Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower according to the Disbursement Schedule (as defined in Exhibit A). Disbursements shall be made to the Borrower’s account on the Xxxxxxx Platform.
Disbursements to Borrower. Borrower may request and receive (a) one (1) borrowing hereunder with respect to Borrower’s acquisition of the Property, and (b) additional draws for the payment construction costs as set forth herein. Any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.
Disbursements to Borrower. Prior to the occurrence of a Cash Management Event, all cleared Current Rents shall be swept to Account B. After the occurrence of a Cash Management Event, and until a Cash Management Restoration Event shall have occurred, when cleared Current Rents have been swept from Account A to the Deposit Account in amounts sufficient to make the deposits described in clauses (A), (B), and (C) of Section 2.6.8 during any Collection Period, (i) the Deposit Bank shall direct the Clearing Bank to continue to sweep cleared funds which are not Current Rents to the Deposit Bank and to stop further payments of Current Rents to the Deposit Bank for the remainder of that Collection Period; (ii) for the duration of that Collection Period, the Clearing Bank shall daily sweep all cleared Current Rents to Account B, from which account such funds may be drawn by Borrower; and (iii) upon the occurrence of the next Payment Date, the Deposit Bank shall stop disbursement of cleared Current Rents from Account A to Account B and shall again sweep all Current Rents from Account A to the Deposit Account. Upon the occurrence of a Cash Management Restoration Event, all cleared Current Rents in Account A shall be swept to Account B as provided above.
Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower on the Closing Date (as defined in Exhibit A). Disbursements shall be made to the Borrower’s ac- count on the Xxxxxxx Platform, unless otherwise agreed. Each disbursement shall be conclu- sively deemed to have been made at the request of and for the benefit of Borrower (a) when credited to the Borrower’s account on the Xxxxxxx Platform or (b) when advanced in accor- dance with the instructions of an Authorized Person. ��Interest Rate. Interest shall be payable on the Loan at the rate provided in the Note.
Disbursements to Borrower. (a) Following the Transaction Closing Date, provided that all of the conditions set forth in Section 3.1 and Section 3.2 have been satisfied, Lender shall advance the Term Loan to Borrower, in one or more advances, in an amount of up to $5,500,000.
Disbursements to Borrower. Borrower shall receive only one borrowing hereunder in respect of the Loan, which borrowing shall be made in two disbursements as set forth in Section 2.1.1 above, and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.
Disbursements to Borrower. On the Closing Date, an initial advance of the Loan in an amount equal to Seventy Three Million Eight Hundred Sixty One Thousand Five Hundred Fifty and No/100 Dollars ($73,861,550.00) has been advanced by Lender to Borrower (the “Initial Advance”). The unadvanced amount of the Loan, up to the Future Funding Amount, shall be advanced by Lender to Borrower upon request by Borrower, as Future Advances in accordance with, and subject to the terms and conditions of Section 2.1.6. Any disbursement of a Future Advance shall be added to the Outstanding Principal Balance and shall, when disbursed, bear interest at the Applicable Interest Rate. Any amount borrowed and repaid hereunder in respect of the Loan may not be re-borrowed.
Disbursements to Borrower. . . 21 Section 2.7 INTEREST RATE BUY-UP . . . . . . . . . . . 22 2.7.1 THE BUY-UP. . . . . . . . . . . . . . . . . 22 2.7.2 RETURN-OF-AMOUNTS DEFINITIONS . . . . . . . 22 2.7.3 PAYMENT OF RETURN-OF-AMOUNTS. . . . . . . . 24
Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower according to the Disbursement Schedule (as defined in Exhibit A). Disbursements shall be made to the Borrower’s account on the Xxxxxxx Platform. Disbursements shall only be made against the total value of invoices compliant to the grant reimbursement specifications of USDA Rural Business Development.
Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower on the Closing Date (as defined in Exhibit A). Disbursements shall be made to the Borrower’s account on the Xxxxxxx Platform, unless otherwise agreed. Each disbursement shall be conclusively deemed to have been made at the request of and for the benefit of Borrower (a) when credited to the Borrower’s account on the Xxxxxxx Platform or (b) when advanced in accordance with the instructions of an Authorized Person.
