Lender’s Application of Loan Proceeds. Notwithstanding the provisions of Section 13(a), above, the Lender may elect, upon ten (10) days’ notice to the Borrower, to use the Construction Loan funds to pay, as and when due, any Construction Loan fees owing to Lender, interest on the Construction Loan, release charges under prior mortgages on the Property, and legal fees and disbursements of the Lender’s attorneys which are payable by the Borrower, unless Borrower causes such amount(s) to be paid within said ten (10) days. Such payments may be made, at the option of the Lender, by debiting or charging the Construction Loan funds in the amount of such payments.
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Samples: Master Loan Agreement (US BioEnergy CORP), Master Loan Agreement (US BioEnergy CORP)
Lender’s Application of Loan Proceeds. Notwithstanding the provisions of Section 13(a2.02(a), above, the Lender may elect, upon ten (10) days’ notice to the Borrower, to use the Construction Loan funds to pay, as and when due, any Construction Loan fees owing to Lender, interest on the Construction Loan, release charges under prior mortgages on the Property, and legal fees and disbursements of the Lender’s attorneys which are payable by the Borrower, unless Borrower causes such amount(s) to be paid within said ten (10) days. Such payments may be made, at the option of the Lender, by debiting or charging the Construction Loan funds in the amount of such payments.
Appears in 1 contract
Samples: Construction and Revolving Loan Agreement (United Wisconsin Grain Producers LLC)
Lender’s Application of Loan Proceeds. Notwithstanding the provisions of Section 13(a2.02(a), above, the Lender may elect, upon ten (10) days’ notice to the Borrower, to use the Construction Convertible Loan funds to pay, as and when due, any Construction Convertible Loan fees owing to Lender, interest on the Construction Loan, release charges under prior mortgages on the Property, and legal fees and disbursements of the Lender’s attorneys which are payable by the Borrower, unless Borrower causes such amount(s) to be paid within said ten (10) days. Such payments may be made, at the option of the Lender, by debiting or charging the Construction Convertible Loan funds in the amount of such payments.
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Lender’s Application of Loan Proceeds. Notwithstanding the provisions of Section 13(a7(a), above, the Lender may elect, upon ten (10) days’ notice to the Borrower, to use the Construction Loan funds to pay, as and when due, any Construction Loan fees owing to Lender, interest on the Construction Loan, release charges under prior mortgages on the Property, and legal fees and disbursements of the Lender’s attorneys which are payable by the Borrower, unless Borrower causes such amount(s) to be paid within said ten (10) days. Such payments may be made, at the option of the Lender, by debiting or charging the Construction Loan funds in the amount of such payments.
Appears in 1 contract
Samples: Master Loan Agreement (Green Plains Renewable Energy, Inc.)
Lender’s Application of Loan Proceeds. Notwithstanding the provisions of Section 13(a6(a), above, the Lender may elect, upon ten (10) days’ notice to the Borrower, to use the Construction Loan funds to pay, as and when due, any Construction Loan fees owing to Lender, interest on the Construction Loan, release charges under prior mortgages on the Property, and legal fees and disbursements of the Lender’s attorneys which are payable by the Borrower, unless Borrower causes such amount(s) to be paid within said ten (10) days. Such payments may be made, at the option of the Lender, by debiting or charging the Construction Loan funds in the amount of such payments.
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Lender’s Application of Loan Proceeds. Notwithstanding the provisions of Section 13(a7(a), above, the Lender may elect, upon ten (10) days’ days notice to the Borrower, to use the Construction Loan funds to pay, as and when due, any Construction Loan fees owing to Lender, interest on the Construction Loan, release charges under prior mortgages on the Property, and legal fees and disbursements of the Lender’s attorneys which are payable by the Borrower, unless Borrower causes such amount(s) to be paid within said ten (10) days. Such payments may be made, at the option of the Lender, by debiting or charging the Construction Loan funds in the amount of such payments.
Appears in 1 contract
Samples: Master Loan Agreement (Homeland Energy Solutions LLC)
Lender’s Application of Loan Proceeds. Notwithstanding the provisions of Section 13(a6(a), above, the Lender may elect, upon ten (10) days’ notice to the Borrower, to use the Construction Loan funds to pay, as and when due, any Construction Loan fees owing to Lender, interest on the Construction Loan, release charges under prior mortgages on the Property, and reasonable legal fees and disbursements of the Lender’s attorneys which are payable by the Borrower, unless Borrower causes such amount(s) to be paid within said ten (10) days. Such payments may be made, at the option of the Lender, by debiting or charging the Construction Loan funds in the amount of such payments.
Appears in 1 contract
Samples: Master Loan Agreement (Otter Tail Ag Enterprises, LLC)