Conditions to Funding the Project Loan Sample Clauses

Conditions to Funding the Project Loan. On the Delivery Date and thereafter, the Governmental Lender shall cause the proceeds of the Funding Loan to be deposited with the Fiscal Agent in accordance with Sections 2.02 and 2.11 of the Funding Loan Agreement and Section 3.03 hereof. The Fiscal Agent shall use such proceeds as provided in Article II of the Funding Loan Agreement to make the Project Loan, provided that no initial disbursements of proceeds shall be made until the following conditions have been met: Project Loan Agreement – TEL (Forward) Fixed Rate Page 13
Sample 1
AutoNDA by SimpleDocs
Conditions to Funding the Project Loan. On the Delivery Date, the Governmental Lender authorizes the Initial Funding Lender to deposit the proceeds of the Initial Installment with the Title Company in accordance with Section 2.11 of the Funding Loan Agreement and Section 3.03 hereof. Such proceeds of the Funding Loan shall be disbursed by the Title Company pursuant to the Settlement Statement. Following the Delivery Date, the Initial Funding Lender is expected to advance proceeds of the Funding Loan to pay interest on the Funding Loan 4816-8536-0354v5/024100-0013 prior to the Conversion Date (as described in clause (i) of the second sentence of the second paragraph of Section 2.01(b) of the Funding Loan Agreement), and otherwise the Governmental Lender, solely by its execution and delivery of the Funding Loan Agreement, shall cause the proceeds of the Funding Loan to be deposited with the Fiscal Agent in accordance with Section 3.03 hereof. The Fiscal Agent shall use such proceeds as provided in Article II of the Funding Loan Agreement to make advances of the Project Loan. Notwithstanding the foregoing, no initial disbursements of proceeds shall be made until the following conditions have been met:
Sample 1
Conditions to Funding the Project Loan. On the Delivery Date, Governmental Lender shall cause the proceeds of the Funding Loan to be deposited with the [IF FISCAL AGENT IS DISBURSING PROCEEDS: Fiscal Agent] [IF ESCROW AGENT IS DISBURSING PROCEEDS: Escrow Agent] in accordance with Section 2.11 of the Funding Loan Agreement and Section 3.03 hereof. [IF FISCAL AGENT IS DISBURSING PROCEEDS: Fiscal Agent shall use such proceeds as provided in Article II of the Funding Loan Agreement to make the Project Loan on behalf of Governmental Lender, provided that no such disbursements of proceeds shall be made until the following conditions have been met] [IF ESCROW AGENT IS DISBURSING PROCEEDS: The proceeds of the Funding Loan shall be disbursed by Escrow Agent in accordance with the Settlement Statement to make the Project Loan on behalf of Governmental Lender, provided that no authorization for the disbursements of proceeds shall be made until the following conditions have been met]:
Sample 1
Conditions to Funding the Project Loan. On the Delivery Date, the Governmental Lender shall cause the proceeds of the Funding Loan to be deposited with the Title Company in accordance with Section 2.11 of the Funding Loan Agreement and Section 3.03 hereof. The proceeds of the Funding Loan shall be disbursed by the Title Company pursuant to the Settlement Statement to make the Project Loan on behalf of the Governmental Lender, provided that no authorization for the disbursements of proceeds shall be made until the following conditions have been met:
Sample 1

Related to Conditions to Funding the Project Loan

  • Conditions to Funding The obligations of the Lenders to make any Credit Extension hereunder on the Funding Date are subject to the satisfaction of the following conditions:

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

  • 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 Initial Advance Lender shall have no obligation to make the Initial Advance of funds to Borrower unless and until Contractor has furnished Borrower and Lender the Bond permitted by this Contract, and the following conditions have been satisfied:

  • Conditions to Initial Loan The obligation of each Bank to make its initial Loan hereunder is subject to the satisfaction of the following conditions precedent:

  • Conditions Precedent to Initial Advances The obligation of each Bank to make its initial Advance on or after the Closing Date is subject to the conditions precedent that (i) all principal, accrued interest, fees, expenses, costs and other amounts outstanding under the terms of each of the Prior Agreements, accrued to the Closing Date, shall have been paid, and the commitments of the lenders thereunder to extend credit shall have terminated, (ii) the Agent shall have received, for the benefit of the Banks, the one time upfront fees due and payable on the Closing Date pursuant to the Joint Fee Letter and (iii) the Agent shall have received on or before the day of the initial Borrowing the following, each dated the Closing Date, in form and substance satisfactory to the Agent and in sufficient copies for each Bank:

  • Conditions to Each Loan The agreement of each Lender to make any Loan requested to be made by it on any date (including, without limitation, its initial Loan) is subject to the satisfaction of the following conditions precedent:

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

  • Conditions to Initial Loans The agreement of each Lender to make Loans hereunder and the effectiveness of this Agreement is subject to the satisfaction, prior to or on the Closing Date, of the following conditions precedent, which conditions precedent apply to and shall be satisfied by the Borrower:

Time is Money Join Law Insider Premium to draft better contracts faster.