LOAN AND DISBURSEMENT Sample Clauses

LOAN AND DISBURSEMENT. At the request of the Borrower, the Bank hereby agrees to provide to the Borrower, and the Borrower hereby agrees to avail of the Loan the amount mentioned in Schedule-II for the purpose(s) set forth in the Borrower's proposal/Application Form and subject to the conditions hereof and the Application Form and the Sanction Letter. The Bank shall disburse the Loan in one lump sum or in tranches as per the needs of the Borrower and/or after taking into consideration the certificate of the architect or documentary evidence to the satisfaction of the Bank with respect to the progress of construction. The Bank shall have the right not to release the money till such time it is satisfied about progress of the Project. The decision of the Bank in this regard shall be final and binding on the Borrower. The Borrower shall acknowledge the receipt of the disbursement letter issued by the Bank, in the form required by the Bank, of each amount so disbursed. Subject to the provisions of Sanction and terms of this agreement, the Loan Amount shall be disbursed upon the receipt of the drawdown request by the Borrower within the Availability Period or in such other manner as the Bank, in its sole discretion, may deem fit. At the specific request of the Borrower, the disbursement of the Loan or any part thereof by the Bank may be made to the Borrower, or directly to the developer /builder/construction company/contractor/seller of the Property, where applicable or any other Person, as the Bank may in its sole discretion deem fit. In case the Loan being availed of by the Borrower is in balance transfer/takeover of a credit facility/ loan earlier availed of by the Borrower from another bank/financial institution, the disbursement of the Loan Amount or any part thereof by the Bank may be made to the Borrower, or directly to such other bank/financial institution or any other Person, as the Bank may in its sole discretion deem fit. All such payment of the amount of the Loan/Facility to such Person(s) as may be directed by the Borrower/s shall be deemed to be disbursements made to the Borrower/s and the Borrower/s shall not thereafter dispute such disbursements. The Borrower/s authorises the Bank to handover the amounts of the Facility directly to the aforesaid Persons and the Bank shall not be liable once such disbursement/s has been made. In the event that the Borrower, has failed to avail of/draw down the entire Loan or part thereof sanctioned by the Bank to the Borrower, within th...
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LOAN AND DISBURSEMENT. 1.1 The Loan shall be available to the Borrower for only one drawdown after the Application is approved by the Bank.
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LOAN AND DISBURSEMENT. The Lender agrees at the request of the Borrower to make available to the Borrower, and the Borrower agrees to borrow from the Lender a term loan facility in the total amount of ________,__ USD (______________ dollars) on the terms and subject to the conditions of this Agreement (hereinafter referred to as - «the Loan»). Target use of the Loan – __________ ____________________________________. Unless otherwise agreed by the Parties in writing, the Loan can be given by the Lender in several tranches (hereinafter referred to as - «the Tranche»). The Borrower shall use the following bank account for receiving and making any and/or all payments under this Agreement: Account number: ____________________ Beneficiary’s Bank: _____________________________________ (the name of the bank’s branch, where the account is opened) _____________________________________(bank address) Swift: XXXXXXXX Correspondent Bank (USD): ____________________________________ Swift Code: ______________ Account No: ______________ Disbursement of Loan (Tranche) shall be made in a date at discretion of Lender taking into account p.2
Sample 1
LOAN AND DISBURSEMENT. The Lender agrees at the request of the Borrower to make available to the Borrower, and the Borrower agrees to borrow from the Lender a term loan facility in the total amount of ________,__ USD (______________ dollars) on the terms and subject to the conditions of this Agreement (hereinafter referred to as - «the Loan»). Target use of the Loan – __________ ____________________________________. Unless otherwise agreed by the Parties in writing, the Loan can be given by the Lender in several tranches (hereinafter referred to as - «the Tranche»). The Borrower shall use the following bank account for receiving and making any and/or all payments under this Agreement: Account number: ____________________ Beneficiary’s Bank: _____________________________________ (the name of the bank’s branch, where the account is opened) _____________________________________(bank address) Swift: XXXXXXXX Correspondent Bank (USD): ____________________________________ Swift Code: ______________ Account No: ______________ Disbursement of Loan (Tranche) shall be made by the Lender upon receipt from the Borrower of an written disbursement request (the Disbursement Request) which indicates the amount and date, when should be given the Loan (Tranche) (the Disbursement Date). The Disbursement Request shall be binding for the Lender. The Disbursement Request is valid if it is signed by duly authorized representative(s) of the Borrower and delivered to the Lender at least 10 (ten) banking days (as defined below) prior to the respective Disbursement Date. The Loan (Tranche) shall be given by the Lender by transferring the funds specified by the Borrower in the respective Disbursement Request to the Borrower's Account on the respective Disbursement Date. The Parties agreed that the first Disbursement Date shall be not later than 180 calendar days from the date of entry into force of the Agreement. CHAPTER II. REPAYMENT The Borrower is obligated to return the Loan, and completely pay accrued interest no later than ___.___.201___ (inclusive) (the Repayment Date). The Repayment Date can be changed by the Parties by conclusion of the additional agreement to this Agreement. In the event that a Repayment Date would fall on a day, which is not a Banking Day, it shall be postponed to the succeeding Banking Day. For the purposes of this Agreement a Banking Day shall mean a day on which commercial banks are open for general business in New York, USA and in Kyiv, Ukraine. All payments on return of the...
Sample 1

