Definition of Disbursement Account Bank


Disbursement Account Bank means the bank or banks at which the Disbursement Accounts are established from time to time, or any such successor bank selected by Borrower provided such replacement bank shall be an Eligible Institution approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed.
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Examples of Disbursement Account Bank in a sentence

DISBURSEMENT ACCOUNT means the operating account of the Funds Administrator maintained with the Disbursement Account Bank.
Borrower agrees to establish and maintain the Disbursement Account with the Disbursement Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by the Lender hereunder.
DEFAULTING LENDER has the meaning set forth in SECTION 2.6. DISBURSEMENT ACCOUNT means the operating account of the Hawk Funds Administrator maintained with the Disbursement Account Bank.
The proceeds of all Loans made pursuant to this Agreement on and subsequent to the Closing Date are to be funded by Agent by wire transfer to the account designated by Borrower below (the Disbursement Account): Bank: ABA No.: Bank Address: Account No.: Reference: Borrower shall provide Agent with written notice of any change in the foregoing instructions at least three (3) Business Days before the desired effective date of such change.
The Agent is authorized by the Lenders, but is not obligated, to make Agent Advances consisting only of Prime Rate Loans (i) upon a Notice of Borrowing received by the Agent, or (ii) upon advice received by the Agent on a Business Day from the Disbursement Account Bank of the face amount of checks drawn on the Disbursement Account, which have been or will be presented for payment on that day minus the amount of funds then available in the Disbursement Account, pursuant to Section 2.2(c).