Final Disbursement of Funds Following Operating Date Sample Clauses

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...
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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. 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 (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.
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Final Disbursement of Funds Following Operating Date 
Sample 1

Related to Final Disbursement of Funds Following Operating Date

  • Disbursement of Funds No later than 1:00 p.m. (local time at the place of funding) on the date specified in each Notice of Borrowing, each Lender will make available its Pro Rata Share of Loans, to fund the Borrowing requested to be made on such date in Dollars, Euro or Sterling, as the case may be, and in immediately available funds, at the Payment Office (for the account of such non-U.S. office of the Administrative Agent as the Administrative Agent may direct in the case of Eurocurrency Loans) and the Administrative Agent will make available to the Borrower at its Payment Office the aggregate of the amounts so made available by the Lenders not later than 2:00 p.m. (local time in the place of payment). Unless the Administrative Agent shall have been notified by any Lender at least one Business Day prior to the date of Borrowing that such Lender does not intend to make available to the Administrative Agent such Lender’s portion of the Borrowing 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 may, but shall not be required to, in reliance upon such assumption, 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 on the date of Borrowing, the Administrative Agent shall be entitled to recover such corresponding amount on demand 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, if so notified, the Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from 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 the rate for Base Rate Loans or Eurocurrency Loans, applicable to the Type of Loan to which such corresponding amount related, for the period in question; provided, however, that any interest paid to the Administrative Agent in respect of such corresponding amount shall be credited against interest payable by the Borrower to such Lender under Section 3.1 in respect of such corresponding amount. Any amount due hereunder to the Administrative Agent from any Lender which is not paid when due shall bear interest payable by such Lender, from the date due until the date paid, at the Federal Funds Rate for amounts in Dollars (and at the Administrative Agent’s cost of funds for amounts in Euros or Sterling or any other Alternative Currency) for the first three days after the date such amount is due and thereafter at the Federal Funds Rate (or such cost of funds rate) plus 1%, together with the Administrative Agent’s standard interbank processing fee. Further, such Lender shall be deemed to have assigned any and all payments made of principal and interest on its Loans, amounts due with respect to its Letters of Credit (or its participations therein) and any other amounts due to it hereunder first to the Administrative Agent to fund any outstanding Loans made available on behalf of such Lender by the Administrative Agent pursuant to this Section 2.7 until such Loans have been funded (as a result of such assignment or otherwise) and then to fund Loans of all Lenders other than such Lender until each Lender has outstanding Loans equal to its Pro Rata Share of all Loans (as a result of such assignment or otherwise). Such Lender shall not have recourse against the Borrower with respect to any amounts paid to the Administrative Agent or any Lender with respect to the preceding sentence; provided, that such Lender shall have full recourse against the Borrower to the extent of the amount of such Loans such Lender has been deemed to have made pursuant to the preceding sentence. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment hereunder or to prejudice any rights which the Borrower may have against the Lender as a result of any default by such Lender hereunder.

  • Disbursements from Escrow Funds to Pay NCPS NCPS is authorized to and may disburse from time to time, to itself or to any Indemnified Party from the Escrow Funds (but only to the extent of Issuer’s rights thereto), the amount of any compensation and reimbursement of out-of-pocket expenses due and payable hereunder (including any amount to which NCPS or any Indemnified Party is entitled to seek indemnification pursuant to Section 9 hereof). NCPS shall notify Issuer of any disbursement from the Escrow Funds to itself or to any Indemnified Party in respect of any compensation or reimbursement hereunder and shall furnish to Issuer copies of all related invoices and other statements. Such disbursements will not occur before the minimum contingency is met in compliance with SEC Rule 15c2-4.

  • 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.

  • Disbursements from Escrow Funds to Pay Escrow Agent The Escrow Agent is authorized to and may disburse from time to time, to itself or to any Indemnified Party from the Escrow Funds (but only to the extent of Issuer’s rights thereto), the amount of any compensation and reimbursement of out-of-pocket expenses due and payable hereunder (including any amount to which Escrow Agent or any Indemnified Party is entitled to seek indemnification pursuant to Section 9 hereof). Escrow Agent shall notify Issuer of any disbursement from the Escrow Funds to itself or to any Indemnified Party in respect of any compensation or reimbursement hereunder and shall furnish to Issuer copies of all related invoices and other statements.

  • 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.

  • 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.

  • 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 State shall disburse Federal Funds earmarked for the Loan to the Borrower in accordance with the terms hereof. Before each and every disbursement of the proceeds of the Loan by the State to the Borrower, the Borrower shall in accordance with the procedures set forth in the Regulations submit to the State a requisition executed by an Authorized Officer of the Borrower.

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

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