Common use of Distributions by the Facility Agent Clause in Contracts

Distributions by the Facility Agent. (a) Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 32.3 (Distributions to an Obligor Party) and Clause 32.4 (Clawback) be made available by the Facility Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Facility Agent by not less than five (5) Business Days’ notice with a bank in the principal financial centre of the country of that currency. (b) The Facility Agent shall distribute payments received by it in relation to all or any part of a Loan to the Lender indicated in the records of the Facility Agent as being so entitled on that date provided that the Facility Agent is authorised to distribute payments to be made on the date on which any transfer becomes effective pursuant to Clause 26 (Changes to the Lenders) to the Lender so entitled immediately before such transfer took place regardless of the period to which such sums relate.

Appears in 2 contracts

Samples: Facility Agreement (GDS Holdings LTD), Facility Agreement (GDS Holdings LTD)

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Distributions by the Facility Agent. (a) Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 32.3 24.3 (Distributions to an Obligor Partythe Borrower) and Clause 32.4 24.4 (Clawback) be made available by the Facility Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Facility Agent by not less than five (5) Business Daysbusiness days’ notice with a bank in the principal financial centre of the country of that currency. (b) The Facility Agent shall distribute payments received by it in relation to all or any part of a Loan to the Lender indicated in the records of the Facility Agent as being so entitled on that date provided that the Facility Agent is authorised to distribute payments to be made on the date on which any transfer becomes effective pursuant to Clause 26 20 (Changes to the LendersParties) to the Lender so entitled immediately before such transfer took place regardless of the period to which such sums relate.

Appears in 1 contract

Samples: Term Loan Facility Agreement (China Security & Surveillance Technology, Inc.)

Distributions by the Facility Agent. (a) Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 32.3 26.3 (Distributions to an Obligor Partythe Borrower) and Clause 32.4 26.4 (Clawback) be made available by the Facility Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Facility Agent by not less than five (5) Business Days' notice with a bank in the principal financial centre of the country of that currency. (b) The Facility Agent shall distribute payments received by it in relation to all or any part of a Loan to the Lender indicated in the records of the Facility Agent as being so entitled on that date provided that the Facility Agent is authorised to distribute payments to be made on the date on which any transfer becomes effective pursuant to Clause 26 21 (Changes to the LendersParties) to the Lender so entitled immediately before such transfer took place regardless of the period to which such sums relate.

Appears in 1 contract

Samples: Bridge Facility Agreement (Visteon Corp)

Distributions by the Facility Agent. (a) Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 32.3 24.3 (Distributions to an Obligor Partythe Borrower) and Clause 32.4 24.4 (Clawback) be made available by the Facility Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Facility Agent by not less than five (5) Business Days’ business days' notice with a bank in the principal financial centre of the country of that currency. (b) The Facility Agent shall distribute payments received by it in relation to all or any part of a Loan to the Lender indicated in the records of the Facility Agent as being so entitled on that date provided Provided that the Facility Agent is authorised to distribute payments to be made on the date on which any transfer becomes effective pursuant to Clause 26 20 (Changes to the LendersParties) to the Lender so entitled immediately before such transfer took place regardless of the period to which such sums relate.

Appears in 1 contract

Samples: Term Loan Facility Agreement (China Security & Surveillance Technology, Inc.)

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Distributions by the Facility Agent. (a) Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 32.3 25.3 (Distributions to an Obligor Partythe Borrower) and Clause 32.4 25.4 (Clawback) be made available by the Facility Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Facility Agent by not less than five (5) Business Days’ business days' notice with a bank in the principal financial centre of the country of that currency. (b) The Facility Agent shall distribute payments received by it in relation to all or any part of a Loan to the Lender indicated in the records of the Facility Agent as being so entitled on that date provided Provided that the Facility Agent is authorised to distribute payments to be made on the date on which any transfer becomes effective pursuant to Clause 26 20 (Changes to the LendersParties) to the Lender so entitled immediately before such transfer took place regardless of the period to which such sums relate.

Appears in 1 contract

Samples: Term Loan Facility Agreement (China Security & Surveillance Technology, Inc.)

Distributions by the Facility Agent. (a) Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 32.3 27.3 (Distributions to an Obligor Partythe Borrower) and Clause 32.4 27.4 (Clawback) ), be made available by the Facility Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Facility Agent by not less than five (5) Business Days' notice with a bank in the principal financial centre of the country of that currency. (b) The Facility Agent shall distribute payments received by it in relation to all or any part of a Loan to the Lender indicated in the records of the Facility Agent as being so entitled on that date provided that the Facility Agent is authorised to distribute payments to be made on the date on which any transfer becomes effective pursuant to Clause 26 22 (Changes to the LendersParties) to the Lender so entitled immediately before such transfer took place regardless of the period to which such sums relate.

Appears in 1 contract

Samples: Senior Facilities Agreement (Net 1 Ueps Technologies Inc)

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