, each in the form of EXHIBIT E attached hereto (a “Construction Disbursement Request”) or an Advance Disbursement Certificate (an “Advance Disbursement Request”"COMPLETION RESERVE DISBURSEMENT REQUEST"), together with the exhibits attached thereto. (de) The Company shall have the right from time to time during the course of this Agreement (but no more often than semi-monthly (other than disbursements related to the Initial Disbursement Certificate), unless otherwise permitted by the Disbursement Agent), to submit to the Disbursement Agent, with a copy to Trustee and the Independent Construction Consultant, a request for the disbursement of funds from the Construction Disbursement Account to the Disbursed Funds Account in the form of EXHIBIT F attached hereto (a "CONSTRUCTION DISBURSEMENT REQUEST"), together with the exhibits attached thereto. (f) Provided that the Company has provided the Disbursement Agent with a letter from its counsel specifying that the voters in both Bossier Parish and Caddo Parish have approved the continuation of riverboat gaming pursuant to the Louisiana Referendum, the Company shall have the right from time to time during the course of this Agreement (but no more often than semi-monthly, unless otherwise permitted by the Disbursement Agent) to submit to the Disbursement Agent with a copy to the Trustee a request for the disbursement of funds from the Escrow Account, each in the form of EXHIBIT G attached hereto (the "ESCROW DISBURSEMENT REQUEST") together with the exhibits attached thereto. (g) The Disbursement Agent shall review each Disbursement Request submitted pursuant to Sections 4.1(aSECTIONS 4.1(A) through (c4.1(F) above to determine that they meet conform in form to the requirements of Sections 7.1 Exhibits A through F and 7.2 of this Agreement Exhibit 1, respectively and conform that, to the forms best of Exhibits ADisbursement Agent's actual knowledge, C, D-1 and D-2 respectively, but all other the conditions applicable to such Disbursement Agent shall Request have no obligation to review any attachments, exhibits and certificates required thereby (as the case may be) or to inquire whether any condition certified to has been satisfied. If the Disbursement Agent has determined that the requirements of Sections 7.1 and 7.2 of this Agreement have been met and that such Disbursement Request conforms to the forms of Exhibits A, C, D-1 and D-2, as applicable, then the Disbursement requested shall be made by the Disbursement Agent. Except as to the Initial Disbursement, which shall be made on the Issue Date, the The Disbursement Agent shall notify the Issuers and the Trustee Company as soon as reasonably possible (and in any event within two three (23) Business Days business days after the Disbursement Agent receives the required documents) if any Disbursement Request, or any portion thereof, is disapproved and the reason(s) therefor. (eh) Provided that a Disbursement Request submitted in accordance with Sections 4.1(apursuant to SECTIONS 4.1(A) or (c) above through 4.1(F)above is not disapproved by the Disbursement Agent in accordance with this Agreement, thenAgent, within two three (23) Business Days business days following submission of such Disbursement Request, the Disbursement Agent shall disburse to the Disbursed Funds Account the funds requested in such Disbursement Request (other than those to be disbursed pursuant to the Initial Disbursement Request, which shall be disbursed on the Issue Date). The Issuers shall withdraw funds from and write checks on the Disbursed Funds Account solely for the purpose of paying Construction Expenses identified on or such portion thereof as is approved by Disbursement RequestAgent. (f) Provided that an Interest Disbursement Request submitted in accordance with Section 4.1(b) above is not disapproved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Interest Disbursement Request, the Disbursement Agent shall disburse to the Trustee the funds requested in such Interest Disbursement Request. (g) The Trustee may waive any condition to a disbursement requested in a Disbursement Request.

Appears in 1 contract

Samples: Cash Collateral and Disbursement Agreement (Casino Magic of Louisiana Corp)

