Final Disbursement of Funds Following Operating Date Sample Clauses

Final Disbursement of Funds Following Operating Date. If (a) the Bossier City Project is Operating and (b) any funds remain in the Construction Disbursement Account, then the Company shall have the right to request that the Disbursement Agent disburse all remaining funds in the Construction Disbursement Account. Upon receipt by the Disbursement Agent of (a) a written certification from the Company that (i) the Bossier City Project commenced Operating, and the Bossier City Project continues to be Operating as of the date of the certification, (ii) no Event of Default has occurred and is continuing and no facts or circumstances exist which, with the passage of time, would constitute an Event of Default and (iii) the Company has generated Consolidated Cash Flow in an amount equal to or greater than the amount remaining in the Construction Disbursement Account, and (b) a written certification, from the Independent Construction Consultant concurring with the certifications set forth in subsection (a)(i) hereof, then the Disbursement Agent shall disburse all remaining funds in the Construction Disbursement Account, if any, as directed by the Company (the "FINAL DISBURSEMENT"); provided, however, that the Disbursement Agent shall first disburse funds to the Disbursed Funds Account in amounts certified in writing by the Independent Construction Consultant as sufficient to pay any then unpaid Retainage Amounts and upon receipt of a certificate from the Independent Construction Consultant certifying that it has received unconditional lien waivers from all contractors, subcontractors, materialmen or suppliers relating to construction of the Bossier City Project; provided, further, that all finds disbursed to the Company pursuant to this SECTION 8.4 shall be used by the Company as required pursuant to SECTION 4.10 of the Indenture.
Sample 1
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Final Disbursement of Funds Following Operating Date. If any ----------------------------------------------------- funds remain in the Construction Disbursement Account and/or the Completion Reserve Account and (a) the Isle-Black Hawk is Operating and has been Operating for at least the preceding thirty (30) days uninterrupted (and, in the event the Company exercised the Hotel Option, the hotel was completed more than thirty (30) days prior to the date hereof), subject only to Permitted Liens, (b) there is no ongoing construction in connection with the Isle-Black Hawk, including in connection with the hotel if the Company has exercised the Hotel Option, and (c) there exists no Default or Event of Default, then the Company shall have the right to request that the Disbursement Agent disburse all remaining funds in the Construction Disbursement Account and the Completion Reserve Account. Upon receipt by the Disbursement Agent of (a) a written certification from the Company that (i) the Isle-Black Hawk is Operating and has been Operating for at least the preceding thirty (30) days uninterrupted (and, in the event the Company exercised the Hotel Option, the hotel was completed more than thirty (30) days prior to the date hereof), subject only to Permitted Liens, (ii) there is no ongoing construction in connection with the Isle-Black Hawk or the hotel, if the Company exercised the Hotel Option, and (iii) the Disbursement Agent has not received written notice by any party hereto that a Default or Event of Default exists, and (b) a written certification from the Independent Construction Consultant concurring with the certifications set forth in subsection (a)(i) and (ii) hereof, then the Disbursement Agent shall disburse all remaining funds in the Construction Disbursement Account and the Completion Reserve Account, as directed by the Company (the "FINAL DISBURSEMENT"); provided, however, that the Disbursement Agent shall first disburse funds to the -------- ------- Disbursed Funds Account in amounts certified in writing by the Independent Construction Consultant as sufficient to pay any then unpaid Retainage Amounts (which shall be applied accordingly), and no additional sums shall be distributed until the Disbursement Agent shall have received a certificate from the Independent Construction Consultant certifying that it has received unconditional lien waivers from all contractors, subcontractors, materialmen or suppliers relating to construction of the Isle-Black Hawk; provided, further, -------- ------- that all f...
Sample 1
Final Disbursement of Funds Following Operating Date. Provided that no Event of Default has occurred and is continuing, any funds allocated to a New Club that remain in the Disbursement Account after such New Club has been Operating (other than funds retained to pay Construction Costs or discharge Liens with respect to such New Club) may be disbursed to the Company Party that owns or operates such New Club in accordance with the provisions of this Section (the "Final Disbursement"). Upon receipt by the Disbursement Agent of a written certification from such Company Party that (i) such New Club is Operating, and (ii) no Event of Default exists, then the Disbursement Agent shall disburse the Final Disbursement as directed by such Company Party.
Sample 1
Final Disbursement of Funds Following Operating Date. If the Authority provides written certification to the Escrow Agent that (a) the Expanded Resort is Completed, has commenced operations and the Expanded Resort continues to be operating as of the date of the certification and (b) funds remain in the Reserve Account as of the date of the certification then, the Escrow Agent shall disburse all remaining funds in the Reserve Account to the Tribe within five business days.
Sample 1
Final Disbursement of Funds Following Operating Date 
Sample 1