Related to LOAN AND DISBURSEMENT

  • FEES AND DISBURSEMENTS 6.1 The Service Provider hereby agrees to perform the service for the term of the agreement as per the Pricing Schedule (Annexure: C)

  • DOCUMENTS AND DISCHARGE Buyer shall not call for the production of any title deed, abstract, survey or other evidence of title to the property except such as are in the possession or control of Seller. If requested by Buyer, Seller will deliver any sketch or survey of the property within Seller’s control to Buyer as soon as possible and prior to the Requisition Date. If a discharge of any Charge/Mortgage held by a corporation incorporated pursuant to the Trust And Loan Companies Act (Canada), Chartered Bank, Trust Company, Credit Union, Caisse Populaire or Insurance Company and which is not to be assumed by Buyer on completion, is not available in registrable form on completion, Buyer agrees to accept Seller’s lawyer’s personal undertaking to obtain, out of the closing funds, a discharge in registrable form and to register same, or cause same to be registered, on title within a reasonable period of time after completion, provided that on or before completion Seller shall provide to Buyer a mortgage statement prepared by the mortgagee setting out the balance required to obtain the discharge, and, where a real-time electronic cleared funds transfer system is not being used, a direction executed by Seller directing payment to the mortgagee of the amount required to obtain the discharge out of the balance due on completion.

  • Satisfaction and Discharge This Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when:

  • Retention and disposal 9.5.1. Information shared under this Agreement will be securely stored and disposed by secure means when no longer required for the purpose for which it is provided as per each parties’ Information Security Policy, unless otherwise agreed in a specific case, and legally permitted. Each party will determine and maintain their own retention schedule.

  • Suspension and Discharge An employee who has not completed the probationary period may be released without appeal through the grievance procedure. Employees having successfully completed their probationary period shall only be disciplined or discharged for just cause. Prior to suspending or discharging an employee, provided they have completed their probationary period, such employee and the Union Xxxxxxx shall be given the reasons in writing, by the Employer, for the suspension or discharge.

  • Non-Sufficient Funds and Dishonored Payments If my check is returned by a bank or other entity for any reason, if any of my credit card or debit card payments are rejected, or if Xxxxx Management is unable, through no fault of its own or their bank, to successfully process any of my ACH debit, credit card, or debit card transaction, then:

  • Reduction and Disconnection NYISO or Transmission Owner may reduce Network Access Interconnection Service or disconnect the Large Generating Facility or the Developer Attachment Facilities, when such, reduction or disconnection is necessary under Good Utility Practice due to an Emergency State. These rights are separate and distinct from any right of Curtailment of NYISO pursuant to the NYISO OATT. When NYISO or Transmission Owner can schedule the reduction or disconnection in advance, NYISO or Transmission Owner shall notify Developer of the reasons, timing and expected duration of the reduction or disconnection. NYISO or Transmission Owner shall coordinate with the Developer using Good Utility Practice to schedule the reduction or disconnection during periods of least impact to the Developer and the New York State Transmission System. Any reduction or disconnection shall continue only for so long as reasonably necessary under Good Utility Practice. The Parties shall cooperate with each other to restore the Large Generating Facility, the Attachment Facilities, and the New York State Transmission System to their normal operating state as soon as practicable consistent with Good Utility Practice.

  • Permitted Uses and Disclosures of PHI 2.1 Unless otherwise limited herein, Business Associate may:

  • Land Acquisition Disbursement To initiate the purchase of the Land, the Recipient must first complete and submit a written Request to Proceed to the Director prior to Closing. The Request to Proceed must name the proposed Title Agent and must indicate the amount of Funds requested from the OPWC for the land acquisition, including expected settlement costs, based upon the participation ratio and the amount of funds expected from any Matching Funds. The Request to Proceed must contain as attachments: (a) a copy of the proposed Deed Restrictions; (b) a copy of the executed purchase agreement with respect to, or such other agreement to convey an interest in, the Land between the Recipient and the Land owner; (c) a copy of the performed appraisal according to the specifications provided by the Director; (d) evidence satisfactory to the Director that Recipient will acquire marketable title to the Land at Closing; and (d) if the Recipient desires to elect the pre-closing option described below (i) a copy of the signed escrow agreement among Recipient, Title Agent and the OPWC, executed by Recipient and Title Agent, substantially in the form of Appendix F of this Agreement (the "Escrow Agreement") and (ii) if the Title Agent is an agent for a title insurance company, rather than a title company itself, a closing protection letter issued by the title insurance company to the OPWC. Funds for land acquisition shall be disbursed to the Recipient, as part of a grant to the Recipient pursuant to Revised Code Sections 164.20 through 164.27, pursuant to the pre-closing option and/or the reimbursement option, as described in subsections 5(a) and 5(b), respectively.

  • Disbursement 7.1.1 Subject to the availability of sufficient moneys in and from the Funding Source based on Agency’s reasonable projections of moneys accruing to the Funding Source, Agency will disburse Grant Funds to Grantee for the allowable Project activities described in Exhibit A that are undertaken during the Performance Period.

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