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 the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrowers shall be made:
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.
Disbursement of the Loan. Application for Drawing of the Facility
Disbursement of the Loan. Subject to the provisions of this Agreement, the Lender shall on the Drawdown Date advance the Loan to the Borrower; and payment to the Borrower shall be made to the account which the Borrower specifies in the Drawdown Notice.
Disbursement of the Loan. After receipt by the Commission of this Agreement fully executed by all parties hereto, and provided that the Debtor is not in default on its obligations to the Commission as of the date first written above, the Commission shall disburse the Loan to the Debtor on one of the following schedules to be selected by the Debtor: Schedule 1 – In Arrears. Not more than two (2) installments as requested by the Debtor in writing at such times as the Debtor may elect, subject to the reasonable approval of the Commission. The amount of each disbursement shall be limited to that portion of the Loan which has been earned by the Company based upon information described in Section 5 or 6 of this Agreement, as applicable, when the same is delivered to and approved by the Commission in its sole discretion. Schedule 2 – In Advance. Not more than two (2) installments as requested by the Debtor in writing at such times as the Debtor may elect, subject to the reasonable approval of the Commission. The amount of each disbursement shall not be limited to that portion of the Loan which has been earned by the Company; however, each such disbursement shall only be made after the Debtor Certification attached hereto as Exhibit B has been completed by the Debtor and delivered to and approved by the Commission in its sole discretion. Fifty percent (50%) of the Loan is allocated for the Company’s taxable asset obligation set forth in Section 4 of this Agreement and fifty percent (50%) of the Loan is allocated for the Company’s employment obligation set forth in Section 3 of this Agreement. Unless otherwise agreed to in writing by all parties to this Agreement, Debtor shall disburse all Loan proceeds to the Company or for the Company’s benefit within 30 days of receipt of Loan proceeds from the Commission or return the undisbursed proceeds to the Commission.
Disbursement of the Loan. Subject to the terms hereof, Bank will credit the proceeds of the Loan advanced from time to time to Borrower's deposit account with Bank or, at Bank's discretion, to other depository accounts designated by Borrower.
Disbursement of the Loan. (1) Where there shall have been no notice made pursuant to Article 6(1) and all the conditions precedent set forth in Article 4 shall have been satisfied as of the Disbursement Date, each Lender shall remit the amount of its Loan Commitment to the Agent Account on the Disbursement Date (each Lender shall complete the procedure of such remittance to the Agent Account not later than 10:00 a.m. (Japan time) on the Disbursement Date). On the Disbursement Date, the Agent shall transfer the amount remitted to the Agent Account for disbursement of each Lender's Individual Advance, to the Syndicate Account for each Lender. When the Agent transfers the amount of the Loan Commitment of each Lender to the Syndicate Account, such Lender is deemed to have disbursed its Individual Advance.
Disbursement of the Loan. The proceeds of the Loan shall be credited on the Disbursement Date to the Disbursement Account.
Disbursement of the Loan i) In the case of purchase of new Vehicle(s), the loan amount shall be disbursed by the Lender directly to the Dealer/Manfacturer and such disbursement shall be deemed to be disbursement to the Borrower(s).
