Common use of Distributions by the Facility Agent Clause in Contracts

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 (Distributions to an Obligor) and Clause 36.4 (Clawbock) 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 Business Days’ notice with a bank in the principal financial centre of the country of that currency or, in the case of a Tranche, to such account of such person as may be specified by the Borrowers in a Utilisation Request.

Appears in 2 contracts

Samples: Term Loan Facility (Dorian LPG Ltd.), Term Loan Facility (Dorian LPG Ltd.)

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Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 38.3 (Distributions to an Obligor) and Clause 36.4 38.4 (ClawbockClawback and pre-funding) 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 Business Days' notice with a bank specified by that Party in the principal financial centre of the country of that currency currency, as specified by that Party or, in the case of a Tranchean Advance, to such account of such person as may be specified by the Borrowers in a Utilisation Request.

Appears in 1 contract

Samples: Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 33.3 (Distributions to an Obligor) and Clause 36.4 33.4 (ClawbockClawback and pre-funding) 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 Business Days' notice with a bank specified by that Party in the principal financial centre of the country of that currency currency, as specified by that Party or, in the case of a Tranchethe Loan, to such account of such person as may be specified by the Borrowers Borrower in a the Utilisation Request.

Appears in 1 contract

Samples: Facility Agreement (Euroseas Ltd.)

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 39.3 (Distributions to an Obligor) and Clause 36.4 39.4 (ClawbockClawback and pre-funding) 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 Business Days’ notice with a bank specified by that Party in the principal financial centre of the country of that currency currency, as specified by that Party or, in the case of a Tranchean advance of the Loan, to such account of such person as may be specified by the Borrowers in a the Utilisation Request.

Appears in 1 contract

Samples: Loan Agreement (Ardmore Shipping Corp)

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 (Distributions to an Obligor) and Clause 36.4 (ClawbockClawback and pre-funding) 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 Business Days’ notice with a bank specified by that Party in the principal financial centre of the country of that currency currency, as specified by that Party or, in the case of a Tranchean Advance, to such account of such person as may be specified by the Borrowers in a Utilisation Request.

Appears in 1 contract

Samples: Term Loan Facility (Ardmore Shipping Corp)

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 (Distributions to an Obligor) and Clause 36.4 (ClawbockClawback and pre-funding) 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 Business Days' notice with a bank specified by that Party in the principal financial centre of the country of that currency currency, as specified by that Party or, in the case of a Tranchean Advance, to such account of such person as may be specified by the Borrowers in a Utilisation Request.

Appears in 1 contract

Samples: Term Loan Facility (Ardmore Shipping Corp)

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 34.3 (Distributions to an Obligor) and Clause 36.4 34.4 (ClawbockClawback and pre-funding) 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 Business Days' notice with a bank in the principal financial centre of the country of that currency currency, or, in the case of a Tranchean Advance, to such account of such person as may be specified by the Borrowers in a Utilisation Request.

Appears in 1 contract

Samples: Term Loan Facility (Star Bulk Carriers Corp.)

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Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 28.3 (Distributions to an Obligorto) and Clause 36.4 28.4 (ClawbockClawback) 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 Business Days' notice with a bank specified by that Party in the principal financial centre of the country of that currency or, in the case of a Tranchethe Loan, to such account of such person as may be specified by the Borrowers Borrower in a the Utilisation Request.

Appears in 1 contract

Samples: Term Loan Facility (DryShips Inc.)

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 38.3 (Distributions to an Obligor) and Clause 36.4 38.4 (ClawbockClawback and pre-funding) 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 Business Days’ notice with a bank specified by that Party in the principal financial centre of the country of that currency currency, as specified by that Party or, in the case of a Tranchean Advance, to such account of such person as may be specified by the Borrowers in a Utilisation Request.

Appears in 1 contract

Samples: Term and Accordion Facilities Agreement (Ardmore Shipping Corp)

Distributions by the Facility Agent. Each payment received by the Facility Agent under the Finance Documents for another Party shall, subject to Clause 36.3 (Distributions to an a Transaction Obligor) and Clause 36.4 (ClawbockClawback and pre-funding) 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 Business Days' notice with a bank specified by that Party in the principal financial centre of the country of that currency currency, as specified by that Party or, in the case of a Tranchean Advance, to such account of such person as may be specified by the Borrowers in a Utilisation Request.

Appears in 1 contract

Samples: Term Loan Facility (Okeanis Eco Tankers Corp.)

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