PROCEDURE FOR DISBURSEMENTS Sample Clauses

PROCEDURE FOR DISBURSEMENTS. Subject to all of the terms and provisions of this Loan Agreement, Disbursements under the Loan shall be in accordance with the following:
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PROCEDURE FOR DISBURSEMENTS. Each disbursement of principal under the Term Loan (each, a “Disbursement”) shall be conditioned upon receipt by Lender from Borrower of a written request executed by an Authorized Officer, provided that Lender may, at its discretion, make a Disbursement upon the oral request of Borrower made by an Authorized Officer, or upon a request transmitted to Lender by telephone facsimile (“fax”) machine, or by any other form of written electronic communication (all such requests for Disbursements being hereafter referred to as “informal requests”). In so doing, Lender may rely on any informal request which shall have been received by it in good faith from a person reasonably believed to be an Authorized Officer. Each informal request shall be promptly confirmed by a duly executed written request if Lender so requires and shall in and of itself constitute the representation of Borrower that no Event of Default or Unmatured Event of Default has occurred and is continuing or would result from the making of the requested Disbursement and that the making of the requested Disbursement shall not cause the principal balance of the Term Loan to exceed Term Loan Commitment. No Disbursements will be made under the Term Loan after the Conversion Date. Each Disbursement under the Term Loan will be in a minimum amount of $1,000,000. Upon receipt of a request for a Disbursement, or at Lender’s discretion upon receipt of an informal request for a Disbursement and upon compliance with any other conditions of lending stated in this Agreement, Lender shall disburse the amount of the requested Disbursement to Borrower. All Disbursements by Lender and payments by Borrower shall be recorded by Lender on its books and records, and the principal amount outstanding from time to time, plus interest payable thereon, shall be determined by reference to the books and records of Lender. Lender’s books and records shall be presumed prima facie to be correct as to such matters, absent manifest error. Notwithstanding the foregoing, any formal or informal requests for a Disbursement shall be made at least two (2) days prior to the requested Disbursement Date.
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PROCEDURE FOR DISBURSEMENTS. Advance requests shall be made in writing and signed by Xxxxxxx Xxxxxx or Xxxx Xxxxxx, the President and Chief Financial officer of Spitz respectively, or such other officers and/or employees of Spitz as Spitz may from time to time authorize. Spitz must deliver to Bank written notice one (1) business day in advance of making any request for an advance of Twenty-Five Thousand ($25,000.00) Dollars or more. Further, Bank, in its sole and absolute discretion, may refuse to honor any request for an advance made by any person or entity other than Spitz notwithstanding any power or authority granted such person or entity by Spitz, unless Spitz has secured Bank's prior written acknowledgment and consent to the granting of such power or authority. Advances of available funds under the Loan (after any initial advance at the time of closing) shall be advanced to Spitz upon request and deposited into Spitz's account with Bank.
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PROCEDURE FOR DISBURSEMENTS. 28 Section 3.8 Conditions Precedent to Disbursements.................. 28 Section 3.9
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PROCEDURE FOR DISBURSEMENTS. (a) On each Business Day, the Borrower may either (i) submit to the Lender a Draw Request Certification requesting that proceeds of the Loan be disbursed on such Business Day, or (ii) telephone the Lender to request the disbursement of proceeds of the Loan on such Business Day, which such oral request shall be followed immediately thereafter by submission of the Draw Request Certification. Oral requests received by the Lender at or before 12:00 noon (Minneapolis time), followed by the submission of the Draw Request Certification by 1:00 p.m. (Minneapolis time) on such date, shall be reviewed by the Lender on the Business Day of receipt and the Lender shall wire proceeds of the Loan, in the amount determined by Lender to be appropriate, to the Disbursement Account no later than 2:00 p.m. (Minneapolis time) on such Business Day. Draw Request Certifications received by the Lender after 1:00 p.m. (Minneapolis time) shall be reviewed by the Lender on the next Business Day following receipt and the Lender shall wire proceeds of the Loan, in the amount determined by Lender to be appropriate, to the Disbursement Account on such Business Day.
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PROCEDURE FOR DISBURSEMENTS. Advance requests shall be made in writing and signed by Xxxxxxxx Xxxx, Xxxx Xxxxxx, or Xxxxx Xxxxxxxx or such other officers and/or employees of Borrower as Borrower may from time to time authorize and are approved by Lender. Further, Lender, in its sole and absolute discretion, may refuse to honor any request for an advance made by any person or entity other than Borrower notwithstanding any power or authority granted such person or entity by Borrower, unless Borrower has secured Lender’s prior written acknowledgment and consent to the granting of such power or authority. Advances of available funds under the Loan shall be deposited into Borrower’s account with Lender unless otherwise requested by Borrower and approved by Lender.
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PROCEDURE FOR DISBURSEMENTS. Ten (10) days prior to each Interest Payment Date, the Company shall deliver an Interest Disbursement Request to the Trustee specifying the amount required to be paid upon and the Interest Payment Date for which such amount is due and payable. Upon receipt of the Interest Disbursement Request, on or prior to the Interest Payment Date, the Trustee shall liquidate a sufficient number of the Government Securities held in the Interest Reserve Account to realize the amount required to be paid to the holders of the Senior Notes specified in the Interest Disbursement Request as due and payable on such Interest Payment Date. On the Interest Payment Date, the
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PROCEDURE FOR DISBURSEMENTS. The Eligible Recipients shall receive disbursements from the Homeless Assistance Fund to pay Allowable Costs upon written request to Concord, accompanied by documentation: (i) that the requesting Eligible Recipient is in good legal and financial standing, has duly authorized the request for funding and the proposed activity to be funded and commits to utilize the requested funds to pay Allowable Costs; (ii) that the application for funding and the requested funding amount are approved by the Collaborative; and (iii) that the project or program proposed to be funded from the Homeless Assistance Fund is economically feasible and efficiently leverages all other available sources of funding. All applications for funding from the Homeless Assistance Fund received by Concord without documentation of Collaborative approval shall be referred to the Collaborative for comment and recommendation. Concord shall diligently process funding applications and disburse requested funds upon a determination that funding requirements set forth above have been satisfied and that the funding requested is reasonable in light of other anticipated requests for funding from the Homeless Assistance Fund, all as reasonably determined by Concord. Concord shall condition disbursements from the Homeless Assistance Fund on execution of covenants or agreements with a minimum term of fifty- five (55) years, enforceable by Concord and recorded, where appropriate, requiring timely use of Homeless Assistance Fund disbursements for Allowable Costs, continuing use for the benefit of Homeless Persons, and compliance monitoring by Concord ("Homeless Use Covenants") and providing for specific enforcement and/or recovery of funds by Concord in the event of lack of compliance with the Homeless Use Covenants. The Homeless Use Covenants shall include commercially reasonable subordination language to protect lenders' rights, subject to compliance with the Enabling Acts.
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Related to PROCEDURE FOR DISBURSEMENTS

