Common use of Payment to Third Parties Clause in Contracts

Payment to Third Parties. The Facility Agent shall, on each Utilisation Date in relation to any Tranche, pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance the amounts which the Facility Agent receives from the Lenders in respect of the Advance. That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the Advance to the account of a Borrower, the Corporate Guarantor or of the relevant Existing Facility Agent under the relevant Existing Facility Agreement which the Borrowers specify in the relevant Utilisation Request.

Appears in 2 contracts

Samples: Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp), Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)

AutoNDA by SimpleDocs

Payment to Third Parties. The Facility Agent shall, on each Utilisation Date in relation to any TrancheDate, pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance the amounts which the Facility Agent receives from the Lenders in respect of the Advance. That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the Advance to the account of a Borrower, the Corporate Guarantor or of the relevant Existing Facility Agent under the relevant Existing Facility Agreement Builder which the Borrowers specify in the relevant Utilisation Request.

Appears in 2 contracts

Samples: Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Ardmore Shipping Corp)

Payment to Third Parties. The Facility Agent shall, on each the Utilisation Date in relation to any TrancheDate, pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance Borrowers the amounts which the Facility Agent receives from the Lenders in respect of the relevant Advance. That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the relevant Advance to the account of a Borrower, the Corporate Guarantor or of which the relevant Existing Facility Agent under the relevant Existing Facility Agreement which the Borrowers specify Borrower specifies in the relevant Utilisation RequestRequest provided that the Lenders have received “know your customer” information in a form acceptable to the Lenders.

Appears in 1 contract

Samples: Term Loan Facility Agreement (Castor Maritime Inc.)

Payment to Third Parties. The Facility Agent shall, on each the Utilisation Date in relation to any TrancheDate, pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance the amounts amount which the Facility Agent receives from the Lenders in respect of the AdvanceLoan. That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the Advance Loan to the account of a Borrower, the Corporate Guarantor or of the relevant Existing Facility Agent under the relevant Existing Facility Agreement which the Borrowers specify Borrower specifies in the relevant Utilisation Request.

Appears in 1 contract

Samples: Term Loan Facility (DryShips Inc.)

AutoNDA by SimpleDocs

Payment to Third Parties. The Facility Agent shall, on each Utilisation Date in relation to any TrancheDate, pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance the amounts which the Facility Agent receives from the Lenders in respect of the that Advance. That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the that Advance to the account of a Borrower, the Corporate Guarantor or of the relevant Existing Facility Agent under the relevant Existing Facility Agreement which the Borrowers specify in the relevant Utilisation Request.

Appears in 1 contract

Samples: Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)

Payment to Third Parties. The Facility Agent shall, on each the Utilisation Date in relation to any TrancheDate, pay to, or for the account of, the relevant Borrower which is to utilise the relevant Advance the amounts which the Facility Agent receives from the Lenders in respect of the Advance. That payment shall be made in like funds as the Facility Agent received from the Lenders in respect of the Advance to the account of a Borrower, the Corporate Guarantor or of the relevant Existing Facility Agent under the relevant Existing Facility Agreement Builder which the Borrowers specify Borrower specifies in the relevant Utilisation Request.

Appears in 1 contract

Samples: Addendum to First Preferred Marshall Islands Mortgage (Ocean Rig UDW Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!