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Disbursement Requests and Disbursements. (a) The Issuers Company shall concurrently with the execution and delivery of this Agreement have the right submit or cause to submit be submitted to the Disbursement Agent, Agent with a copy to the TrusteeTrustee and the Independent Construction Consultant, the Initial Disbursement Certificate, requesting a request for the disbursement of funds from the Construction Disbursement Account for the Initial Disbursements to be made as of the date hereof, in the form of Exhibit A attached hereto (the “an "Initial Disbursement Request"), together with all documents necessary for the making of the Initial Disbursements. (b) The Issuers Company or, as set forth in Section 5.1Article 5, the Trustee (with a copy provided to the Issuers)Trustee, shall have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Interest Disbursement Certificate, requesting a request for the disbursement of funds from the Interest Reserve Account to pay the interest due on the Notes Notes, each in the form of Exhibit C attached hereto (an "Interest Disbursement Request”) on the applicable Interest Payment Date"). (c) In accordance with Section 7.2 or Section 7.3, the Issuers The Company shall have the right from time to time during the course of this AgreementAgreement (but no more often than semi-monthly, unless otherwise permitted by the Disbursement Agent), to submit to the Disbursement Agent, with a copy to Trustee and the Independent Construction Consultant, a request for the disbursement of funds (i) up to and including the Final CDA Disbursement, from the Completion Reserve Account to the Construction Disbursement Account, each in the form of Exhibit D-1 attached hereto and (ii) after the Final CDA Disbursement, from the Completion Reserve Account to the Disbursed Funds Account or as otherwise directed in such Disbursement Request, in the form of Exhibit D-2 attached hereto (each a "Completion Reserve Disbursement Request"), in each case together with the exhibits attached thereto. (d) The Company shall have the right from time to time during the course of this Agreement (but no more often than semi-monthly (other than disbursements related to the Initial Disbursements Certificate), unless otherwise permitted by the Disbursement Agent), to submit to the Disbursement Agent, with a copy to the TrusteeTrustee and the Independent Construction Consultant, a request for the disbursement of funds from the Construction Disbursement Certificate Account to the Disbursed Funds Account or as otherwise directed in such Disbursement Request, in the form of Exhibit E-1 attached hereto (a "Construction Disbursement Request”) "), or an Advance Disbursement Certificate in the form of Exhibit E-2 attached hereto (an "Advance Disbursement Request"), in each case together with the exhibits attached thereto. (de) The Disbursement Agent shall (i) review each Disbursement Request submitted pursuant to Sections 4.1(a) through (cd) above to determine that they meet conform in form to the requirements of Sections 7.1 and 7.2 of this Agreement and conform to the forms of Exhibits AA through E-2, C, D-1 and D-2 respectively, but the Disbursement Agent shall have no obligation to review any including all attachments, exhibits and certificates required thereby (as the case may be), and (ii) have no actual knowledge of any material error, inaccuracy, misstatement or to inquire whether any condition certified to has been satisfied. If the Disbursement Agent has determined that the requirements omission of Sections 7.1 and 7.2 of this Agreement have been met and that fact in such Disbursement Request conforms to or an attachment, exhibit or certificate attached thereto or information provided by the forms Company upon the request of Exhibits A, C, D-1 and D-2, as applicable, then the Disbursement requested shall be made by the Disbursement Agent. Except as to the Initial Disbursement, which shall be made on the Issue Date, the Disbursement Agent shall notify the Issuers and the Trustee Company as soon as reasonably possible (and in any event within two (2) Business Days after the Disbursement Agent receives the required documents) if any Disbursement Request, or any portion thereof, is disapproved and the reason(s) therefor. (ef) Provided that a Disbursement Request submitted in accordance with pursuant to Sections 4.1(a) or through (cd) above is not disapproved by the Disbursement Agent in accordance with this AgreementAgent, then, within two (2) Business Days following submission of such Disbursement Request, the Disbursement Agent shall disburse to the Disbursed Funds Account the funds requested in such Disbursement Request (other than those to be disbursed pursuant to (i) the Initial Disbursement Request, which shall be disbursed on the Issue Date). The Issuers shall withdraw funds from and write checks on the Disbursed Funds Account solely for the purpose of paying Construction Expenses identified on such Disbursement Request. , or (fii) Provided that an Interest Disbursement Request submitted in accordance with Section 4.1(b) above is not disapproved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Interest Disbursement Request, which shall be disbursed on the respective Interest Payment Date), or such portion thereof as is approved by the Disbursement Agent shall disburse to the Trustee the funds requested in such Interest Disbursement RequestAgent. (g) The Trustee may waive any condition to a disbursement requested in a Disbursement Request.

