Common use of Sales of Permitted Investments Clause in Contracts

Sales of Permitted Investments. The Administrative Agent will use its reasonable commercial efforts to sell Permitted Investments so that actual cash is available, on each date on which a distribution is to be made pursuant to the terms hereof, for the Administrative Agent to make such distribution in cash on such date. The amount of any check or other instrument which may be deposited in any Account shall not be treated as cash available until the final collection thereof.

Appears in 4 contracts

Samples: Credit Agreement (Flag Telecom Holdings LTD), Credit Agreement (Flag Telecom Holdings LTD), Credit Agreement (Flag Telecom Holdings LTD)

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Sales of Permitted Investments. The Administrative Agent ------------------------------ will use its reasonable commercial efforts to sell Permitted Investments so that actual cash is available, on each date on which a distribution is to be made pursuant to the terms hereofthis Agreement, for the Administrative Agent to make such distribution in cash on such date. The amount of any check or other instrument which may be deposited in any Account shall not be treated as cash available until the final collection thereof.

Appears in 1 contract

Samples: Credit Agreement (Global Crossing LTD)

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Sales of Permitted Investments. The Administrative Agent ------------------------------ will use its reasonable commercial efforts to sell Permitted Investments so that actual cash is available, on each date on which a distribution is to be made pursuant to the terms hereofthis Agreement, for the Administrative Agent to make such distribution in cash on such date. The amount of any check or other instrument which may be deposited in any Account shall not be treated as cash available amounts on deposit until the final collection thereof.

Appears in 1 contract

Samples: Credit Agreement (Globenet Communications Group LTD)

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