Common use of Loan Disbursement Account Clause in Contracts

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.

Appears in 2 contracts

Samples: Rmi Titanium Co, Rti International Metals Inc

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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 Issuer, the Swingline Lender 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.

Appears in 1 contract

Samples: Pitt Des Moines Inc

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 ACCOUNTLoan 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 Issuing Bank 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.

Appears in 1 contract

Samples: Credit Agreement (Igate Capital Corp)

Loan Disbursement Account. The Borrower Borrowers 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 ACCOUNTLoan Disbursement Account"), into which proceeds of Revolving Credit Loans, Swingline Loans and other monies transferred to the Borrower Borrowers hereunder shall be deposited from time to time. The Loan Disbursement Account shall be in the name of the Borrower Borrowers and, subject to the other provisions of this Agreement and the other Loan Documents, monies therein shall be disbursed as directed by the BorrowerBorrowers, from time to time. To secure the payment and performance of Lender Obligations, the Borrower Borrowers hereby pledges pledge and assignsassign, and grants grant 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.

Appears in 1 contract

Samples: Credit Agreement (Spectrum Control Inc)

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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 ACCOUNTLoan 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.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Carbide Graphite Group Inc /De/)

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 ACCOUNTLoan 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.

Appears in 1 contract

Samples: Credit Agreement (Mastech Corp)

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