Common use of Realisation Clause in Contracts

Realisation. (a) The Relevant Obligors shall ensure that, whenever any Investment Proceeds or Investment Income is received in respect of a Permitted Investment made from amounts standing to the credit of an Account the Investment Proceeds and the Investment Income are either: (i) reinvested in further Permitted Investments; or (ii) paid into the relevant Account from which the Permitted Investment derives. (b) Each Relevant Obligor shall give directions to the relevant Account Bank and otherwise exercise its rights hereunder in such manner as will ensure compliance with the applicable provisions of the Finance Documents with respect to Accounts, Permitted Investments, Investment Proceeds and Investment Income.

Appears in 3 contracts

Samples: Senior Facilities Agreement (Melco Crown Entertainment LTD), Senior Facilities Agreement (Melco Crown Entertainment LTD), Senior Facilities Agreement (Melco PBL Entertainment (Macau) LTD)

AutoNDA by SimpleDocs

Realisation. (a) The Relevant Obligors shall ensure that, whenever any Investment Proceeds or Investment Income is received in respect of a Permitted Investment made from amounts standing to the credit of an Account the Investment Proceeds and the Investment Income are either: (i) reinvested in further Permitted Investments; or (ii) paid into the relevant Account from which the Permitted Investment derives. (b) Each Relevant Obligor shall give directions to the relevant Account Bank and otherwise exercise its rights hereunder in such manner as will ensure compliance with the applicable provisions of the Finance Documents with respect to Accounts, Permitted Investments, Investment Proceeds and Investment Income.

Appears in 1 contract

Samples: Loan Agreement (Melco Crown Entertainment LTD)

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