Escrow Account Authorizations Sample Clauses

Escrow Account Authorizations. Only officers of the Escrow Agent shall be entitled to withdraw funds from the Escrow Account as provided herein. OTEC shall deliver to Escrow Agent for deposit in the Escrow Account all funds, checks, bank money orders, etc., received by OTEC from the sale of membership units. All checks, bank money orders, etc. shall be made payable to "Midwest Bank N.A. as Escrow Agent for Oregon Trail Ethanol Coalition, L.L.C.". OTEC shall deliver to Escrow Agent with each subscriber's funds, the subscriber's name, address, amount of investment and date of deposit. Escrow Agent shall maintain this information in its records for the purpose of returning to each subscriber the subscriber's funds in the event that the minimum equity offering of $18 million is not subscribed by March 1, 2003, subject to extension by OTEC to up to April 30, 2003, the OTEC prospectus (the "Termination Date"). All proceeds so deposited shall remain the property of the subscriber and shall not be subject to any liens or charges by the Escrow Agent or judgments or creditors' claims against OTEC unless and until released to OTEC as hereinafter provided. The pro rata amount of interest to be allocated to each subscriber in the event the funds are returned to the subscribers will be based on the date of the deposit of the respective subscriber's funds into the Escrow Account by OTEC.
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Escrow Account Authorizations. Only officers of the Escrow Agent shall be entitled to withdraw funds from the Escrow Account as provided herein. Husker Ag shall deliver to Escrow Agent for deposit in the Escrow Account all funds, checks, bank money orders, etc., received by Husker Ag from the sale of membership units. All checks, bank money orders, etc. shall be made payable to "Midwest Bank N.A. as Escrow Agent for Husker Ag Processing, LLC". Husker Ag shall deliver to Escrow Agent with each investor's funds, the investor's name, address, amount of investment and date of deposit. Escrow Agent shall maintain this information in its records for the purpose of returning to each investor the investor's funds in the event that the minimum equity offering of $10 million is not subscribed by December 1, 2001, as provided in Paragraph 4 of this Agreement. All proceeds so deposited shall remain the property of the subscriber and shall not be subject to any liens or charges by the Escrow Agent or judgments or creditors' claims against Husker Ag unless and until released to Husker Ag as hereinafter provided. The pro rata amount of interest to be allocated to each subscriber in the event the funds are returned to the subscribers will be based on the date of the deposit of the respective subscriber's funds into the Escrow Account by Husker Ag.
Sample 1
Escrow Account Authorizations. Only officers of the Escrow Agent shall be entitled to withdraw funds from the escrow account as provided herein. Western Plains Energy shall deliver to Escrow Agent for deposit in the escrow account all funds checks, bank money orders, etc., received by Western Plains Energy from the sale of Class A and B capital units. All checks, bank money orders, etc. shall be made payable to "Western Plains Energy Escrow Account." Western Plains Energy shall deliver to Escrow Agent with each investor's funds, the investor's name, address and amount of investment. Escrow Agent shall maintain this information in its records for the purpose of returning to each investor the investor's funds in the event that the minimum equity offering of $15,735,000.00 is not subscribed by March 31, 2003, as provided in Paragraph 4 of this Agreement.
Sample 1Sample 2
Escrow Account Authorizations. Only officers of the Escrow Agent shall be entitled to withdraw funds from the escrow account as provided herein. Great Plains Ethanol shall deliver to Escrow Agent for deposit in the escrow account all funds, checks, bank money orders, etc., received by Great Plains Ethanol from the sale of Class A, B and C capital units. All checks, bank money orders, etc. shall be made payable to "Great Plains Ethanol Escrow Account". Great Plains Ethanol shall deliver to Escrow Agent with each investor's funds, the investor's name, address and amount of investment. Escrow Agent shall maintain this information in its records for the purpose of returning to each investor the investor's funds in the event that the minimum equity offering of $12.75 million is not subscribed by March 15, 2002, as provided in Paragraph 4 of this Agreement.
Sample 1

Related to Escrow Account Authorizations

  • Disbursement Authorization The Company shall have delivered to the Agent all information necessary for the Agent and the Lenders to issue wire transfer instructions on behalf of the Company for the initial and subsequent loans and/or advances to be made under this Financing Agreement including, but not limited to, disbursement authorizations in form acceptable to the Agent.

