Direction to Pay definition

Direction to Pay means a letter executed by the Borrower or other applicable Loan Party and delivered to a Licensee (or its agent), substantially in the form of Exhibit G hereto or such other form as shall be reasonably acceptable to the Administrative Agent, which letter provides irrevocable instructions to such Licensee (or its agent) to remit payments due to Borrower or such other Loan Party directly to a Collection Account.

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Direction to Pay means the irrevocable order and direction to pay from the Borrower to EPMI, directing EPMI to pay to EMCLP all amounts owing to the Borrower under the SD PSA;

Direction to Pay means any Payment Agreement, dated as of the Phase 1 Closing Date or the Phase 2 Closing Date, as applicable, between a Borrower, the applicable Master Distributor, the applicable Receivables Sub and the Administrative Agent, in such form as may be reasonably acceptable to the Administrative Agent, as amended, supplemented or otherwise modified, renewed or replaced from time to time, directing such Master Distributor to remit all proceeds of the Collateral (as defined under the Receivables Sub Credit Agreement) pledged by such Borrower to the Administrative Agent and the Collateral pledged by such Receivables Sub to the Receivables Administrative Agent, to the applicable Collection Account.

Examples of Direction to Pay in a sentence

• The Lessor or any person to whom the Lessor assigns any right to receive any payments hereunder (whether by Direction to Pay or otherwise) shall be and shall remain liable for all income taxes assessed against either of them in respect of such payment, without recourse to the Lessee.

• The Grantor or any person to whom the Grantor assigns any right to receive any payments hereunder (whether by Direction to Pay or otherwise) shall be and shall remain liable for all income taxes assessed against either of them in respect of such payment, without recourse to the Grantee.

• This Direction to Pay is given in accordance with this Agreement.

• Perform and observe, and cause each Borrower’s employees to perform and observe, all agreements, covenants, representations and warranties of Borrowers under the Existing Distribution Agreements, the Additional Distribution Agreements, the Notices of Irrevocable Authority and Direction to Pay, the P&A Subordination Agreement, the Collection Account Agreement, and any other Loan Document to which a Borrower is a party.

• If any one or more of the Events of Default occur or occurs and is or are continuing, the Lender may without limitation in respect of any other rights it may have in law or pursuant to this Agreement or any other document or instrument delivered hereunder, (i) accelerate the principal amounts of all remaining payments and demand immediate payment of all monies owing hereunder, and (ii) deliver to EPMI the Direction to Pay.

More Definitions of Direction to Pay

Direction to Pay means any Payment Agreement, dated as of the date hereof, between a Borrower, the applicable Master Distributor, the applicable Receivables Sub and the Administrative Agent, in such form as may be reasonably acceptable to the Administrative Agent, as amended, supplemented or otherwise modified, renewed or replaced from time to time, directing such Master Distributor to remit all proceeds of the Collateral (as defined under the Receivables Sub Credit Agreement) pledged by such Borrower to the Administrative Agent and the Collateral pledged by such Receivables Sub to the Receivables Administrative Agent, to the applicable Collection Account.

Direction to Pay means the authorization from the Participant which allows AMSC to pay the Qualified Contractor on the Participant’s behalf found in Schedule B;

Direction to Pay means the document by which the Council directs Canada to deposit the Compensation in accordance with Article 2.0, authorized by the corresponding Band Council Resolution for Payment, substantially in the form attached to this Settlement Agreement as Schedule 2.

Direction to Pay has the meaning ascribed thereto in the Deposit Agreement; “Direction to Pay Same-Day” has the meaning ascribed to it in the Deposit Agreement;

Direction to Pay means the document by which the Mohawk Council of Akwesasne directs Canada to deposit the Settlement Amount in accordance with Section 3.0, as set out in Schedule 8;

Direction to Pay means Borrowers direction to pay all proceeds received by the Collection Account directly to Lender until the indefeasible repayment of the Indebtedness.

Direction to Pay means a written instruction from the 718 insured to the insurer directing the insurer to pay the health 719 care provider directly.