Release of Cash Sample Clauses

Release of Cash. The proceeds of the sales of the Shares underlying the Sale IDRs will first be applied in meeting the broker expenses of procuring that sale, and the balance will be distributed to the IDR Holders by the Domestic Depository. These sale proceeds will be received by the Domestic Depository in Pounds Sterling. As required by the IDR Terms, the Domestic Depository will convert these proceeds into Indian Rupees, on the basis of the Pounds Sterling/ Indian Rupees rate of exchange as on the date of conversion, as per the RBI closing date. The Domestic Depository shall thereafter distribute the sale proceeds to the relevant IDR Holders, calculated at the average price of all Shares sold on the LSE, in proportion to the Sale IDRs held by them. The proportionate net proceeds shall be distributed by the Domestic Depository to the relevant IDR Holders (as per the list provided by the Securities Depositories and the Registrar on the Sale Record Date) by way of transfer to the respective bank accounts of the IDR Holders/issuance of a demand draft, details of which are available with the Domestic Depository and/or the Registrar, tentatively, within fifteen (15) Business Days from the date of sale of all Shares. In case the bank account details of an IDR Holder are not available with the Domestic Depository and/or the Registrar or if the Domestic Depository is not able to transfer the proceeds to such bank account of the IDR Holder of which it has the details, the Domestic Depository shall send a communication to such IDR Holders (where the communication details are available) requesting for details of their respective bank accounts to which net proceeds may be transferred or for which a demand draft may be issued. The Registrar shall inform the concerned IDR Holder about the number of Sale IDRs for which underlying Shares were offered for sale on the LSE and purchased thereon, and the consequent cancellation of such Sale IDRs.
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Release of Cash. Unless (x) a Notice of Exclusive Control or a BBD Notice is in effect or (y) the Administrative Agent gives written notice to the Collateral Administrator and the Borrower that the conditions of this Paragraph 6(c) have not been met, the Collateral Administrator shall release and deliver cash from the Collateral Account (i) in connection with the payment of the purchase price of any Asset against Delivery of such Asset to the Collateral Account, (ii) as directed by the Borrower or the Investment Adviser to purchase Cash Equivalents to be credited to the Collateral Account, (iii) to the Administrative Agent or any Lender to pay any Obligation in accordance with the Credit Agreement (provided that the Collateral Administrator may release cash pursuant to this clause (iii) notwithstanding any BBD Notice) and (iv) in an amount not to exceed the amount of Excess Cash stated in the most recent Daily Report upon written notice from the Borrower, (1) in which the Borrower certifies that no Borrowing Base Deficiency will exist and no Default under the Credit Agreement will occur or be continuing after giving effect to such release and delivery (2) stating the amount of cash to be released and delivered and (3) received by the Collateral Administrator and the Administrative Agent prior to 11:00 a.m. 1:00 p.m. one Business Day before such release and delivery. In the case of the purchase of any Collateral Asset, the release of cash from the Collateral Account shall also be subject to the Collateral Administrator’s prior or simultaneous receipt of the Required Collateral Documents. For all releases of cash, the Borrower shall observe all applicable Delaware company formalities and otherwise comply with the Special Purpose Entity Requirements listed in Annex D of the Credit Agreement in all respects and upon the request of the Administrative Agent, the Borrower shall provide reasonable evidence of such compliance.
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Release of Cash. 8.9.1 If the Purchaser has presented a claim under this Agreement in accordance with Section 8.5 above and the Sellers have not exercised their right to remedy the subject matter of such claim pursuant to Section 8.3.2 above or disputed such claim within forty-five (45) Business Days from receipt of such notice, the Parties shall within an additional ten (10) Business Days period, jointly instruct the Escrow Bank to transfer from Escrow Account 1 an amount equal to the amount of such claim to the Purchaser, if and to the extent such amount is available on Escrow Account 1. If the Sellers dispute the claim during such forty-five (45) Business Days period, such dispute shall be resolved and finally settled by arbitration pursuant to Section 13.2 below. Upon final resolution and settlement of such dispute by the arbitrators, the Purchaser shall be entitled to instruct the Escrow Bank in accordance with the Escrow Agreements to transfer to the Purchaser from the Escrow Account an amount equal to the amount which the Purchaser is entitled to pursuant to such final arbitral award, if and to the extent such amount is available on Escrow Account 1. 8.9.2 The Parties agree that (i) On the first (1st) anniversary of this Agreement, an amount equal to USD 1,000,000 shall be released from Escrow Account 1 to the Sellers in accordance with the Escrow Agreements under condition that no claims has been presented before such date by the Purchaser in accordance with Section 8.5 above. (ii) Should claims indicating Losses not exceeding USD 1,000,000 have been presented by the Purchaser before the first (1st) anniversary of this Agreement in accordance with Section 8.5 above, an amount equal to USD 1,000,000 less the claimed amount shall be released from Escrow Account 1 in accordance with the Escrow Agreements.
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Release of Cash. 6.4.1 The principal value of the cash held in Escrow (ignoring any Income thereon) shall be used for the purpose of determining the Escrow Amount to be released in satisfaction of any claim. 6.4.2 All principal Escrow Amounts released from the Escrow to the Purchaser shall be paid in cash in USD. 6.4.3 In the event that any principal Escrow Amount is due to be released to the Parent, any Income accrued on the principal Escrow Amount so released to the Parent shall also be released to the Parent.
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Related to Release of Cash

