Common use of Permitted Disbursements Clause in Contracts

Permitted Disbursements. In the event that any Permitted Disbursement occurs, the Master Servicer shall on the first Settlement Date immediately following the effectiveness thereof, pay the amount of such Permitted Disbursement directly to a Collection Account (or as otherwise directed by the Administrative Agent at such time) for the benefit of the Secured Parties for application pursuant to Section 2.1.

Permitted Disbursements. In the event that any Permitted Disbursement occurs, the Master Servicer shall on the first Settlement Date immediately following the effectiveness thereof, pay the amount of such Permitted Disbursement directly to a Collection Account (or as otherwise directed by the Administrative Agent at such time) for the benefit of the Secured Parties for application pursuant to Section 2.1.. (x)