Examples of Disbursing Agreement in a sentence
If required by the City, the Borrower immediately will deposit all Loan proceeds advanced by the City in a separate and exclusive demand deposit account with a financial institution acceptable to the City, and the City, at its option, may make any advance directly to such account with the Title Company in accordance with the Escrow and Disbursing Agreement (with the date of the deposit being the date of the advance for all purposes).
All draw disbursements shall be made in accordance with the Escrow and Disbursing Agreement.
The Authority and StadCo shall enter into the Disbursing Agreement with the Disbursing Agent for the purpose of receiving funds from the Trust as remitted by the Trustee to pay for or reimburse the payment of Project Costs in accordance with the terms and conditions set forth in this Agreement.
Pursuant to the Disbursing Agreement, the Disbursing Agent shall provide payment instructions, which shall include: (1) receiving bank name, (2) receiving bank ABA number, (3) Disbursing Agent account number, (4) Disbursing Agent account name and (5) Disbursing Agent street address.
In the event that, for any reason, funds in the NFL G-4 Subaccount are not advanced to pay Project Costs as provided in Section 3.4 hereof and are returned by Disbursing Agent to the Trustee in accordance with the terms of the Disbursing Agreement, the Trustee shall return said funds directly to Ventures within one (1) Business Day after receipt from the Disbursing Agent pursuant to the wire instructions set forth on Exhibit E, as may be modified by Ventures in writing from time to time.