Distribution by Agent. (a) A payment received by the Agent under a Finance Document is received by the Agent on account of the Lenders unless: (1) the payment is made to the Agent for its own account; or (2) a provision in a Finance Document expressly provides otherwise. (b) The Agent must promptly distribute amounts received on account of the Lenders among them in their respective Pro Rata Shares and in the same type of funds as received by the Agent.
Appears in 2 contracts
Samples: Term Facility Agreement (Paringa Resources LTD), Project Facility Agreement (Paringa Resources LTD)
Distribution by Agent. (a) A payment received by the Agent under a Finance Transaction Document is received by the Agent on account of the Lenders Financiers unless:
(1) the payment is made to the Agent for its own account; or
(2) a provision in a Finance Transaction Document expressly provides otherwise.
(b) The Agent must promptly distribute amounts received on account of the Lenders among them Financiers to the Financiers in their respective Pro Rata Shares and in the same type of funds as received by the Agent.
Appears in 2 contracts
Samples: Project Facility Agreement (Apollo Gold Corp), Bridge Facility Agreement (Apollo Gold Corp)