  • Release of Deposit If DSI does not receive Contrary Instructions from the Depositor, DSI is authorized to release the Deposit Materials to the Preferred Beneficiary or, if more than one beneficiary is registered to the deposit, to release a copy of the Deposit Materials to the Preferred Beneficiary. However, DSI is entitled to receive any fees due DSI before making the release. Any copying expense in excess of $300 will be chargeable to Preferred Beneficiary. This Agreement will terminate upon the release of the Deposit Materials held by DSI.

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Release of Funds On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest on the Notes will become due and payable and that interest on the Notes will cease to accrue from and after the Redemption Date, unless the Issuer fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Collateral from the Lien of this Indenture and release to the Issuer or any other Person entitled to funds then in the Bank Accounts under this Indenture according to Section 8.4(c).

  • Release of D&O Lock-up Period If the Representative, in its sole discretion, agrees to release or waive the restrictions set forth in the Lock-Up Agreements described in Section 2.24 hereof for an officer or director of the Company and provide the Company with notice of the impending release or waiver at least three (3) Business Days before the effective date of the release or waiver, the Company agrees to announce the impending release or waiver by a press release substantially in the form of Exhibit C hereto through a major news service at least two (2) Business Days before the effective date of the release or waiver.

  • Release of a Guarantor (a) Upon (i) the sale or disposition of the Capital Stock of a Guarantor (other than the Company) by the Company in compliance with Section 4.16 or the consolidation or merger of a Guarantor with or into any Person in compliance with Article 5, in each case, (A) other than to the Company or a Restricted Subsidiary of the Company and (B) in a transaction following which the applicable Guarantor is no longer a Restricted Subsidiary or (ii) the liquidation or dissolution of any Guarantor (other than the Company) in accordance with this Indenture, such Guarantor’s Guarantee pursuant to this Article 10 shall be released, and such Guarantor shall be deemed released from all Obligations under this Indenture and the Securities without any further action required on the part of the Trustee or any Holder. Any Guarantor not so released or the entity surviving such Guarantor, as applicable, shall remain or be liable under its Guarantee as provided in this Article 10. Concurrently with the defeasance or satisfaction and discharge of the Securities under Article 8 hereof, the Guarantors shall be released from all of their obligations under this Indenture and the Securities. In addition, a Guarantor’s Guarantee will also be released and such Guarantor will also be released from all Obligations under this Indenture and the Securities (x) (1) if such Guarantor is released from any and all guarantees of Indebtedness of the Issuer and the Company and (2) if such Guarantor will remain a Subsidiary of the Company, it has no other outstanding Indebtedness other than Indebtedness which could be incurred by a Restricted Subsidiary that is not a Guarantor of the Securities on the date of the proposed release of such Guarantor’s Guarantee, (y) if the Company designates such Guarantor to be an Unrestricted Subsidiary in accordance with Section 4.03 and the definition of “Unrestricted Subsidiary” or (z) the Issuer exercises its Legal Defeasance option or Covenant Defeasance option as described in Section 8.02 or if the Issuer’s obligations under this Indenture are discharged in accordance with the terms hereof. (b) The Trustee shall deliver an appropriate instrument evidencing the release of a Guarantor upon receipt of a request by the Issuer or such Guarantor accompanied by an Officer’s Certificate of the Issuer and, upon written request, an Opinion of Counsel certifying as to the compliance with this Section 10.04; provided the legal counsel delivering such Opinion of Counsel may rely as to matters of fact on one or more Officer’s Certificates of the Issuer. The Trustee shall execute any documents reasonably requested by the Issuer or a Guarantor in order to evidence the release of such Guarantor from its Obligations under its Guarantee pursuant to this Article 10. Except as set forth in Articles 4 and 5 and this Section 10.04, nothing contained in this Indenture or in any of the Securities shall prevent any consolidation or merger of a Guarantor with or into the Issuer or another Guarantor or shall prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the Issuer or another Guarantor.

