Disbursement of Loan. The Loan shall represent credit provided by the Seller to the Borrower for use against the purchase by the Borrower of the Acquired Shares from the Seller, in accordance with the terms of the Purchase Agreement. The Loan shall be deemed to be made by the Seller on the Closing Date, upon the terms and subject to the conditions of this Agreement. The Loan shall not be disbursed in cash. The Borrower shall, on the Closing Date, acknowledge to the Seller in writing application of the proceeds of the Loan in accordance with the terms of the Purchase Agreement.
Appears in 4 contracts
Samples: Seller Credit Agreement (Repsol Ypf Sa), Seller Credit Agreement (Petersen Energia Inversora, S.A.), Seller Credit Agreement (Petersen Energia, S.A.)
