Proceeds of Sale of Notes. Proceeds received in payment for Notes are to be in immediately available funds and shall be immediately credited to an account designated in writing by the Issuer to the Issuing and Paying Agent and maintained by the Issuer. Subject to the availability of funds, upon receipt of instructions from an Authorized Representative of the Issuer, proceeds from the sale of Notes may, prior to the time such proceeds are received, be used in payment of the principal of, and premium, if any, and interest on, other Notes of the Issuer presented for payment on the Maturity Date or any earlier date on which the principal thereof is due and payable, or be transferred for credit to the account of the Issuer at another bank.
Appears in 4 contracts
Samples: Issuing and Paying Agency Agreement (Independent Bank Corp), Issuing and Paying Agency Agreement (Univest Corp of Pennsylvania), Issuing and Paying Agency Agreement (Univest Corp of Pennsylvania)
Proceeds of Sale of Notes. Proceeds received in payment for the Notes are to be in immediately available funds and shall be immediately credited to an account designated in writing by the Issuer to the Issuing and Paying Agent and the Note Registrar and maintained by the Issuer. Subject to the availability of funds, upon receipt of instructions from an Authorized Representative of the Issuer, proceeds from the sale of Notes may, prior to the time such proceeds are received, be used in payment of the principal of, and premium, if any, and interest on, other Notes of the Issuer presented for payment on the Maturity Date or any earlier date on which the principal thereof is due and payable, or be transferred for credit to the account of the Issuer at another bank.
Appears in 3 contracts
Samples: Issuing and Paying Agency Agreement (First Commonwealth Financial Corp /Pa/), Issuing and Paying Agency Agreement (Sterling Bancorp), Issuing and Paying Agency Agreement (Sterling Bancorp)
Proceeds of Sale of Notes. Proceeds received in payment for Notes are to be in immediately available funds and shall be immediately credited to an account designated in writing by the Issuer to the Issuing and Paying Agent and maintained by the Issuer. Subject to the availability of funds, funds upon receipt of instructions from an Authorized Representative of the IssuerRepresentative, proceeds from the sale of Notes may, prior to the time such proceeds are received, be used in payment of the principal of, and premium, if any, and interest on, other Notes of the Issuer presented for payment on the Maturity Date or any earlier date on which the principal thereof is due and payable, or be transferred for credit to the account of the Issuer at another bank.
Appears in 1 contract
Samples: Issuing and Paying Agency Agreement (Atlantic Capital Bancshares, Inc.)