  • Release of Deposits Escrow Agent will make available for electronic download (unless otherwise requested) to ICANN or its designee, within twenty-­‐four (24) hours, at the Registry Operator’s expense, all Deposits in Escrow Agent’s possession in the event that the Escrow Agent receives a request from Registry Operator to effect such delivery to ICANN, or receives one of the following written notices by ICANN stating that: 6.1. the Registry Agreement has expired without renewal, or been terminated; or 6.2. ICANN has not received a notification as described in Part B, Sections 7.1 and

  • Release of Collateral, etc Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Liabilities;

  • Release Time a. Each mentor teacher shall be granted release time for direct mentoring activities. Release time shall be separate from any other release time covered under this agreement and shall be coordinated by the building administrator.

  • Release of the Company Executive, for himself, his successors, assigns, attorneys, and all those entitled to assert his rights, now and forever hereby releases and discharges the Company and its respective officers, directors, stockholders, trustees, employees, agents, parent corporations, subsidiaries, affiliates, estates, successors, assigns and attorneys (the “Released Parties”), from any and all claims, actions, causes of action, sums of money due, suits, debts, liens, covenants, contracts, obligations, costs, expenses, damages, judgments, agreements, promises, demands, claims for attorney’s fees and costs, or liabilities whatsoever, in law or in equity, which Executive ever had or now has against the Released Parties arising by reason of or in any way connected with any employment relationship which existed between the Company or any of its parents, subsidiaries, affiliates, or predecessors, and Executive. It is understood and agreed that this Release is intended to cover all actions, causes of action, claims or demands for any damage, loss or injury arising from the aforesaid employment relationship, or the termination of that relationship, that Executive has, had or purports to have, from the beginning of time to the date of this Release, whether known or unknown, that now exists related to the aforesaid employment relationship including but not limited to claims for employment discrimination under federal or state law, except as provided in Paragraph 2; claims arising under Title VII of the Civil Rights Act, 42 U.S.C. § 2002(e), et seq. or the Americans With Xxxxxxxxxxxx Xxx, 00 X.X.X. § 00000 et seq.; claims for statutory or common law wrongful discharge, including any claims arising under the Fair Labor Standards Act, 29 U.S.C. § 201 et seq.; claims for attorney’s fees, expenses and costs; claims for defamation; claims for wages or vacation pay; claims for benefits, including any claims arising under the Employee Retirement Income Security Act, 29 U.S.C. § 1001, et seq.; and provided, however, that nothing herein shall release the Company of their obligations to Executive under the Employment Agreement or any other contractual obligations between the Company or its affiliates and Executive, or any indemnification obligations to Executive under the Company’s bylaws, articles of incorporation, Florida law or otherwise.

  • Paid Release Time Union stewards and officers will be granted a reasonable amount of time during their normal working hours to investigate and process grievances in accordance with Article 30,

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