Appears in 1 contract

Samples: Cash Collateral and Disbursement Agreement (Riviera Black Hawk Inc)

Disbursement Requests and Disbursements. (a) The Issuers Company shall concurrently with the execution and delivery of this Agreement have submit or cause to be submitted the right to submit to the Disbursement Agent, with a copy to the Trustee, documents necessary for the Initial Disbursement Certificate, requesting Disbursements to be made as of the disbursement of funds from the Construction Disbursement Account (the “Initial Disbursement Request”)date hereof. (b) The Issuers Company or, as set forth in Section 5.1ARTICLE 5, the Trustee (with a copy provided to the Issuers)Trustee, --------- shall have the right to submit to the Disbursement Agent, with a copy to the Trustee, the Interest Disbursement Certificate, requesting a request for the disbursement of funds from the Interest Reserve Account to pay the interest due on the Notes Notes, each in the form of EXHIBIT C --------- attached hereto (an “Interest Disbursement Request”) on the applicable Interest Payment Date"INTEREST DISBURSEMENT REQUEST"). (c) In accordance with Section 7.2 or Section 7.3, the Issuers The Company shall have the right from time to time during the course of this AgreementAgreement (but no more often than semi-monthly, unless otherwise permitted by the Disbursement Agent), to submit to the Disbursement Agent, with a copy to Trustee and the Independent Construction Consultant, a request for the disbursement of funds from the Completion Reserve Account to the Construction Disbursement Account, each in the form of EXHIBIT D attached hereto (a "COMPLETION RESERVE --------- DISBURSEMENT REQUEST"), together with the exhibits attached thereto. (d) The Company shall have the right from time to time during the course of this Agreement (but no more often than semi-monthly (other than disbursements related to the Initial Disbursements Certificate), unless otherwise permitted by the Disbursement Agent), to submit to the Disbursement Agent, with a copy to the TrusteeTrustee and the Independent Construction Consultant, a request for the disbursement of funds from the Construction Disbursement Certificate Account to the Disbursed Funds Account, in the form of EXHIBIT E-1 attached hereto (a “Construction Disbursement Request”) ----------- "CONSTRUCTION DISBURSEMENT REQUEST"), or an Advance Disbursement Certificate in the form of EXHIBIT E-2 attached ----------- hereto (an “Advance Disbursement Request”"ADVANCE DISBURSEMENT REQUEST"), in each case together with the exhibits attached thereto. (de) The Disbursement Agent shall review each Disbursement Request submitted pursuant to Sections 4.1(aSECTIONS 4.1(A) through THROUGH (cD) above to determine that they meet --------------------------- conform in form to the requirements of Sections 7.1 EXHIBITS A THROUGH E-2, respectively and 7.2 of this Agreement and conform ---------------------- that, to the forms best of Exhibits A, C, D-1 and D-2 respectively, but the Disbursement Agent shall have no obligation Agent's actual knowledge, all other the conditions applicable to review any attachments, exhibits and certificates required thereby (as the case may be) or to inquire whether any condition certified to has been satisfied. If the Disbursement Agent has determined that the requirements of Sections 7.1 and 7.2 of this Agreement have been met and that such Disbursement Request conforms to the forms of Exhibits A, C, D-1 and D-2, as applicable, then the Disbursement requested shall be made by the Disbursement Agenthave been satisfied. Except as to the Initial Disbursement, which shall be made on the Issue Date, the Disbursement Agent shall notify the Issuers and the Trustee Company as soon as reasonably possible (and in any event within two (2) Business Days business days after the Disbursement Agent receives the required documents) if any Disbursement Request, or any portion thereof, is disapproved and the reason(s) therefor. (ef) Provided that a Disbursement Request submitted in accordance with Sections 4.1(apursuant to SECTIONS 4.1(A) or THROUGH (cB) above is not disapproved by the Disbursement Agent in accordance with this AgreementAgent, --------------------------- then, within two (2) Business Days business days following submission of such Disbursement Request, the Disbursement Agent shall disburse to the Disbursed Funds Account the funds requested in such Disbursement Request (other than those to be disbursed pursuant to the Initial Disbursement Request, which shall be disbursed on the Issue Date). The Issuers shall withdraw funds from and write checks on the Disbursed Funds Account solely for the purpose of paying Construction Expenses identified on , or such Disbursement Request. (f) Provided that an Interest Disbursement Request submitted in accordance with Section 4.1(b) above portion thereof as is not disapproved approved by the Disbursement Agent in accordance with this Agreement, then, within two (2) Business Days following submission of such Interest Disbursement Request, the Disbursement Agent shall disburse to the Trustee the funds requested in such Interest Disbursement RequestAgent. (g) The Trustee may waive any condition to a disbursement requested in a Disbursement Request.

Appears in 1 contract

Samples: Cash Collateral and Disbursement Agreement (Isle of Capri Black Hawk Capital Corp)

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