  • Procedure for Advances (a) During the Reinvestment Period, the Lenders will make Advances on any Business Day at the request of the Borrower, subject to and in accordance with the terms and conditions of Sections 2.01 and 2.02 and subject to the provisions of Article III hereof.

  • Procedure for Loans Company Agent may by written notice request a borrowing of Loans prior to 12:00 noon (New York time) on the Business Day of its request to incur, on the next Business Day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company Agent shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit B attached hereto, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company Agent together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to the Companies’ account on Laurus’ books. The proceeds of each Loan made by Laurus shall be made available to Company Agent on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to the applicable Company’s operating account maintained with such bank as Company Agent designated to Laurus. Any and all Obligations due and owing hereunder may be charged to the Companies’ account and shall constitute Loans.

  • Procedure for Payment Whenever a payment for fractional Rights, Preferred Shares or Common Shares is to be made by the Rights Agent pursuant to this Agreement, the Company will (i) promptly prepare and deliver to the Rights Agent a certificate setting forth in reasonable detail the facts related to such payment and the prices or formulas utilized in calculating such payments; and (ii) provide sufficient monies to the Rights Agent to make such payments. The Rights Agent will be fully protected in relying upon such certificate and will have no duty with respect thereto, and will not be deemed to have knowledge of any payment for fractional Rights, Preferred Shares or Common Shares pursuant to this Agreement unless and until the Rights Agent has received such certificate and sufficient monies.

  • Procedure for Discrepancies Agent shall follow its regular procedures to attempt to reconcile any discrepancies between the number of shares of Additional Common Stock that any Subscription Form may indicate are to be issued to a stockholder upon the exercise of the Rights and the number that the Record Stockholders List indicates may be issued to such stockholder. In any instance where Agent cannot reconcile such discrepancies by following such procedures, Agent will consult with Company for instructions as to the number of shares of Additional Common Stock, if any, Agent is authorized to issue. In the absence of such instructions, Agent is authorized not to issue any shares of Additional Common Stock to such stockholder and will return to the subscribing stockholder (at Agent’s option by either first class mail under a blanket surety bond or insurance protecting Agent and Company from losses or liabilities arising out of the non-receipt or non-delivery of the Subscription Form or by registered mail insured separately for the value of the applicable Rights) to such stockholder’s address as set forth in the Subscription Form, any Subscription Form delivered to Agent, any other documents delivered therewith and a letter explaining the reason for the return of such documents.

  • Procedure for Borrowings The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Borrowing substantially in the form of Exhibit 2.3 (a “Notice of Borrowing”) (x) prior to 11:00 a.m. (New York time) one (1) Business Day prior to the requested date of each Base Rate Borrowing and (y) prior to 11:00 a.m. (New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Loan comprising such Borrowing and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans made pursuant to Section 2.4 may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding exceed six. Promptly following the receipt of a Notice of Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Loan to be made as part of the requested Borrowing.

