Disbursement Request Sample Clauses
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Disbursement Request. At any time prior to the Termination Date, upon written certification by the Purchaser to the Escrow Agent (i) that an amount is due and payable by the Seller to the Purchaser pursuant to Section 10.2 of the Asset Purchase Agreement (an “ Indemnification Claim Amount ”) and such amount has not been paid, (ii) that an amount is due and payable by the Seller to the Purchaser pursuant to Section 8.14 of the Asset Purchase Agreement (an “ Elop Claim Amount ”), and such amount has not been paid; (iii) that an amount in is due and payable by the Seller to the Purchaser pursuant to Section 8.15 of the Asset Purchase Agreement (an “ United Mizrachi Bank Claim Amount ”) and such amount has not been paid, or (iv) that an amount is due and payable by the Seller to the Purchaser pursuant to Section 8.16 of the Asset Purchase Agreement (an “ OCS Claim Amount ”), and such amount has not been paid, the Purchaser (on its own behalf or on behalf of any other Person to whom such amount is to be paid) may request a disbursement, subject to Article 3 hereof, from the Escrow Account in payment of such amount, or a portion thereof, if any, by delivering to the Escrow Agent and the Seller a written notice (a “ Purchaser Payment Request ”) which specifies the Indemnification Claim Amount, the Elop Claim Amount, the United Mizrachi Bank Claim Amount or the OCS Claim Amount, as the case may be, and which may include instructions to the Escrow Agent to sell Escrow Shares on behalf of the Seller in customary broker transactions on the OTC Bulletin Board (or wherever the Common Stock is then listed or quoted for trading) in an amount equal to the Indemnification Claim Amount, the Elop Claim Amount, United Mizrachi Bank Claim Amount or the OCS Claim Amount, as the case may be, and to wire the proceeds from such sale to the account of the Purchaser set forth in the Purchaser Payment Request. Each Purchaser Payment Request shall be accompanied by a representation to the Escrow Agent that a copy of such Purchaser Payment Request has been provided to the Seller.
Disbursement Request. “Disbursement Request” means a requisition submitted from time to time to the Members by the Development Manager to fund costs incurred in connection with predevelopment, development, construction and marketing activities of the Project pursuant to the Development Plan and the Development Management Agreement and which shall state the date on which the funds requested are to be contributed (or loan proceeds drawn), which date shall not be less than five (5) business days following the receipt of such Disbursement Request by the Members. 1.44 Electing Member. “Electing Member” shall have the meaning set forth in Section 11.1 of this Agreement. 1.45
Disbursement Request. Borrower shall submit to Lender one (1) Disbursement Request for both Projects including Borrower’s Requisition in the form attached hereto as Exhibit B (“Borrower’s Requisition”), not less than twelve (12) Business Days prior to the proposed Disbursement date and no more frequently than once in each calendar month, which shall constitute Borrower’s representation and warranty to Lender that: (a) any completed construction is substantially in accordance with the Plans and Specifications, (b) all costs for which Lender has previously authorized Disbursement of funds have in fact been paid, (c) all the representations and warranties contained in Article IV of this Agreement continue to be true and correct in all material respects, except for such changes in facts and circumstances as shall have occurred in the ordinary course of business and which do not otherwise give rise to or constitute an Event of Default, (d) to Borrower’s knowledge, no Event of Default shall have occurred and be continuing hereunder, and (e) to Borrower’s knowledge, Borrower continues to be in compliance in all material respects with all of the other terms, covenants and conditions contained in this Agreement. In connection with any Disbursements of the unadvanced portion of the Loan, Borrower’s Requisition shall additionally include the information outlined in Section 2.8.1(b) hereof. With regard to all Disbursements, each Borrower’s Requisition shall also include a certification from Borrower that all prior Disbursements of Useable Unit Sale Contract Deposits from Escrow Funds have been utilized in accordance with applicable Legal Requirements, the Tri-Party Agreement, the Unit Sale Contracts, the Public Report, the Property Report, the Filed Budget and this Agreement. With regard to Disbursements for Hard Costs, Borrower’s Requisition shall be accompanied by:
(A) a completed and itemized Application and Certificate for Payment (AIA Document No. G702/G703) attached hereto as Exhibit H or similar form reasonably approved by Lender, containing the certification of the General Contractor or Contractor or Subcontractor to whom such payment is made, as applicable, and Borrower’s Architect as to the accuracy of same, together with invoices relating to all items of Project Related Costs covered thereby and accompanied by a cost breakdown showing the cost of work on, and the cost of materials incorporated into, the Project to the date of the requisition. The cost breakdown shall also show t...
Disbursement Request. Borrower shall have submitted to the Committee a written request for disbursement (“Disbursement Request”) in form and substance as set forth on Exhibit F, attached hereto and incorporated herein by this reference. Disbursement Requests shall be made by the persons listed in Exhibit F, who have been authorized by Borrower to request such disbursements until such time as written notice of Borrower's revocation of such authority is received by the Committee and acknowledged. Disbursement Requests may include Eligible Costs previously funded by the Construction Lender.
Disbursement Request. If such disbursement request is a request for Working Capital Loans, receipt by the Credit Facility Agent of a Disbursement Request substantially in the form set forth in Schedule B-2 (Disbursement Request Form (Working Capital Loans));
Disbursement Request. The Administrative Agent shall have received a duly executed and completed Disbursement Request.
Disbursement Request. To request LENDER a disbursement under the Credit Facility, BORROWER must send by reliable means and to LENDER’S satisfaction:
3.1.1 the original of the Disbursement Request duly filled out and signed by the legal representatives or attorneys-in-fact of DEBTORS duly empowered therefor, with their signatures certified by an Argentine notary public; each Disbursement Request shall always contain the requested disbursement amount, the Due Date/s thereof, the Sums Due payable by BORROWER on such Due Date/s calculated based on the Interest Rate.
Disbursement Request. IDB has received a Disbursement Request with respect to the Disbursement in accordance with Section 3.2 (Disbursement Procedure), together with a receipt substantially in the form of Exhibit 2 (Form of Disbursement Receipt). The Disbursement Request shall evidence use of proceeds by each Borrower in sufficient detail satisfactory to IDB and in compliance with Section 6.1.1 (Use of Proceeds).
Disbursement Request. Ladies and Gentlemen: We refer you to that certain Escrow Agreement (the “Agreement”), dated as of November , 2015, among the District, ▇▇▇▇▇, and Bank of America, National Association, as Escrow Agent. Capitalized terms used but not defined in this letter shall have the meanings given them in the Agreement. Pursuant to the provisions of the Agreement, you are hereby directed to disburse Escrow Fund held in the Escrow Account as follows:
Disbursement Request. Prior to each disbursement, the Borrower shall submit to the CEB a disbursement request substantially in the form set out under Appendix 3 hereto (hereinafter, a “Disbursement Request”).