PURPOSE AND USE OF LOAN PROCEEDS Sample Clauses

PURPOSE AND USE OF LOAN PROCEEDS. The purpose of the Loan is to finance Borrower's portion of the purchase price for the Property and to finance the third-party costs and other expenses incurred by Borrower during the predevelopment phase of the Project as described in the MOU. The Loan funds shall not be used for any other purposes.
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PURPOSE AND USE OF LOAN PROCEEDS. The loan proceeds will be used by the Borrower solely for working capital purposes.
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PURPOSE AND USE OF LOAN PROCEEDS. The purpose of this Agreement is to provide the terms and conditions of the Direct Loan from the MTFC to the Entity and for the Entity and Commission's repayment of the Direct Loan to the MTFC. The Entity and the Commission's use of the Direct Loan shall be specifically for the widening of Route MM to four lanes plus a center turn lane from Route 360 (Xxxxx River Freeway) to Interstate 44 and no other purposes whatsoever. Prior to the MTFC disbursing any portion of the loan proceeds to the Entity and/or Commission, the Entity and/or Commission agrees to provide to the MTFC the schedule of Project construction progress, outlining all actions to be taken by the Entity and/or Commission towards the construction of the Project and timeframes corresponding to the completion of certain milestones in the Project construction progress.
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Related to PURPOSE AND USE OF LOAN PROCEEDS

  • Use of Loan Proceeds The Borrower shall use the credit extended under this Agreement solely for the purposes set forth in, or otherwise permitted by, Section 6.4 hereof.

  • Federal Reserve Regulations; Use of Loan Proceeds Except for the Federal Reserve Form to be executed and delivered by the Borrower, no filing or other action is required under the provisions of Regulations T, U or X in connection with the execution and delivery by the Borrower of this Credit Agreement and neither the making of any Loan in accordance with this Credit Agreement nor the use of the proceeds thereof, will violate or be inconsistent with the provisions of Regulations T, U or X.

  • Disbursement of Loan Proceeds (a) The Trustee, as the agent of the Trust, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the Trust, in a form meeting the requirements of Section 5.02(3) of the Bond Resolution.

  • Purpose of Loan The Borrower undertakes with each Creditor Party to use the Loan only for the purpose stated in the preamble to this Agreement.

  • General Loan Provisions 25 SECTION 4.1 Interest..................................................................................... 25 SECTION 4.2 Notice and Manner of Conversion or Continuation of Loans..................................... 28 SECTION 4.3 Fees......................................................................................... 28 SECTION 4.4 Manner of Payment............................................................................ 29 SECTION 4.5 Crediting of Payments and Proceeds........................................................... 30 SECTION 4.6 Adjustments.................................................................................. 30

  • Loan Proceeds Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4.

  • Loan Purpose of Mortgage Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Cut-off Average Average Average of Date Date Gross Remaining Comb Mortgage Principal Principal Interest Term Original Loan Purpose Loans Balance ($) Balance Rate (%) (months) LTV ------------------------------------------------------------------------------------------------------------------------- Purchase 1,622 109,692,260 48.11 9.587 214 95.76 Refinance - Cashout 606 83,435,587 36.59 7.537 311 79.79 Refinance - Rate Term 234 34,882,825 15.30 7.359 324 79.41 ------------------------------------------------------------------------------------------------------------------------- Total: 2,462 228,010,672 100.00 8.496 266 87.41

  • Use of Loan 3.1 The borrower shall use the long-term loan for purchasing 22.5% of shares of ICP Company and any other application of this long-term loan shall obtain earlier written consent from Sina Company.

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