Common use of Disbursement of Loan to third party Clause in Contracts

Disbursement of Loan to third party. The payment by the Agent under Clause 4.6 to the Baffin Seller’s account shall constitute the making of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each Lender in an amount equal to that Lender’s Contribution.

Disbursement of Loan to third party. The payment by the Agent under Clause 4.6 to the Baffin Seller’s account Sellers shall constitute the making borrowing of the Loan and the Borrower Borrowers shall at that time become indebted, as principal and direct obligorobligors, to each Lender in an amount equal to that Lender’s 's Contribution.

Disbursement of Loan to third party. The payment by the Agent under Clause 4.6 to the Baffin Seller’s account Seller shall constitute the making available of the Loan and the Borrower shall at that time thereupon become indebted, as principal and direct obligor, to each Lender in an amount equal to that Lender’s Contribution.