Related to Final Disbursement of Funds Following Operating Date

  • Disbursement of Funds (a) No later than 2:00 p.m. (New York City time) on the date specified in each Notice of Borrowing (including Mandatory Borrowings), each Lender made available its pro rata portion, if any, of each Borrowing requested to be made on such date in the manner provided below; provided that on the Original Closing Date, such funds were made available at such earlier time as may be agreed among the Lenders, the Borrower and the Administrative Agent for the purpose of consummating the Transactions; provided further that all Swingline Loans shall be made available to the Borrower in the full amount thereof by the Swingline Lender no later than 4:00 p.m. (New York City time) on the date requested. (b) Each Lender shall make available all amounts it is to fund to the Borrower under any Borrowing for its applicable Commitments, and in immediately available funds to the Administrative Agent at the Administrative Agent’s Office and the Administrative Agent will (except in the case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings) make available to the Borrower, by depositing to an account designated by the Borrower to the Administrative Agent the aggregate of the amounts so made available in the applicable currency. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so) make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made available such amount to the Borrower, the Administrative Agent shall be entitled to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent in the applicable currency. The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if paid by such Lender, the Overnight Rate or (ii) if paid by the Borrower, the then-applicable rate of interest or fees, calculated in accordance with Section 2.8, for the respective Loans. (c) Nothing in this Section 2.4 shall be deemed to relieve any Lender from its obligation to, fulfill its commitments hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments hereunder).

  • Single Disbursement to Borrower Borrower shall receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.

  • Monthly Disbursements On or before the fifth (5th) day of each calendar month, during the design and construction of the Tenant Improvements (or such other date as Landlord may designate), Tenant shall deliver to Landlord: (i) a request for reimbursement of amounts paid to the “Contractor,” as that term is defined in Section 4.1.1 of this Tenant Work Letter, approved by Tenant, in a commercially reasonable form to be provided by Landlord, showing the schedule, by trade, of percentage of completion of the Tenant Improvements in the Premises, detailing the portion of the work completed and the portion not completed; (ii) invoices from all of “Tenant’s Agents,” as that term is defined in Section 4.1.2 of this Tenant Work Letter, for labor rendered and materials for the Premises; (iii) executed mechanic’s lien releases, as applicable, from all of Tenant’s Agents which shall comply with the appropriate provisions, as reasonably determined by Landlord, of California Civil Code Section 3262(d); and (iv) all other information reasonably requested by Landlord. Tenant’s request for payment shall be deemed Tenant’s acceptance and approval of the work furnished and/or the materials supplied as set forth in Tenant’s payment request. Within forty-five (45) days thereafter, Landlord shall deliver a check to Tenant made payable to Tenant in payment of the lesser of: (A) the amounts so requested by “tenant as set forth in this Section 2.2.3.1, above (or, subject to the terms of Section 4.2.1, below, a percentage thereof), and (B) the balance of any remaining available portion of the Tenant Improvement Allowance, provided that Landlord does not dispute any request for payment based on non-compliance of any work with the “Approved Working Drawings,” as that term is defined in Section 3.5 below, or due to any substandard work. Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work furnished or materials supplied as set forth in Tenant’s payment request.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Disbursement of Funds to Eligible Grantees Funds will be disbursed monthly, in arrears.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account. (b) The Trustee shall establish and maintain on behalf of the Certificateholders a Special Payments Account as one or more accounts, which shall be non-interest bearing except as provided in Section 4.

  • Interest for Account of Swing Line Lender The Swing Line Lender shall be responsible for invoicing the Borrower for interest on the Swing Line Loans. Until each Lender funds its Base Rate Committed Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such Applicable Percentage shall be solely for the account of the Swing Line Lender.

  • Disbursement of Loan Proceeds (a) The Trustee, as the agent of the Trust, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the Trust, in a form meeting the requirements of Section 5.02(3) of the Bond Resolution. (b) The Trust and Trustee shall not be required to disburse any Loan proceeds to the Borrower under this Loan Agreement, unless: (i) the proceeds of the Trust Bonds shall be available for disbursement, as determined solely by the Trust; (ii) in accordance with the Bond Act, and the Regulations, the Borrower shall have timely applied for, shall have been awarded and, prior to or simultaneously with the Loan Closing, shall have closed a Fund Loan for a portion of the Allowable Costs (as defined in such Regulations) of the Project in an amount not in excess of the amount of Allowable Costs of the Project financed by the Loan from the Trust; (iii) the Borrower shall have on hand moneys to pay for the greater of (A) that portion of the total Costs of the Project that is not eligible to be funded from the Fund Loan or the Loan, or (B) that portion of the total Costs of the Project that exceeds the actual amounts of the loan commitments made by the State and the Trust, respectively, for the Fund Loan and the Loan; and (iv) no Event of Default nor any event that, with the passage of time or service of notice or both, would constitute an Event of Default shall have occurred and be continuing hereunder.

  • Resignation as L/C Issuer or Swing Line Lender after Assignment Notwithstanding anything to the contrary contained herein, if at any time Bank of America assigns all of its Commitment and Loans pursuant to subsection (b) above, Bank of America may, (i) upon 30 days’ notice to the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 30 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Committed Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”). 12.2 Any transfers by the Borrower to an account held by the Lender within SEPA shall not be subject to any fees.

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