DISBURSEMENT OF MCC FUNDING Sample Clauses

DISBURSEMENT OF MCC FUNDING. Disbursement Process.‌
DISBURSEMENT OF MCC FUNDING. Disbursement Process.
DISBURSEMENT OF MCC FUNDING. 13 Section 3.1 Disbursement Process ....................................................................................... 13 Section 3.2 Conditions Precedent to Disbursement of Compact Implementation Funding ............................................................................................................. 15 Section 3.3 Conditions Precedent to the Initial Disbursement of Program Funding ........... 15 Section 3.4 Conditions Precedent to Each Disbursement of Program Funding .................. 15 Section 3.5 Failure to Satisfy Conditions Precedent; Partial Disbursements ...................... 17 Section 3.6 Authorized Expenditures .................................................................................. 17 TOC - ii INDONESIA PROGRAM IMPLEMENTATION AGREEMENT
DISBURSEMENT OF MCC FUNDING. The Disbursement process described in Article 3 applies to the entire Program except for the Mt. Coffee Activities. The Disbursement process for the Mt. Coffee Activities is set forth in Annex IV. Disbursement Process.‌
DISBURSEMENT OF MCC FUNDING 

Related to DISBURSEMENT OF MCC FUNDING

  • Disbursement of Funds Except as otherwise specifically provided in the immediately succeeding sentence, no later than 12:00 Noon (New York time) on the date specified in each Notice of Borrowing, each Lender with a Commitment will make available its pro rata portion of each such Borrowing requested to be made on each Borrowing Date. All such amounts shall be made available in Dollars and in immediately available funds at the Payment Office of the Administrative Agent and the Administrative Agent will make available to the Borrower (on such day to the extent of funds actually received by the Administrative Agent prior to 12:00 Noon (New York time) on such day) at the Payment Office, in the account specified in the applicable Notice of Borrowing, the aggregate of the amounts so made available by the Lenders. Unless the Administrative Agent shall have been notified by any Lender prior to each Borrowing Date that such Lender does not intend to make available to the Administrative Agent such Lender’s portion of any Borrowing, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on each Borrowing Date and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover on demand from such Lender or the Borrower, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower until the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if recovered from such Lender, the overnight Federal Funds Rate and (ii) if recovered from the Borrower, the rate of interest applicable to the respective Borrowing, as determined pursuant to Section 2.07.

  • Disbursement of the Loan Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA. · Disbursements may be made in increments as needed. · Other conditions may be imposed by SBA pursuant to general requirements of SBA. · Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement. · NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD. PARTIES AFFECTED · This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and assigns and will inure to the benefit of SBA and its successors and assigns.