Disbursement to Borrower definition

Disbursement to Borrower or “Disbursement” means the disbursement of Funds by Lender to Borrower in accordance with the applicable provisions of this Agreement, from the Loan Reserve, Carry Cost Reserve Account or as a Loan Advance.
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Disbursement to Borrower or “Disbursement” means the disbursement of Funds by Lender to Borrower in accordance with the applicable provisions of this Agreement, from the Loan Reserve, Carry Cost Reserve Account, PIK Interest Reserve Account or as a Loan Advance.
Sample 1Sample 2

Examples of Disbursement to Borrower in a sentence

  • All sums expended by Bondowner Representative in completing construction or curing Borrower’s defaults will be considered to have been an additional Disbursement to Borrower bearing interest at the Default Rate and will be secured by the Loan Documents.

  • All sums expended by Bondowner Representative in completing rehabilitation or curing Borrower’s defaults will be considered to have been an additional Disbursement to Borrower bearing interest at the Default Rate and will be secured by the Loan Documents.

  • Any right to request a Disbursement to Borrower shall terminate and become null and void upon any transfer of title to the Mortgaged Property, or any portion thereof in violation of this Agreement, or upon any unauthorized Conveyance.

  • GENERAL TERMS 29 Section 2.1 Loan Commitment; Disbursement to Borrower.

  • During the continuance of an event of default by Architect under the Architect’s Contract (following any required notice to Architect and the expiration of any applicable cure period), Lender shall be entitled to withhold the portion of a Disbursement to Borrower which would be otherwise payable to the Architect absent such event of default.

  • During the continuance of an event of default by Owner’s Representative under the Services Contract (following any required notice to Owner’s Representative and the expiration of any applicable cure period), Lender shall be entitled to withhold the portion of a Disbursement to Borrower which would be otherwise payable to the Owner’s Representative absent such event of default.

  • Section 2.1. Loan Commitment; Disbursement to Borrower 51 Section 2.2. The Loan 51 Section 2.3. Disbursement to Borrower 51 Section 2.4. The Note and the Other Loan Documents 51 Section 2.5. Interest Rate 52 Section 2.6. Loan Payments 56 Section 2.7. Prepayments 57 Section 2.8. Interest Rate Cap Agreement 60 Section 2.9. Extension of the Floating Rate Component Maturity Date 62 Section 2.10.

  • Section 2.1. Loan Commitment; Disbursement to Borrower 44 Section 2.2. Interest Rate 44 Section 2.3. Loan Payment 50 Section 2.4. Prepayments 51 Section 2.5. Release of Property 52 Section 2.6. Cash Management 52 ARTICLE III.

  • During the continuance of an event of default by an Engineer under an Engineer’s Contract (following any required notice to such Engineer and the expiration of any applicable cure period), Lender shall be entitled to withhold the portion of a Disbursement to Borrower which would be otherwise payable to such Engineer absent such event of default.

  • During the continuance of an event of default by the Contractor under the Construction Contract (following any required notice to the Contractor and the expiration of any applicable cure period), Lender shall be entitled to withhold the portion of a Disbursement to Borrower which would be otherwise payable to the Contractor absent such event of default.

Related to Disbursement to Borrower

  • Disbursement is defined in Section 2.6.2.

  • Borrower as defined in the preamble hereto.

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Authorized Borrower Representative means a person at the time designated and authorized to act on behalf of the Borrower by a written certificate furnished to the Governmental Lender, the Funding Lender, the Fiscal Agent and the Servicer and containing the specimen signature of such person and signed on behalf of the Borrower by its Borrower Controlling Entity which certificate may designate one or more alternates.