Administration of Loan. The general administration of the Loans ---------------------- shall be by Administrative Agent and shall be governed by the provisions set forth in Exhibit B attached hereto and incorporated herein by reference.
Administration of Loan. NOTWITHSTANDING ANY LANGUAGE IN THIS AGREEMENT SEEMINGLY TO THE CONTRARY, BORROWER SHALL NOT BE ENTITLED TO ANY DISBURSEMENT OF LOAN PROCEEDS HEREUNDER UNLESS AND UNTIL BORROWER HAS SATISFIED ALL OF THE CONDITIONS OF LENDING SET FORTH THIS AGREEMENT. LENDER SHALL MAKE DISBURSEMENTS UNDER THE LOAN IN THE FOLLOWING MANNER:
Administration of Loan. For each loan:
Administration of Loan. Subject always to the limitations of Administrative Agent's liability, as set forth in Sections 7.11 and 12 hereof:
Administration of Loan. (1) The Borrower shall authorize Ministry of Public Works (hereinafter referred to as the “Executing Agency”) as the executing agency.
Administration of Loan. Notwithstanding any language in this Agreement seemingly to the contrary, Borrower shall not be entitled to any disbursement of Loan proceeds hereunder unless and until Borrower has satisfied all of the conditions of lending set forth in paragraph 5 of this Agreement. Upon satisfaction of such conditions of lending to the satisfaction of Lender, Lender will make Loan disbursements up to the respective maximum principal amounts of the Loans provided that, with respect to each Construction Project, (i) Lender’s Construction Consultant shall have completed periodic inspection(s) of the Construction Project and shall have advised Lender in writing that work to date on the Construction Project is satisfactory, (ii) there is no uncured Event of Default under any of the Loan Documents, and (iii) all of the other requirements set forth in this Loan Agreement for advancement of loan proceeds are satisfied. Subject to all of the terms, conditions and provisions of this Agreement, Lender shall make disbursements under the Loan in the following manner:
Administration of Loan. Only upon the unanimous consent of each Lender may the Agent (i) agree to any modification of any of the terms of the Credit Documents or any other agreement or instrument evidencing or securing this Loan; (ii) waive any of such terms or give or withhold consents or approvals to any actions or failure to act by the Borrower; (iii) reduce the principal of or the interest rate or extend the stated maturity of the Loan (other than pursuant to the exercise of Borrower’s rights under Section 2.5); (iv) agree upon any extension, modification, refinancing, refunding, assumption or other restructuring of the Loan.
Administration of Loan. For each loan: Lender shall receive all payments of principal, interest and other fees and charges with respect to a Loan. Lender shall maintain accurate records of: (i) any and all disbursements of the Loan, (ii) each payment of principal and interest made by Borrower for credit to the Loan, and (iii) all accrued interest on the Loan. Promptly upon obtaining knowledge or notice thereof, Lender shall notify VSBFA in writing of (i) any errors, omissions or mistakes with respect to any security interests, liens and/or guaranties or (ii) the failure to close and disburse the Loan in accordance with Lender’s loan commitment or VSBFA’s Approval Letter. Lender shall take all actions necessary and proper for administering and servicing the Loan consistent with all applicable laws and regulations and in a manner consistent with its normal lending practices. Lender shall take such usual and customary steps necessary to maintain perfected priority security interests in any collateral for the Loan, including, without limitation re-perfection of any security interest in the event of changes in the collateral for the Loan or in Borrower’s legal organizational structure. Failure of Lender to perfect liens and security interests or obtain guaranties required as conditions in VSBFA’s Approval Letter or Lender’s loan commitment, or failure of Lender to obtain written approval from VSBFA for repayment terms or a repayment schedule other than that originally approved by VSBFA, or failure of Lender to comply with the terms and conditions of this Agreement, shall release VSBFA from its obligations under this Agreement. Upon notice to Lender, VSBFA may inspect the files of Lender relating to the Loan during normal business hours of Lender. Lender agrees to retain all documents and instruments with respect to the Loan until one year from the date of full payment of the Loan or January 30, 20Click or tap here to enter text., whichever is later. None of the material terms and conditions of the Loan or Loan Documents shall be amended without the express prior written approval of VSBFA’s Executive Director; Lender will make available to the Inspector General of the Treasury all books and records related to the use of the funds provided by VSBFA, subject to the Right to Financial Privacy Act (12 U.S.C. § 3401 et seq.), Lender shall not, without prior written consent of VSBFA (VSBFA agrees to provide written response to Lender within 10 business days of each notice or request from Len...
Administration of Loan. Upon Lender being satisfied that each representation or warranty by Borrower and each other Credit Party to Lender is true and correct in all material respects, and upon Lender being satisfied that no Event of Default has occurred and is continuing, and that all material conditions set forth herein are satisfied, Lender agrees to disburse proceeds of the Loan, which shall be paid in accordance with the wiring instructions set forth below: Union Bank of Chandler Account #10228 Bankers Xxxx XXC ABA #103003616 Memo: For credit to Goober Drilling accxxxx #000690
Administration of Loan. Only upon the unanimous consent of each Lender may the Agent (i) agree to any modification of any of the terms of the Credit Documents or any other agreement or instrument evidencing or securing this Loan; (ii) waive any of such terms or give or withhold consents or approvals to any actions or failure to act by the Borrower; (iii) reduce the principal of or the interest rate or extend the stated maturity of the Loan; (iv) agree upon any extension, modification, refinancing, refunding, assumption or other restructuring of the Loan.
