Common use of Drawdowns and Disbursements from Collateral Accounts Clause in Contracts

Drawdowns and Disbursements from Collateral Accounts. The Borrowers will issue Drawdowns at such times as are necessary in order to ensure the timely payment of the Obligations hereunder in accordance with their respective Constituent Documents. Each Borrower hereby irrevocably authorizes and directs the Secured Parties, acting through the Administrative Agent, upon the occurrence and during the continuation of any Event of Default, to charge from time to time the Collateral Accounts and the Cash Collateral Account, for amounts not paid when due (after the passage of any applicable grace period) to the Secured Parties or any of them hereunder and under the other Loan Documents; provided that promptly after any disbursement of funds from any such account to the Secured Parties, as contemplated in this Section 5.2(d), the Administrative Agent shall deliver a written notice of such disbursement to the applicable Borrower.

Drawdowns and Disbursements from Collateral Accounts. The Borrowers will issue Drawdowns at such times as are necessary in order to ensure the timely payment of the Obligations hereunder in accordance with their respective Constituent Documents. Each Borrower hereby irrevocably authorizes and directs the Secured Parties, acting through the Administrative Agent, upon the occurrence and during the continuation of any Event of Default, to charge from time to time the Collateral Accounts and the Cash Collateral Account, for amounts not paid when due (after the passage of any applicable grace period) to the Secured Parties or any of them hereunder and under the other Loan Documents; provided that promptly after any disbursement of funds from any such account to the Secured Parties, as contemplated in this Section 5.2(d), the Administrative Agent shall deliver a written notice of such disbursement to the applicable BorrowerBorrowers.

Drawdowns and Disbursements from Collateral Accounts. The Subject to the Operative Documents and any requirements under Applicable Law, the Borrowers will issue Drawdowns at such times as are necessary in order to ensure the timely payment of the Obligations hereunder in accordance with their respective Constituent Documentshereunder. Each Borrower hereby irrevocably authorizes and directs the Secured Parties, acting through the Administrative Agent, upon the occurrence and during the continuation of any Event of Default, to charge from time to time the Collateral Accounts Accounts, and the Cash Collateral Accountany other accounts of any Borrower maintained at Xxxxx Fargo, for amounts not paid when due (after the passage of any applicable grace period) to the Secured Parties or any of them hereunder and under the other Loan Documents; provided that promptly after any disbursement of funds from any such account to the Secured Parties, as contemplated in this Section 5.2(d), the Administrative Agent shall deliver a written notice of such disbursement to the applicable Borrower.