Examples of Payment Direction Letter in a sentence
In the case of each of the foregoing payment obligations under this Section 3.6, the Parties agree to use commercially reasonable efforts to coordinate the respective timing of payments made pursuant to the Payment Direction Letter.
Borrower and Operating Lessee acknowledge that, pursuant to that certain Payment Direction Letter, dated as of December 14, 2018, Administrative Agent has directed AURA, in accordance with the Incentive Agreement, to deposit all Base Rebates and other proceeds payable to Borrower under the Incentive Agreement into the Borrower’s Depository Account.
Under the terms of a Payment Direction Letter, the Company assumed all liabilities of the Operating Companies to pay the total consideration of £180.9m partly to the Administrators (£7.9m) and partly to the former Johnston Press Group Noteholders (£173.0m).
If such amount is owed to Aron then DCRC and PBFH may, at their election, direct that all or a portion of such amount be paid by MSCG to Aron on DCRC’s and PBFH’s behalf and Aron agrees to accept such payment in accordance with the Payment Direction Letter.
If the Lenders are required to make an Advance to the Company as provided in Section 2.03, then each Lender shall make such Advance on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the Collateral Agent for deposit to the Collection Account; provided that the Company hereby directs the Lenders to pay the proceeds of the initial Advance hereunder in accordance with the directions set forth in the Payment Direction Letter.