Utilisation of Loan Sample Clauses

Utilisation of Loan. The Borrower shall utilise the entire Loan for the purchase/ construction of the property as indicated by him in his Loan application and for no other purpose whatsoever. The Borrower confirms that loan is not given by the Bank in respect of properties meant for residential use but which the Borrower intends to use for commercial purposes and declares so while applying for Loan.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Utilisation of Loan. The Borrower shall utilise the entire Loan for the purchase/construction of the property as indicated by him in his Loan application and for no other purpose whatsoever. The Borrower confirms that loan is not only given by AUSFB in respect of properties meant for residential use but also towards the commercial purposes and declares so while applying for Loan.
Sample 1Sample 2
Utilisation of Loan. The Borrower shall utilise the entire Loan for the purpose as indicated by him in his Loan application and for no other purpose whatsoever.
Sample 1Sample 2
Utilisation of Loan a) The Borrower shall utilize the loan only for the purpose for which it is sanctioned and the purpose should not be for hoarding, speculation or activity restricted by Government of India or State Government or local bodies. The Borrower agrees to submit proof of end use of the loan proceeds as stipulated by the Bank. b) The Borrower undertakes that the loan will not be utilized for investment in non-banking business or in Agriculture or Plantation or Real Estate business or construction of Farm House or for trading in Transferable Development Rights (TDRs) (Applicable for Non Resident Indian Borrowers only)
Sample 1
Utilisation of Loan. The Borrower may utilise the Facility by delivery to the Lender of a duly completed Utilisation Request no later than three (3) Business Days before the proposed Utilisation Date.
Sample 1

Related to Utilisation of Loan

  • Repayment of Loan 6.1.1 Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.

  • Amount of Loan The Loan shall comprise the aggregate amount of Tranches disbursed by the Bank under the Credit, as confirmed by the Bank pursuant to Article 2.03.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Term Loan On the Closing Date, each Lender that has a Closing Date Term Commitment severally, and not jointly, agrees, on the terms and conditions set forth in this Agreement, to make a Term Loan to the Borrower pursuant to such Lender’s Closing Date Term Commitment, which Term Loans: (i) can only be incurred on the Closing Date in the entire amount of each Lender’s Term Commitment; (ii) once prepaid or repaid, may not be reborrowed; (iii) may, except as set forth herein, at the option of the Borrower, be incurred and maintained as, or Converted into, Closing Date Term Loans that are Base Rate Loans or Eurodollar Loans, in each case denominated in Dollars, provided that all Closing Date Term Loans made as part of the same Term Borrowing shall consist of Term Loans of the same Type; (iv) shall be repaid in accordance with Section 2.12(b); and (v) shall not exceed (A) for any Lender at the time of incurrence thereof the aggregate principal amount of such Lender’s Closing Date Term Commitment, if any, and (B) for all the Lenders at the time of incurrence thereof the Total Closing Date Term Commitment. The Closing Date Term Loans to be made by each Lender will be made by such Lender in the aggregate amount of its Term Commitment in accordance with Section 2.06 hereof. Each Lender having an Incremental Term Loan Commitment hereby severally, and not jointly, agrees on the terms and subject to the conditions set forth herein and in the applicable Incremental Term Loan Assumption Agreement, to make Incremental Term Loans to the Borrower, in an aggregate principal amount not to exceed its Incremental Term Loan Commitment. Amounts paid or prepaid in respect of Incremental Term Loans may not be reborrowed.

  • Drawdown Subject to the terms and conditions of this Agreement, each Advance shall be made to the Borrowers following receipt by the Agent from the Borrowers of a Drawdown Notice not later than 10:00 a.m. on the third Banking Day before the date, which shall be a Banking Day falling within the Drawdown Period for such Advance, on which the Borrowers propose such Advance is made. A Drawdown Notice shall be effective on actual receipt by the Agent and, once given, shall, subject as provided in clause 3.6.1, be irrevocable.

Time is Money Join Law Insider Premium to draft better contracts faster.