Disbursement definition
Examples of Disbursement in a sentence
The amount of principal repayable on each Repayment Date is the amount set out opposite that Repayment Date in Schedule 1; provided that, if the aggregate amount of Disbursements made up to and including the Final Disbursement Date is less than the Total Commitment Amount, then each amount of principal set forth on Schedule 1 shall be ratably reduced in proportion to such amount.
Any amount paid by the L/C Bank and later reimbursed by the Borrower to the L/C Bank pursuant to this Section 3.04(f) shall not be considered a Disbursement hereunder and such payment shall not be deemed to be a prepayment of a Disbursement for purposes of this Agreement and the other Finance Documents.
Any such interest payment shall be calculated at an interest rate per annum equal to the Applicable Interest Rate; provided, however, that in the event that any Disbursement is made within forty-five (45) days prior to an Interest Payment Date, the first payment of accrued interest with respect to such Disbursement under this Section 6.02(a) shall not be due and payable until the next succeeding Interest Payment Date.
Subject to the terms and conditions provided herein, including the conditions set forth in Section 7, Disbursements under the Credit Facility may be made up to and including the Final Disbursement Date.