Disbursements from Account. All Relinquished Property Proceeds shall be held subject to the terms of this Agreement (including the terms of Section 4.01(f)) and, following any transfer of such Relinquished Property Proceeds to an Exchange Account or a Joint Disbursement Account in accordance with the terms hereof, the Escrow Agreement.
Disbursements from Account. Escrow Agent shall disburse Assets from the Account only upon a written direction signed by an Authorized Representative of Depositor. Amounts disbursed for retainage payments shall be disbursed upon the written direction of Depositor in substantially the form attached as Exhibit B. Escrow Agent shall be fully protected in relying upon the written directions of Depositor given in accordance with this Master Escrow Agreement, and shall have no duty or obligation to Depositor or any third parties to make independent inquiry or investigation.
Disbursements from Account. On the Effective Date, a portion of the Gross Naperville Consideration in the amount of $500,000 (the "Reserve") has been distributed by the Napervile Owner to Borrower and has been deposited into the Reserve Account. Upon the request of the Borrower at any time (but not more than once during any calendar month), Lender shall disburse funds held in the Reserve Account to Borrower within ten (10) days after satisfaction of all conditions set forth in this subsection, which funds shall be used by Borrower to make capital contributions to the Maple Grove Owner or Lxxx Lakes Owner to pay, or to reimburse the Maple Grove Owner or Lxxx Lakes Owner for its payment of, Leasing Commissions and/or Tenant Improvements costs incurred by the Maple Grove Owner or Lxxx Lakes Owner in connection with a New Lease of all or part of the Properties entered into after the Effective Date in accordance with the Loan Documents; provided, however, that Lender's obligation to disburse such funds shall be subject to the following conditions: (i) Lender shall have approved the New Lease and brokerage agreement with respect thereto in respect of which the Leasing Commissions and/or Tenant Improvements costs arose; and (ii) Borrower shall have executed and delivered to Lender a certificate (A) attaching true, correct, and complete copies of invoices or requisitions (or other evidence) in respect of the Leasing Commissions and/or Tenant Improvements for which Borrower seeks payment, (B) confirming that the proceeds of the requested disbursement will be used by the Maple Grove Owner or Lxxx Lakes Owner to pay or reimburse the Maple Grove Owner or Lxxx Lakes Owner for Leasing Commissions and/or Tenant Improvements costs actually paid by the Maple Grove Owner or Lxxx Lakes Owner or due and payable by the Maple Grove Owner or Lxxx Lakes Owner within thirty (30) days and which were or will be paid in accordance with the provisions of the approved New Leases and brokerage agreements, and (C) setting forth in reasonable detail the Leasing Commissions and/or Tenant Improvements to which such funds shall be applied, together with evidence reasonably satisfactory to Lender that such sums were or will within thirty (30) days be due and payable in accordance with the provisions of the brokerage agreements and the New Leases; and (iii) Borrower shall have delivered to Lender any other material information or certificates reasonably requested by Lender in connection with such Leasing Commissions and/...
Disbursements from Account. (a) Funds held in the Account shall be applied by Ebiz solely for the purpose of funding the development, implementation and operation of ELM as a viable business operation of Ebiz and shall be used for no other purpose. Notwithstanding the foregoing, all interest earned on funds in the Account shall belong to and may be withdrawn by Ebiz in its sole discretion.
Disbursements from Account. Agent shall disburse Assets from the Account only upon a written direction signed by an Authorized Representative of Secured Party. Amounts disbursed for retainage payments shall be disbursed upon the written direction of Secured Party in substantially the form attached as Exhibit B. Agent shall be fully protected in relying upon the written directions of Secured Party given in accordance with this Escrow Agreement and shall have no duty or obligation to Secured Paty or any third parties to make independent inquiry or investigation.
