AUTHORIZATION TO DISBURSE. Borrower hereby authorizes and directs Agent to disburse for and on behalf of Borrower, and for Borrower’s account, the proceeds of Loans made by Agent and Lenders to Borrower pursuant to this Loan Agreement to such Person or Persons as Borrower or any Person specified in Section 13.10 of this Loan Agreement shall direct, whether in writing or orally.
Appears in 2 contracts
Sources: Loan and Security Agreement (Agritech Worldwide, Inc.), Loan and Security Agreement (Agritech Worldwide, Inc.)
AUTHORIZATION TO DISBURSE. Each Borrower hereby authorizes and directs Agent Lender to disburse for and on behalf of such Borrower, and for Borrower’s the Borrowers' account, the proceeds of Loans made by Agent and Lenders Lender to Borrower Borrowers pursuant to this Loan Agreement to such Person or Persons as any Borrower or any Person specified in Section 13.10 Paragraph 12.11 of this Loan Agreement shall direct, whether in writing or orally.
Appears in 1 contract
Sources: Loan and Security Agreement (Vita Food Products Inc)
AUTHORIZATION TO DISBURSE. Each Borrower hereby authorizes and directs Agent the Bank to disburse for and on behalf of such Borrower, and for Borrower’s the Borrowers' account, the proceeds of Loans made by Agent and Lenders the Bank to Borrower Borrowers pursuant to this Loan Agreement to such Person or Persons as any Borrower or any Person specified in Section 13.10 Paragraph 12.11 of this Loan Agreement shall direct, whether in writing or orally.
Appears in 1 contract