Disbursement of the Loan definition

Disbursement of the Loan the disbursement of the total amount of the Loan to be made by the Bank to the Borrower and to be subject to the conditions precedent for disbursement referred to in Clause 3.02 of the Contract.
Sample 1

Examples of Disbursement of the Loan in a sentence

  • The first interest payment shall be made on the first Interest Payment Date after the Disbursement of the Loan.

  • The base interest rate for each Disbursement of the Loan shall be a per annum rate equal to the London Inter-Bank Offered Rate (“LIBOR”) for a one-year deposit in U.S. dollars, as published by the Wall Street Journal (or if the Wall Street Journal is not available, a comparable source) on the date of the applicable Disbursement to Loan Recipient, plus two percent (2%) (the “Base Rate”).

  • Subject to the satisfaction of the terms and conditions herein contained, the Initial Disbursement of the Loan shall be disbursed at Closing.

  • Prior to the first Disbursement of the Loan, a final financial plan for the Project (which shall reflect the executed version of the Construction Contract approved by OPIC) shall be agreed by OPIC and the Borrower (the “Approved Financial Plan”).

  • Disbursement of the Loan shall be governed by the Budget for the Project, in form and substance acceptable to Lender in Lender’s reasonable discretion.

  • Subject to the satisfaction of the conditions set forth in Articles 4 and 5, the Borrower may request a Disbursement of the Loan by delivering a Disbursement Request to OPIC not less than ten (10) Business Days prior to the Closing Date.

  • Disbursement of the Loan shall be governed by the Budget for the Project, in form and substance acceptable to Agent in Agent’s reasonable discretion.

  • Disbursement of the Loan shall be governed by a budget for the Subject Property (the “Budget”), in form and substance acceptable to Administrative Agent in Administrative Agent’s reasonable discretion, specifying the amount of cash equity invested in the Subject Property and all costs and expenses of every kind and nature whatever to be incurred by Borrower in connection with the Subject Property prior to the Maturity Date as described more fully in Section 8.2 below.

  • Each Disbursement of the Loan made by the Lender shall be evidenced by a Note dated as of the relevant Disbursement Date substantially in the form of Exhibit B and duly executed on behalf of the Borrower in an amount equivalent to 100% of each Disbursement, with the blanks to the satisfaction of the Lender and payable to the order of the Lender.

  • Disbursement of the Loan will be made, into the account of Borrower maintained with PNC Bank (the “Account”), unless otherwise directed by Borrower in writing.

Related to Disbursement of the Loan

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Disbursement is defined in Section 2.6.2.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Disbursement Rate means an annual rate of interest, as of the date of determination, equal to the greater of (a) eight percent (8%) and (b) the per annum rate for ten (10) year U.S. Treasury Obligations as published in The Wall Street Journal plus three hundred (300) basis points; provided, however, that in no event shall the Disbursement Rate exceed eleven and one-half percent (11.5%).

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Disbursement Date is defined in Section 2.6.2.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Special Agent Advances shall have the meaning set forth in Section 12.11 hereof.

  • Disbursement Period means the period during which Grant Funds may be disbursed.

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Revolving Advance has the meaning given in Section 2.1.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

  • Protective Advance has the meaning assigned to such term in Section 2.04.