Disbursements from the Excess Cash Flow Account Sample Clauses

Disbursements from the Excess Cash Flow Account. From time to time during the continuance of a Cash Sweep Period, Lender (or its Servicer) shall instruct Cash Management Bank to transfer all funds on deposit in the Excess Cash Flow Account (as defined in the Cash Management Agreement) to Lender to be held by Xxxxxx as additional collateral for the Debt. The funds in the Excess Cash Flow Account (as defined in the Cash Management Agreement) and the funds transferred to Lender under the previous sentence shall be referred to in this agreement as the “Excess Cash Flow Reserve Funds.” Provided that no Event of Default is then continuing, Lender shall release to the Cash Management Account all Excess Cash Flow Reserve Funds on the first Payment Date after Borrower delivers to Lender evidence reasonably satisfactory to Lender establishing that no Cash Sweep Period is then continuing, to be applied in accordance with Section 2.6.4 of this Agreement. Such a release shall not preclude the subsequent commencement of a Cash Sweep Period and the deposit of amounts into the Excess Cash Flow Account as set forth in Section 2.6.4(b) to the Cash Management Account. Any Excess Cash Flow Reserve Funds and any other amounts in the Cash Management Account remaining after the Debt has been paid in full shall be disbursed to Borrower. For the avoidance of doubt, during the continuance of an Event of Default, Lender may apply the Excess Cash Flow Reserve Funds, any amounts contained in the Cash Management Account and any amounts contained in any Reserve Account to the payment of the Debt or expenses at the Properties, in each case, in any order or priority in Xxxxxx’s sole discretion.
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Related to Disbursements from the Excess Cash Flow Account

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Definitions For purposes of this Agreement:

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Assignment This Agreement and all rights and obligations hereunder may not be assigned without the written consent of the other party.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

  • Indemnification In the event any Registrable Securities are included in a Registration Statement under this Agreement:

  • Counterparts This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

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