  • Procedure for Borrowing The Borrower may borrow under the Commitments during the Commitment Period on any Business Day, provided that the Borrower shall give the Administrative Agent irrevocable notice, which notice must be executed by a Responsible Officer of the Borrower and received by the Administrative Agent prior to (a) 11:00 A.M., New York City time, two Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) 12:00 Noon, New York City time, on the requested Borrowing Date, in the case of ABR Loans. Each such notice shall specify (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of Eurodollar Loans, ABR Loans, or a combination thereof and (iv) if the borrowing is to be entirely or partly of Eurodollar Loans, the respective lengths of the initial Interest Periods therefor. Each borrowing under the Commitments shall be in an amount equal to (x) in the case of ABR Loans, $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (y) in the case of Eurodollar Loans, $10,000,000 or a whole multiple of $1,000,000 in excess thereof; provided that (i) a borrowing under the Commitments that is an ABR Loan may be in any aggregate amount that is required to finance the reimbursement of all or a part of an LC Disbursement as contemplated by Section 3.5 and (ii) any Swingline Lender may request, on behalf of the Borrower, borrowings of ABR Loans in other amounts pursuant to Section 2.20(b). Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Lender thereof. Each Lender will make the amount of its pro rata share of each borrowing available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 9.2 prior to 1:00 P.M., New York City time, on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. Such borrowing will then be made available to the Borrower by the Administrative Agent crediting the account of the Borrower on the books of such office with the aggregate of the amounts made available to the Administrative Agent by the Lenders promptly upon receipt thereof and in like funds as received by the Administrative Agent; provided that (x) Loans made to finance the reimbursement of an LC Disbursement as provided in Section 3.5 shall be remitted by the Administrative Agent to the applicable Issuing Lender and (y) Loans made to finance the reimbursement of a Swingline Loan as provided in Section 2.20(b) shall be remitted by the Administrative Agent to the applicable Swingline Lender. Swingline Loans shall be made as provided in Section 2.19.

  • Procedure for Deficient Items 8.1 Agent shall examine the Subscription Form(s) received by it as agent to ascertain whether they appear to have been completed and executed in accordance with the Subscription Offer. In the event that Agent determines that any Subscription Form does not appear to have been properly completed or executed, or to be in proper form, or any other deficiency in connection with the Subscription Form appears to exist, Agent shall follow, where possible, its regular procedures to attempt to cause such irregularity to be corrected. Agent is not authorized to waive any deficiency in connection with the Subscription, unless Company provides written authorization to waive such deficiency.

  • Procedure for Claims (a) Any person who desires to seek indemnification under any part of this Section 18 (each, an “Indemnified Party”) shall give written notice in reasonable detail (a “Claim Notice”) to each party responsible or alleged to be responsible for indemnification hereunder (an “Indemnitor”) and the Deposit Holder prior to any applicable Expiration Date (as defined below). Such notice shall briefly explain the nature of the claim and the parties known to be invoked, and shall specify the amount thereof. If the matter to which a claim relates shall not have been resolved as of the date of the Claim Notice, the Indemnified Party shall estimate the amount of the claim in the Claim Notice, but also specify therein that the claim has not yet been liquidated (an “Unliquidated Claim”). If an Indemnified Party gives a Claim Notice for an Unliquidated Claim, the Indemnified Party shall also give a second Claim Notice (the “Liquidated Claim Notice”) within 60 days after the matter giving rise to the claim becomes finally resolved, and the second Claim Notice shall specify the amount of the claim. Each Indemnitor to which a Claim Notice is given shall respond to any Indemnified Party that has given a Claim Notice (a “Claim Response”) within 30 days (the “Response Period”) after the later of (i) the date that the Claim Notice is given or (ii) if a Claim Notice is first given with respect to an Unliquidated Claim, the date on which the Liquidated Claim Notice is given. Any Claim Response shall specify whether or not the Indemnitor giving the Claim Response disputes the claim described in the Claim Notice. If any Indemnitor fails to give a Claim Response within the Response Period, such Indemnitor shall be deemed not to dispute the claim described in the related Claim Notice. If any Indemnitor elects not to dispute a claim described in a Claim Notice, whether by failing to give a timely Claim Response in accordance with the terms hereof or otherwise, then the amount of such claim shall be conclusively deemed to be an obligation of such Indemnitor.

  • Disbursement Procedure (a) The Borrower may request Additional Disbursements of the Additional Loans during the Availability Period by delivering to IFC, at least 10 Business Days prior to the proposed date of disbursement, an Additional Disbursement request substantially in the form of Schedule 2.

  • Procedure for Revolving Borrowings The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each Revolving Borrowing, substantially in the form of Exhibit 2.3 attached hereto (a “Notice of Revolving Borrowing”), (x) prior to 1:00 p.m. one (1) Business Day prior to the requested date of each Base Rate Borrowing and (y) prior to 1:00 p.m. three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of Revolving Borrowing shall be irrevocable and shall specify (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such Revolving Loan comprising such Borrowing and (iv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each Revolving Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower may request. The aggregate principal amount of each Eurodollar Borrowing shall not be less than $5,000,000 or a larger multiple of $250,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided that Base Rate Loans made pursuant to Section 2.4 or Section 2.22(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings outstanding at any time exceed eight (8). Promptly following the receipt of a Notice of Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each Lender of the details thereof and the amount of such Lender’s Revolving Loan to be made as part of the requested Revolving Borrowing.

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