CONCERT LOAN PROGRAM Sample Clauses

CONCERT LOAN PROGRAM. (a) EnerBank, in consultation with Sponsor, shall establish from time-to-time the types of Loans to be available under the Concert Loan Program. A complete description of each such Loan will be made available via the Concert Portal, or other secure method as determined by Sponsor from time to time. (b) No Loan shall exceed 100% of the cost to the Customer of the Eligible Improvements, and any related pre-paid warranty or service agreement, being provided by Contractor, together with related costs of installation and overhead. (c) A lump sum, non-refundable fee (“Loan Fee”) may be charged to Contractor by EnerBank on any Loan closed and such Loan Fees may be charged on either (i) the first advance of a Loan, or (ii) pro-rata on each advance made under any Loan that has multiple disbursements, in the sole discretion of EnerBank (each advance, the “Funded Amount”). Approximately five (5) calendar days before the end of each month, Sponsor will update via the Concert Portal, or other secure method as determined by Sponsor from time to time, the amount of Loan Fees for each available Loan type for the applicable Loan applications submitted during the next calendar month. Contractor shall execute and upload to the Concert Portal the Loan Disbursement and Fee Payment Authorization Form (annexed hereto as Attachment A) in connection with this Agreement. (d) The amount of the Loan less the applicable Loan Fees shall be known as the “Net Loan Proceeds.” EnerBank will distribute the Net Loan Proceeds, in one or more Funded Amounts, to Technology Provider via electronic funds transfer. The Technology Provider will distribute such Funded Amounts (i) to Sponsor (to pay, on behalf of Contractor, the amounts owed by Contractor to Sponsor for the materials purchased by Contractor from Sponsor for the Customer’s project), and (ii) to Contractor as directed by ▇▇▇▇▇▇▇. Upon receipt by the Technology Provider of the Net Loan Proceeds, Contractor acknowledges that (i) Customer has paid to Contractor the Funded Amount, (ii) all applicable Loan Fees have been paid by Contractor to EnerBank, and (iii) any amounts owed by Contractor to Sponsor for the materials purchased by Contractor from Sponsor for the Customer’s project have been paid to Sponsor. (e) Sponsor will provide information about the Concert Loan Program to Contractor (including Contractor’s employees and agents authorized by Contractor to access or receive such information) via the Concert Portal, a secure website or...