Loan Disbursement Account. The Loan Disbursement Account herein shall be determined in accordance with (2):
Loan Disbursement Account. The Borrower shall maintain at all times during this Agreement with the Agent, at the Agent's office in Pittsburgh, Pennsylvania, a demand deposit account (the "LOAN DISBURSEMENT ACCOUNT"), into which proceeds of Revolving Credit Loans, Swingline Loans and other monies transferred to the Borrower hereunder shall be deposited from time to time. The Loan Disbursement Account shall be in the name of the Borrower and, subject to the other provisions of this Agreement and the other Loan Documents, monies therein shall be disbursed as directed by the Borrower, from time to time. To secure the payment and performance of Lender Obligations, the Borrower hereby pledges and assigns, and grants to the Agent for the benefit of the Agent, the L/C Issuer and the Lenders, a lien on and security interest in the Loan Disbursement Account, all funds from time to time deposited or held therein, all interest and other income derived therefrom, and all proceeds of all the foregoing.
Loan Disbursement Account. All Disbursements, irrespective of whether made as reimbursements or advances shall be made to the Borrower's current account with the New York Branch of the Lender.
Loan Disbursement Account. The proceeds of any Advance to the Borrower shall, on the date of such Advance, be deposited in immediately available funds in the Loan Disbursement Account, which shall be a demand deposit account maintained with Lender.
Loan Disbursement Account. On or before the date of this Agreement, Lender shall deposit two-thirds (2/3) of the Tranche A Maximum Amount and two-thirds (2/3) of the Tranche B Maximum Amount into the Loan Disbursement Account. Lender shall establish and maintain the Loan Disbursement Account separate and distinct from Lender’s other accounts and shall not commingle funds in the Loan Disbursement Account with any other funds; provided, however, that Lender may, at any time, deposit all or any portion of the remaining one-third (1/3) of the Tranche A Maximum Amount and/or the remaining one-third (1/3) of the Tranche B Maximum Amount into the Loan Disbursement Account for purposes of funding the Loans. Lender agrees that, so long as this Agreement is in effect, Lender will use the funds deposited into the Loan Disbursement Account solely to fund the Loans as set forth in this Agreement. For avoidance of any doubt, title to the Loan Disbursement Account and the funds therein shall remain property of the Lender subject to this Section 2(r). Notwithstanding anything else in this Section 2(r) to the contrary, upon the expiration or termination of the Commitment Period in accordance with this Agreement, Lender’s obligations under this Section 2(r) shall terminate, and Lender may thereafter transfer and/or dispose of any amounts remaining in the Loan Disbursement Account and/or close the Loan Disbursement Account as Lender deems appropriate in Lender’s sole discretion.
Loan Disbursement Account. Loan Disbursement Account under this Contract shall be determined as specified in (2) below:
Loan Disbursement Account. To induce the Lenders, the Agent, the Documentation Agents and the L/C Issuer to enter into this Agreement and to make available to the Borrower the credit accommodation herein set forth, the Borrower shall maintain at all times during this Agreement with the Agent, at the Agent's office in Pittsburgh, Pennsylvania, a demand deposit account (the "Loan Disbursement Account"), into which proceeds of Revolving Credit Loans, Swingline Loans and other monies transferred to the Borrower hereunder shall be deposited from time to time. The Loan Disbursement Account shall be in the name of the Borrower and, subject to the other provisions of this Agreement and the other Loan Documents, monies therein shall be disbursed as directed by the Borrower, from time to time. To secure the payment and performance of Lender Obligations, the Borrower hereby pledges and assigns, and grants to the Agent for the benefit of the Agent, the L/C Issuer and the Lenders, a lien on and security interest in the Loan Disbursement Account, all funds from time to time deposited or held therein, all interest and other income derived therefrom, and all proceeds of all the foregoing.
Loan Disbursement Account. The Borrower has requested, and the Agent ------------------------- and the Lenders have agreed, that the Loans and any proceeds of each Acceptance discounted pursuant to Section 4.2.1 will be advanced to account no. 00-000-000 ------------- maintained at Bankers Trust Company, 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 in the name of the Borrower (the "Loan Disbursement Account").
Loan Disbursement Account. Prior to the disbursement of the first Revolving Loan after the Effective Date, Borrower shall establish with Administrative Agent an account in the name of a Borrower, which account shall be for the purpose of receiving Revolving Loans and distributing the proceeds thereof to Borrower Member, and for no other purpose (the “Loan Disbursement Account”).
Loan Disbursement Account. The Borrower has requested, and the ------------------------- Agent and the Lenders have agreed, that the Loans and any proceeds of each Acceptance discounted pursuant to Section 4.2 will be advanced to account ----------- no. 00-000-000 maintained at Deutsche Bank, 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 in the name of the Borrower (the "Loan Disbursement Account"). -------------------------