  • Agent Authorization After the occurrence and during the continuance of any Event of Default (including the commencement and continuation of any Insolvency Proceeding relating to any other Obligor), Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, Intercompany Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, Intercompany Obligations and (B) to pay any amounts received on such obligations to Agent for application to the Guaranteed Obligations (including any and all Post Petition Interest).

  • Government Authorizations No Consent of, with or to any Governmental Authority is required to be obtained or made by or with respect to Buyer or any of its Affiliates in connection with the execution and delivery of this Agreement and the other Transaction Documents by Buyer or the consummation by Buyer of the transactions contemplated hereby and thereby, except for (a) required filings under the HSR Act, (b) as set forth on Section 5.4 of the Buyer Disclosure Schedule, and (c) Consents not required to be made or given until after Closing.

  • Governmental Authorizations; Private Authorizations; Governmental Filings The Borrower has obtained, maintained and kept in full force and effect all Governmental Authorizations and Private Authorizations which are necessary for it to properly carry out its business, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect, and made all material Governmental Filings necessary for the execution and delivery by it of the Facility Documents to which it is a party, the Borrowings by the Borrower under this Agreement, the pledge of the Collateral by the Borrower under this Agreement and the performance by the Borrower of its obligations under this Agreement, the other Facility Documents, and no material Governmental Authorization, Private Authorization or Governmental Filing which has not been obtained or made, is required to be obtained or made by it in connection with the execution and delivery by it of any Facility Document to which it is a party, the Borrowings by the Borrower under this Agreement, the pledge of the Collateral by the Borrower under this Agreement or the performance of its obligations under this Agreement and the other Facility Documents to which it is a party.

  • Required Authorizations BUYER shall obtain and procure all necessary corporate and other approvals and authorizations, if any, required on its part to enable it to fully perform all obligations imposed on it hereunder which must be performed by it at or prior to the Closing.

  • Government Authorization No consent, approval, order or authorization of, or registration, declaration or filing with, or notice to, any Governmental Entity, is required by or with respect to Pubco in connection with the execution and delivery of this Agreement by Pubco, or the consummation by Pubco of the transactions contemplated hereby, except, with respect to this Agreement, any filings under the Nevada Statutes, the Securities Act or the Exchange Act.

  • Permits, Authorizations, Etc Buyers shall have ----------------------------- obtained any and all material permits, authorizations, consents, waivers and approvals required for the lawful consummation of the Merger.

  • Appointment; Authorization Each Lender hereby irrevocably appoints, designates and authorizes Agent to take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any other Loan Document, Agent shall not have any duty or responsibility except those expressly set forth herein, nor shall Agent have or be deemed to have any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against Agent.

  • Administrative Agent Authorization After the occurrence and during the continuance of any Default (including the commencement and continuation of any proceeding under any Bankruptcy Law relating to any other Loan Party), the Administrative Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each Guarantor, to collect and enforce, and to submit claims in respect of, Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, Subordinated Obligations and (B) to pay any amounts received on such obligations to the Administrative Agent for application to the Guaranteed Obligations (including any and all Post Petition Interest).

  • Compliance with Law; Authorizations The Company has complied with ----------------------------------- each, and is not in violation of any, law, ordinance, or governmental or regulatory rule or regulation, whether federal, state, local or foreign ("Regulations"), to which the Company's business, operations, assets or properties is subject. The Company owns, holds, possesses or lawfully uses in the operation of its business all franchises, licenses, permits, easements, rights, applications, filings, registrations and other authorizations ("Authorizations") which are in any manner necessary for it to conduct its business as now or previously conducted or for the ownership and use of the assets owned or used by it in the conduct of its business, free and clear of all liens, charges, restrictions and encumbrances and in compliance with all Regulations. All such Authorizations are listed and described on Schedule 5.22. ------------- The Company is not in default and has not received any notice of any claim of default, with respect to any such Authorization. All such Authorizations are renewable by their terms or in the ordinary course of business without the need to comply with any special qualification procedures or to pay any amounts other than routine filing fees. None of such Authorizations will be adversely affected by consummation of the transactions contemplated hereby. No director, officer, employee or former employee of the Company or any affiliates of the Company, or any other person, firm or corporation, owns or has any proprietary, financial or other interest (direct or indirect) in any Authorization which the Company owns, possesses or uses in the operation of its business as now or previously conducted.

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