Disbursement Amounts. (a) The aggregate amount of all Disbursements is limited to the maximum amount of the Loan. The aggregate amount of the Loan for any Category is limited to the amount shown in the Development Budget for such Category, after adjustment for the expenditure of the Equity Contribution as shown on the Development Budget, taking into account any reallocation authorized by Lender pursuant to Section 6.3. Prior to Disbursement of any Loan proceeds, Borrower will have expended, for costs approved by Lender, sums at least equal to the Equity Contribution.
Disbursement Amounts. Following receipt of a Request for Disbursement and receipt and review of the report of the Consultant, Bank shall determine the amount of the disbursement it will make in accordance with the Bank's underwriting policies adopted from time to time by the Bank.
Disbursement Amounts. Set forth in the Loan Amount column of the cost breakdown is a “Loan Disbursement Budget” broken down by line items. From each line item, Bank shall disburse Loan funds in a total amount not to exceed the Loan Disbursement Budget for that line item, taking into account all prior disbursements, any applicable retention requirements, and any reallocation of funds to which Bank has consented. Any and all sums on deposit in the Borrower’s Funds Account (“Borrower’s Funds”) shall be disbursed as described below.
Disbursement Amounts. Set forth in one of the columns of the cost breakdown will be a "Loan Disbursement Budget" broken down by line items. From each line item, Lender will disburse Loan funds in a total amount not to exceed the Loan Disbursement Budget for that line item, taking into account all prior disbursements, any applicable retention requirements and any reallocation of funds to which Lender has consented in writing.
Disbursement Amounts. Subject to the allocations contained in the Budget and the limitations on disbursements that are hereinafter set forth, each Construction Advance shall be made in an amount equal to the percentage of work completed and incorporated into the Improvements, multiplied by the total allocation of Construction Facility proceeds available for such work pursuant to the Budget, plus the amount allocable to Materials which qualify for disbursement under Section 8.2, less amounts previously advanced for such work and/or Materials and less the applicable Holdback, up to a maximum of one hundred percent (100%) of all approved Construction Costs incurred by Borrower (excluding the value of the Land) plus approved Non-Construction Costs incurred by Borrower. Notwithstanding the foregoing, the aggregate principal amount to be disbursed shall not exceed the amount that results in the lesser of (i) a loan-to-cost ratio for the Project of not more than eighty percent (80%) based on the cost breakdown approved by Lender and/or Lender's inspecting engineer, or (ii) a loan-to-value ratio for the Project of seventy-five percent (75%) based on the "as completed" fair market value of the Project, as determined the Appraisal. Disbursement of Construction Advances shall be subject to the following additional provisions:
Disbursement Amounts. The aggregate amount advanced for any Category shall be limited to the amount shown in the Projects Budget for such Category, taking into account any reallocation authorized by the Lender pursuant to this Agreement. Subject to the terms of this Agreement, the Lender will authorize disbursements of the Lender Loan to defray actual and reasonable costs incurred and approved by the Lender and shown on the Projects Budget and labor performed on the Improvements and equipment and materials incorporated into the Improvements, since the date of the last disbursement less Retainage.
Disbursement Amounts. Following receipt of a Draw Request and receipt and review of Bank's inspection, Bank shall determine the amount of the disbursement it will make in accordance with Bank's standard draw sheet, a copy of which is attached as Exhibit A, provided no Default Condition or Default exists.
Disbursement Amounts. Aggregate advances of the Loan shall be limited to the maximum amount of the Loan. Prior to disbursement of any Loan proceeds, Borrower shall have expended sums at least equal to the amount shown as Borrower's equity, if any, on the Development Budget for costs approved by Lender in the corresponding category shown on the Development Budget, and such expenditures shall not be reimbursable from Loan proceeds. Lender shall advance the Loan proceeds as follows:
Disbursement Amounts. For each line item of the Cost Breakdown, Bondowner Representative shall make disbursements of Borrower’s Sources in amounts which, when totaled, do not exceed the maximum allocation of funds for that line item, as shown in the Cost Breakdown, taking into account all prior disbursements, any reallocations of Borrower’s Sources made by Bondowner Representative, in its sole discretion, and all applicable retention requirements. If at any time Bondowner Representative is holding Xxxxxxxx’s Funds in the Equity Account or Xxxxxxxx’s Funds Account, Bondowner Representative shall make all disbursements first from such funds until they are exhausted, in the manner provided in Section 4 of this Disbursement Schedule. On the first day of each month occurring from and after the date hereof (whether or not Bondowner Representative disburses or is obligated to disburse any of the proceeds of the Loan and whether or not Bondowner Representative releases or is obligated to release any funds from the Equity Account), Borrower shall pay to Bondowner Representative a Construction Inspection Fee of $[ ] on the Closing Date as a prepayment of the draw fee for the first [ ] draws during rehabilitation and construction to partially cover Bondowner Representative’s monthly administrative fees and costs.
Disbursement Amounts. Scholarship funds will be sent to each institution following the semester add/drop deadline. • College/University o Four-year degree: $2,125 per semester, payable for up to eight (8) qualified semesters • Community College:
