Disbursement Accounts. 22.38.1 All proceeds from an advance of the Tranche 1 Amount and the Tranche 2 Amount under the Facilities shall be used by the Borrower only in accordance with the flow of funds set out in the Implementation Agreement and Funds Flow Statement. 22.38.2 All funds received by the Borrower, Holdco and Opco into their respective Disbursement Accounts shall be used by each of them only in accordance with the flow of funds set out in the Implementation Agreement and Funds Flow Statement.
Appears in 2 contracts
Sources: Senior Facilities Agreement (Atlatsa Resources Corp), Senior Term Loan and Revolving Facilities Agreement (Atlatsa Resources Corp)