Common use of Funding at Closing Clause in Contracts

Funding at Closing. Borrowers shall deposit with Lender the amounts necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan that otherwise would be disbursed to Borrowers, followed by prompt deposit of the same into the applicable Sub-Account of the Deposit Account in accordance with the terms hereof. Notwithstanding such deductions, the Loan shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Loan and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

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Funding at Closing. The Borrowers shall deposit with Lender the amounts necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan that otherwise would be disbursed to the Borrowers, followed by prompt deposit of the same into the applicable Sub-Account or Account of the Deposit Central Account in accordance with the terms hereofCash Management Agreement on the Closing Date. Notwithstanding such deductions, the initial Principal Amount of the Loan shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 2 contracts

Samples: Loan and Security Agreement (American Tower Corp /Ma/), Loan and Security Agreement (American Tower Corp /Ma/)

Funding at Closing. Borrowers Borrower shall deposit with Lender the amounts ------------------ necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan that otherwise would be disbursed to BorrowersBorrower, followed by prompt deposit of the same into the applicable Sub-Account of the Deposit Central Account in accordance with the terms hereofCash Management Agreement. Notwithstanding such deductions, the Loan shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 1 contract

Samples: Loan and Security Agreement (Ventas Inc)

Funding at Closing. The Borrowers shall deposit with Lender the amounts necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan that otherwise would be disbursed to the Borrowers, followed by prompt deposit of the same into the applicable Sub-Account of the Deposit Central Account in accordance with the terms hereofCash Management Agreement. Notwithstanding such deductions, the Loan shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 1 contract

Samples: Loan and Security Agreement (HRPT Properties Trust)

Funding at Closing. The Borrowers shall deposit with Lender the amounts necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan Loans (pro rata) that otherwise would be disbursed to the Borrowers, followed by prompt deposit of the same into the applicable Sub-Account or Account of the Deposit Lock Box Account in accordance with the terms hereofCash Management Agreement on the Closing Date. Notwithstanding such deductions, the Loan Loans shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Signal Inc)

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Funding at Closing. The Borrowers shall deposit with Lender the amounts necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan that otherwise would be disbursed to Borrowersthe Initial Borrower, followed by prompt deposit of the same into the applicable Sub-Account or Account of the Deposit Central Account in accordance with the terms hereofCash Management Agreement on the Closing Date. Notwithstanding such deductions, the initial Principal Amount of the Loan shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 1 contract

Samples: Loan and Security Agreement (Sba Communications Corp)

Funding at Closing. The Borrowers shall deposit with Lender the amounts necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan that otherwise would be disbursed to the Initial Borrowers, followed by prompt deposit of the same into the applicable Sub-Account or Account of the Deposit Central Account in accordance with the terms hereofCash Management Agreement on the Closing Date. Notwithstanding such deductions, the initial Principal Amount of the Loan shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 1 contract

Samples: Loan and Security Agreement (American Tower Corp /Ma/)

Funding at Closing. Borrowers Borrower shall deposit with Lender the amounts necessary to fund each of the Reserves as set forth below. Deposits into the Reserves at Closing may occur by deduction from the amount of the Loan that otherwise would be disbursed to BorrowersBorrower, followed by prompt deposit of the same into the applicable Sub-Account of the Deposit Central Account in accordance with the terms hereofCash Management Agreement. Notwithstanding such deductions, the Loan shall be deemed for all purposes to be fully disbursed at Closing.

Appears in 1 contract

Samples: Loan and Security Agreement (HRPT Properties Trust)

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