Common use of Distribution of payments to Creditor Parties Clause in Contracts

Distribution of payments to Creditor Parties. Subject to Clauses 16.5, 16.6 and 16.7 any amount received by the Agent under a Finance Document for distribution or remittance to a Lender, or the Swap Banks or the Security Trustee shall be made available by the Agent to that Lender or, as the case may be, the Security Trustee or the Swap Banks by payment, with funds having the same value as the funds received, to such account as the Lender, or the Security Trustee or the Swap Banks may have notified to the Agent not less than 5 Business Days previously.

Distribution of payments to Creditor Parties. Subject to Clauses 16.5, 16.6 and 16.7 any amount received by the Agent under a Finance Document for distribution or remittance to a Lender, or the Swap Banks or the Security Trustee shall be made available by the Agent to that Lender or, as the case may be, or the Security Trustee or the Swap Banks by payment, with funds having the same value as the funds received, to such account as the Lender, or the Security Trustee or the Swap Banks may have notified to the Agent not less than 5 Business Days previously.

Distribution of payments to Creditor Parties. Subject to Clauses 16.5, 16.6 and 16.7 any amount received by the Agent under a Finance Document for distribution or remittance to a Lender, or the Swap Banks Bank or the Security Trustee shall be made available by the Agent to that Lender or, as the case may be, the Security Trustee or the Swap Banks Bank by payment, with funds having the same value as the funds received, to such account as the Lender, or the Security Trustee or the Swap Banks Bank may have notified to the Agent not less than 5 Business Days previously.