D&A Loan definition

D&A Loan means, prior to the Drawdown Termination Date, the loan or loans made or to be made from Lender to Borrower, as evidenced by the Note, to fund Borrower’s share of the costs and expenses of D&A Operations, including the Discretionary D&A Loans.

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Examples of D&A Loan in a sentence

• If title materials and data available to Borrower are unsatisfactory to Lender, Lender may, but shall not be obligated to, advance D&A Loans, provided that, Borrower provides supplemental title materials within sixty (60) days following the funding of any D&A Loan that are satisfactory to Lender.

• Discretionary D&A Loan proceeds may be used by Borrower for the purposes of funding Borrower’s share of costs and expenses relating to the conduct of the Discretionary D&A Operations pursuant to Section 2.1(b) and Section 2.1(c), including reimbursement of expenses previously paid by Borrower for any corporate or business purpose of Borrower, all as approved by Lender in writing.

• To the extent any D&A Loan proceeds remain unused by Borrower subsequent to the completed D&A Operations for which they were advanced, Borrower may use such unused funds only for other D&A Operations approved by Lender or to repay any Obligations in accordance with the terms of this Agreement.