Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.
Appears in 11 contracts
Sources: Secured Loan Agreement (Teekay LNG Partners L.P.), Senior Secured Revolving Credit Facility Agreement, Loan Agreement
Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 (Fees) and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.
Appears in 5 contracts
Sources: Secured Loan Agreement (DHT Holdings, Inc.), Secured Loan Agreement (Poseidon Containers Holdings Corp.), Secured Loan Agreement (DHT Holdings, Inc.)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s 's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.
Appears in 3 contracts
Sources: Loan Agreement, Loan Agreement (Teekay Shipping Corp), Loan Agreement (Teekay Offshore Partners L.P.)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.
Appears in 3 contracts
Sources: Secured Facility Agreement, Secured Facility Agreement (Teekay LNG Partners L.P.), Secured Facility Agreement (Teekay LNG Partners L.P.)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.
Appears in 3 contracts
Sources: Secured Term Loan Facility Agreement (Teekay Tankers Ltd.), Secured Term Loan Facility Agreement, Secured Term Loan Facility Agreement (Teekay LNG Partners L.P.)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lendersof the Finance Parties) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderFinance Party.
Appears in 2 contracts
Sources: Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc), Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that LenderBank’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lendersof the Finance Parties) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderFinance Party.
Appears in 2 contracts
Sources: Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc), Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that LenderBank’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees’ Insurances (with the exception of any amounts payable pursuant to Clause 9 7 and/or any the Fee Letter and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks alone) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.
Appears in 2 contracts
Sources: Loan Facility Agreement (Usg Corp), Secured Loan Facility Agreement (Usg Corp)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender▇▇▇▇▇▇’s Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.
Appears in 1 contract
Sources: Secured Credit Facility (Teekay Offshore Partners L.P.)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender that Lender’s 's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Documents (with the exception of any amounts payable pursuant to Clause 9 (Fees) and/or any Fee Letter and any amounts which, by the terms of the Finance Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more Lenders) and until so paid such amount shall be held by the Agent on trust absolutely for that Lender.
Appears in 1 contract
Sources: Third Supplemental Agreement to Secured Loan Facility Agreement (Genco Shipping & Trading LTD)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees' Insurances (with the exception of any amounts payable pursuant to Clause 9 9.1 and/or any the Fee Letter and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.
Appears in 1 contract
Sources: Secured Multi Currency Revolving Loan Facility Agreement (Stolt Offshore S A)
Distribution of Payments. The Agent shall pay promptly to the order of each Lender of the Banks that Lender’s Bank's Proportionate Share of every sum of money received by the Agent pursuant to the Finance Security Documents or the Mortgagees' Insurances (with the exception of any amounts payable pursuant to Clause 9 and/or any Fee Letter 7 and any amounts which, by the terms of the Finance Security Documents, are paid to the Agent for the account of the Agent alone or specifically for the account of one or more LendersBanks) and until so paid such amount shall be held by the Agent on trust absolutely for that LenderBank.
Appears in 1 contract