Right To Withdraw Excess Funds. The Buyer shall have the right, whenever the Excess Amount (as defined below) exceeds $500,000, to request that Xxxxxx Xxxxxxx, as the secured party under the Security Agreement, direct the Bank to release to the Buyer an amount (the “Excess Amount”) equal to the excess of the amount in the Controlled Deposit Account over the sum of (i) the Purchase Price (calculated as if the date of the Buyer’s request were a Forward Purchase Closing Date and the date two Business Days prior to the date of such request were a Closing Date) for the purchase of all the Securities the Buyer is then still committed to purchase under this Agreement and (ii) if the Buyer’s request is made prior to the first Forward Purchase Closing Date, the Buyer’s Applicable Percentage Commitment times $45,000.
Right To Withdraw Excess Funds. If upon receipt of the annual status reports regarding the Lender’s Registered Loans the Program Manager determines that the balance in the GCCR Account exceeds the aggregate Gross Loan Amounts of all the Lender’s Registered Loans at that time, the Program Manager may withdraw such excess amount from the GCCR Account. If the Program is terminated by the State pursuant to subparagraph 13(b) or if at any time Lender has no Registered Loans in the Program as determined in accordance with Section 6(g) above, the Program Manager may withdraw the balance remaining in the GCCR Account subject to the requirements of subparagraph 13(b).
