Release on Funding Dates Sample Clauses

Release on Funding Dates. Three (3) days prior to any proposed Funding Date (as defined in the Purchase Agreement), the Company shall deliver to the Custodian a certificate of the Company including a request for funds not to exceed the monthly funding caps set forth on Exhibit D to the Purchase Agreement. The amount of the monthly funding caps shall be increased, each month, by the aggregate amount the funding caps in previous months exceeded the amount actually funded in such months. Such certificate shall include a resolution of a committee of disinterested directors requesting the funds and shall provide in reasonable detail the information set forth on Exhibit E to the Purchase Agreement. After receipt of such request from the Company, the Custodian shall be obligated (in the absence of a veto exercised by Purchasers holding at least 66 2/3% of the principal value of the Debentures) to provide the requested funds to the Company out of the Secured Proceeds (not to exceed $3,000,000 in the aggregate) on the Funding Date which shall be no later than three (3) Business Days after the receipt by the Custodian of the Company’s request for additional proceeds. No requests for funding may be made after June 30, 2006. If at any time the Company has not requested funds from the Escrow Account for more than forty-five (45) days or at any time after a Funding Date in May 2006, any Purchaser may deliver notice to the Company, the Purchasers and the Custodial Agent requesting the return of all funds held in the Escrow Account to the Purchasers according to their respective pro rata share of the funds in the Escrow Account (a “Return Request”). The return of the funds held in the Escrow Account to the Purchasers shall be deemed a repayment of such amount under the Debentures and shall be applied to reduce amounts due and owing to the Purchasers as follows: first, to the payment of fees and expenses including liquidated damages; second, to interest payable in cash; and third, to the outstanding principal. In the event the Company requires funds in excess of the amount set forth on Exhibit D, the Custodian shall be permitted, in the absence of a veto exercised by Purchasers holding 66 2/3% of the principal value of the Debentures, to provide the Company such funds not to exceed $500,000 in the aggregate. Upon fulfillment of the foregoing conditions, the Custodian shall release, to the account of the Company that portion of the Secured Proceeds specified in the Company’s request for funds. If le...
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Related to Release on Funding Dates

  • Payment of Amounts Drawn Under Letters of Credit In the event of any request for drawing under any Letter of Credit by the beneficiary thereof, the Issuing Bank shall notify the Applicable Borrower and the Administrative Agent on or before the date on which such Issuing Bank intends to honor such drawing, and the Applicable Borrower shall reimburse such Issuing Bank on the day on which such drawing is honored in an amount in same day funds equal to the amount of and in the same currency as such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless the Applicable Borrower shall have notified the Administrative Agent and such Issuing Bank prior to Noon (New York time) on the Business Day of the date of such drawing that the Applicable Borrower intends to reimburse such Issuing Bank for the amount of such drawing with funds other than the proceeds of Revolving Loans, the Applicable Borrower shall be deemed to have timely given a Notice of Borrowing to the Administrative Agent requesting the Banks having Revolving Loan Commitments to make Revolving Loans that are Base Rate Loans on the Business Day following the date on which such drawing is honored in an amount equal to the Dollar Equivalent amount of such drawing, and (ii) the Banks shall, on the date of such drawing, make Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by the Administrative Agent to reimburse such Issuing Bank for the Dollar Equivalent amount of such drawing; and further provided that if, for any reason, proceeds of Revolving Loans are not received by such Issuing Bank on such date in an amount equal to the amount of such drawing, such Issuing Bank shall be entitled to reimbursement in accordance with Section 1.04, on the Business Day (which shall be a business day under the laws of the jurisdiction of such Issuing Bank) immediately following the date of such drawing, in an amount in same day funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, that are so received, plus accrued interest on such amount at the rate set forth in Section 1.13(f)(1)(i).

  • Certificateholders May Not Bring Suit Except Under Certain Conditions A Certificateholder shall not have the right to institute any suit, action or proceeding at law or in equity or otherwise with respect to this Agreement, for the appointment of a receiver or for the enforcement of any other remedy under this Agreement, unless:

  • Amendments to the Trust Agreement (a) Subject to the provisions of the Trust Agreement, without the consent of the Holders of any Notes or the Indenture Trustee, the Owner Trustee (at the written direction of the Beneficiary) and the Beneficiary may amend the Trust Agreement so long as such amendment will not have an Adverse Effect and is not reasonably expected to have an Adverse Effect at any time in the future.

  • Limitations on Fundamental Changes Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease, assign, transfer or otherwise dispose of, all or substantially all of its property, business or assets except:

  • Investment of Amounts in Special Payments Account Any amounts on deposit in the Special Payments Account prior to the distribution thereof pursuant to Section 2.4(b) or (c) shall be invested in accordance with Section 2.2(b). Investment Earnings on such investments shall be distributed in accordance with Section 2.4(b) or (c), as the case may be.

  • Limitation on Fundamental Changes Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or Dispose of all or substantially all of its Property or business, except that:

  • Amendments to this Subadvisory Agreement This Subadvisory Agreement may be amended by mutual agreement in writing, subject to approval by the Board of Trustees of the Trust and the Fund’s shareholders to the extent required by the Act.

  • Amendments to Forbearance Agreement The Forbearance Agreement is hereby amended as follows:

  • Distributions Following Acceleration If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

  • Determination Date Calculations; Application of Available Funds (a) On each Determination Date, the Servicer shall calculate the following amounts:

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