Release of prepositioned funds Sample Clauses

Release of prepositioned funds. On the Release Date, the Facility Agent (acting on the instructions of the Majority Lenders) shall instruct the Escrow Agent to release the amount of the relevant Advance as specified in the Utilisation Request, subject to the provisions of Clause 4.3 (Conditions precedent to release of the relevant Advance) and Clause 4.4 (Notification of satisfaction of conditions precedent).
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Release of prepositioned funds. The Lender shall, on the Delivery Date (in respect of Tranche B) instruct the Seller’s bank or the Escrow Agent (as applicable) (in respect of Tranche B) to release the relevant Tranche or part thereof to the account of the Seller (in respect of Tranche B) or to such other account subject to the provisions of Clause 4.1 (Initial conditions precedent) and Clause 4.2 (Further conditions precedent) and the Borrowers hereby provide the Lender with unconditional and irrevocable authority to apply funds being pledged in the Earnings Account of Xxxx to an account of the Lender and be applied against repayment in full to the Lender of the Existing Indebtedness.
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Related to Release of prepositioned funds

  • Right to Release Any Portion of the Property Lender may release any portion of the Property for such consideration as Lender may require without, as to the remainder of the Property, in any way impairing or affecting the lien or priority of this Security Instrument, or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder shall have been reduced by the actual monetary consideration, if any, received by Lender for such release, and may accept by assignment, pledge or otherwise any other property in place thereof as Lender may require without being accountable for so doing to any other lienholder. This Security Instrument shall continue as a lien and security interest in the remaining portion of the Property.

  • Action upon Termination, Resignation or Removal Promptly upon the effective date of termination of this Agreement pursuant to the first sentence of Section 1.09 or the resignation or removal of the Administrator pursuant to Section 1.09(a), (b) or (c), respectively, the Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the date of such termination, resignation or removal. The Administrator shall forthwith upon such termination pursuant to the first sentence of Section 1.09 deliver to the Issuer all property and documents of or relating to the Collateral then in the custody of the Administrator. In the event of the resignation or removal of the Administrator pursuant to Section 1.09(a), (b) or (c), respectively, the Administrator shall cooperate with the Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the Administrator.

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