Conditions to Disbursement After Loan Opening Sample Clauses

Conditions to Disbursement After Loan Opening. After the Loan Opening, the Borrower shall be entitled to receive further successive disbursements of the proceeds of the Loan (but not final disbursement of the proceeds of the Loan) within seven (7) Business Days after each successive compliance with all applicable conditions precedent thereto contained in Articles 6, 7 and 11, as applicable, and provided that:
Sample 1
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Conditions to Disbursement After Loan Opening. After the Loan Opening, Borrower shall be entitled to receive successive disbursements of proceeds of the Loan in accordance with Article 9 of this Agreement (other than the final disbursements described in Article 12 hereof) within three (3) business days after each successive compliance with all applicable conditions precedent thereto, and provided that (a) prior to each such disbursement no Event of Default shall have occurred under this Agreement or any of the Loan Documents, and (b) the Loan is "in balance" as required by Section 7.2 hereof, and (c) Borrower shall have furnished or caused to be furnished to Lender an endorsement to the Loan Policy of Title Insurance covering the date of disbursement and showing the Deed of Trust as a first, prior and paramount lien on the Land subject only to the Permitted Exceptions. Such disbursements shall be made no more frequently than twice in each calendar month. In addition, upon the occurrence and continuance of an Event of Default hereunder, such disbursements may be made directly to the person or persons entitled to such disbursement.
Sample 1

Related to Conditions to Disbursement After Loan Opening

  • Conditions to Disbursement The obligation of Lender to disburse the proceeds of the Loan shall be subject to satisfaction of each of the following conditions precedent on or before the Closing Date (unless another date is specifically referenced below):

  • Conditions Precedent to Disbursement The following conditions must be satisfied before the Loan is disbursed to Borrowers:

  • Conditions to Loan Section 3.1 Conditions to Funding of the Loan on the Closing Date......................................... 33

  • CONDITIONS TO LOANS The obligations of Lenders to make Loans are subject to satisfaction of all of the applicable conditions set forth below.

  • Conditions to Initial Advance Lenders will have no obligation to fund the initial Revolving Loan Advance or any subsequent Revolving Loan Advance unless:

  • Conditions to Each Advance The agreement of Lenders to make any Advance requested to be made on any date (including the initial Advance), is subject to the satisfaction of the following conditions precedent as of the date such Advance is made:

  • Conditions to Initial Credit Extension The obligation of each Lender to make a Credit Extension hereunder on the Closing Date is subject to satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent:

  • Conditions to Initial Advances The agreement of Lenders to make the initial Advances requested to be made on the Closing Date is subject to the satisfaction, or waiver by Agent, immediately prior to or concurrently with the making of such Advances, of the following conditions precedent:

  • Conditions to All Advances The obligation of each -------------------------- Applicable Lender to make any Advance, including its initial Advance, shall also be subject to the satisfaction of the conditions precedent that on the date of such Advance:

  • Additional Conditions to Revolving Loans If a Revolving Loan is requested, all conditions set forth in Section 2.1 shall have been satisfied.

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