Common use of Withdrawal and Transfers Clause in Contracts

Withdrawal and Transfers. Upon receipt before 11:00 A.M. on a Business Day by Depositary of an Account Withdrawal Instruction pursuant to which Collateral Agent directs the withdrawal of funds from any Account, Depositary shall make such withdrawals and shall apply such funds to the uses and in the amounts specified in such Account Withdrawal Instruction as soon as reasonably practicable, and in any event within the next Business Day after receipt of such Account Withdrawal Instruction.

Appears in 3 contracts

Samples: Depositary Agreement (Bloom Energy Corp), Depositary Agreement (Bloom Energy Corp), Depositary Agreement (Bloom Energy Corp)

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Withdrawal and Transfers. Upon receipt before 11:00 A.M. on a Business Day by Depositary of an Account Withdrawal Instruction pursuant to which Collateral Agent directs the withdrawal of funds from any Account, Depositary shall make such withdrawals and shall apply such funds to the uses and in the amounts specified in such Account Withdrawal Instruction as soon as reasonably practicable, and in any event within the next Business Day [***] after receipt of such Account Withdrawal Instruction.

Appears in 1 contract

Samples: Depositary Agreement (Bloom Energy Corp)

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Withdrawal and Transfers. Upon receipt before 11:00 A.M. on a Business Day by Depositary of an Account Withdrawal Instruction pursuant to which Collateral Agent directs the withdrawal of funds from any Account, Depositary shall make such withdrawals and shall apply such funds to the uses and in the amounts specified in such Account Withdrawal Instruction as soon as reasonably practicable, and in any event within the next Business Day [***] after receipt of such Account Withdrawal Instruction.

Appears in 1 contract

Samples: Depositary Agreement (Bloom Energy Corp)

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