Disbursement of the Advance Sample Clauses

Disbursement of the Advance. Subject to the terms of this Agreement, the Lender shall disburse the Advance to the Borrower on the Drawdown Date by paying the proceeds thereof, less any fees permitted to be deducted therefrom, to the Borrower’s account as specified in the Drawdown Notice.
Sample 1
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Disbursement of the Advance. (1) Subject to the Lenders receiving the request for the Advance in accordance with Article 5, not making a notice pursuant to Article 8(1) and the full satisfaction of each provision in Article 6 as of each Proposed Disbursement Date, each Lender shall remit the Individual Advance Amount to the Syndicate Account on such Proposed Disbursement Date (each Lender shall complete such remittance to the Syndicate Account not later than 11 a.m. on such a Proposed Disbursement Date). Upon the Individual Advance Amount being credited to the Syndicate Account by each Lender, such an Individual Advance shall be deemed duly provided. In the case of multiple Advances on a single Proposed Disbursement Date and if notwithstanding that all conditions precedent set forth in Article 6(i) through (vi) were satisfied on the Proposed Disbursement Date, the amount credited to the Syndicate Account on the Proposed Disbursement Date falls short of the aggregate amount of the Individual Advance Amounts which should have been provided by a Lender, the Agent shall determine in its reasonable discretion which of such Advances has been duly provided. In such a case, as for the Individual Advances that were not deemed provided, the Agent shall give a notice immediately to the Lenders and the Borrower to that effect. Notwithstanding the foregoing, with respect to the provision of an Individual Advance in the form of a Refinancing New Advance, the Lender shall offset (a) the principal amount of the Individual Advance Payable constituting the Refinanced Existing Advance as of the Proposed Disbursement Date by (b) the Individual Advance Amount constituting the Refinancing New Advance, and depending on the results thereof, the following arrangement shall be made:
Sample 1
Disbursement of the Advance. If the Bank receives a Borrowing Notice by 11:00 a.m. of a Business Day, it shall make available the amount of the Advance by 2:30 p.m. (Puerto Rico time) on the next Business Day. If the Bank receives a Borrowing Notice after 11:00 a.m. of a Business Day, it shall make available the amount of the Advance by 2:30 p.m. (Puerto Rico time) on the second Business Day following such receipt. Nevertheless, if the Bank shall receive on any Business Day a Borrowing Notice(s) aggregating $5,000,000 or more, the Bank shall have no obligation to make available the requested Advance(s) prior to two Business Days thereafter. Unless otherwise agreed by the Bank, Advances shall be disbursed by crediting the Borrower’s account at the Lending Office.
Sample 1
Disbursement of the Advance. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrower the amounts in respect of the Advance which the Agent receives from the Lenders under Clause 4.5 (Lenders to make available Contributions) and that payment to the Borrower shall be made:
Sample 1
Disbursement of the Advance. Upon receipt of each of Borrowing Notice hereunder from the Borrowers, the Administrative Agent shall promptly notify each Lender of the aggregate amount of such advance. Each Lender will make the amount of its Commitment Percentage of each advance available to the Administrative Agent, for the account of the Borrowers at the office of the Administrative Agent designated by the Administrative Agent not later than 1:00 P.M., New York City time, on the requested date for such advance, in funds immediately available to the Administrative Agent at such office. The amounts so made available to the Administrative Agent will then, subject to the satisfaction of the terms and conditions of this Agreement, as determined by the Agent, be disbursed by the Administrative Agent on such date to the Borrowers.
Sample 1

Related to Disbursement of the Advance

  • 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.

  • Disbursement of Advance Subject to the provisions of this Agreement, the Agent shall on each Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Disbursement of Advances (a) Upon receiving any Request for Revolving Credit Advance from Borrower under Section 2.3 hereof, Agent shall promptly notify each Revolving Credit Lender by wire, telex or telephone (confirmed by wire, telecopy or telex) of the amount of such Advance being requested and the date such Revolving Credit Advance is to be made by each Revolving Credit Lender in an amount equal to its Revolving Credit Percentage of such Advance. Unless such Revolving Credit Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each such Revolving Credit Lender shall make available the amount of its Revolving Credit Percentage of each Revolving Credit Advance in immediately available funds to Agent, as follows:

  • Disbursement of Advance Proceeds All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers' Account on Agent's books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowers or deemed to have been requested by Borrowers under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

  • The Advances The Liquidity Provider hereby irrevocably agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until 12:00 Noon (New York City time) on the Expiry Date (unless the obligations of the Liquidity Provider shall be earlier terminated in accordance with the terms of Section 2.04(b)) in an aggregate amount at any time outstanding not to exceed the Maximum Commitment.

  • Disbursement of Loan Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Disbursement of Loan Proceeds (a) The State shall disburse Federal Funds earmarked for the Loan to the Borrower in accordance with the terms hereof. Before each and every disbursement of the proceeds of the Loan by the State to the Borrower, the Borrower shall in accordance with the procedures set forth in the Regulations submit to the State a requisition executed by an Authorized Officer of the Borrower.

  • Advances; Reimbursement of Advances (a) From time to time, (i) pursuant to terms of the Servicing Agreement, the Lead Servicer and/or the related Trustee may be obligated to make (1) Property Advances with respect to the Mortgage Loan or the Mortgaged Property and (2) P&I Advances with respect to the Lead Note and (ii) pursuant to the terms of a Non-Lead Servicing Agreement, the related Non-Lead Master Servicer and/or the related Trustee may be obligated to make P&I Advances with respect to a Non-Lead Note. The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead Note and the related Non-Lead Master Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Lead Note, any other Non-Lead Note or any Property Advance. The Lead Servicer, each Non-Lead Master Servicer and any Trustee will be entitled to interest on any Advance made in the manner and from the sources provided in the Note A-1 PSA or the Note A-2 PSA, as applicable.

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Each Advance The Lenders shall not be required to make any Advance unless on the applicable Borrowing Date:

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