Draw definition

Draw means the disbursement of funds to a Development.

Draw for any Mortgage Loan means an additional borrowing by the mortgagor after the Cut-off Date, in accordance with the related Mortgage Note.

Draw means, with respect to each HELOC, an additional borrowing by the Mortgagor in accordance with the related Credit Line Agreement.

Examples of Draw in a sentence

• Additionally, all covenants of Eligible Entity set forth in Section 2 of the Agreement are incorporated herein by reference and Eligible Entity, on the date hereof, is not, and on the date of each Capital Draw hereunder, shall not be in breach of any such covenants.

• Eligible Entity represents and warrants that the representations and warranties set forth in the Agreement, on the date hereof, are, and on the date of each Capital Draw hereunder, shall be, true, correct, accurate and complete in all material respects.

• Any architect engaged by the City’s Inspection Department, the City's Housing Inspector, and the Project Manager shall have approved the Borrower's Draw Request.

• Each Draw Request shall constitute an affirmation that the representations and warranties of this Article VI remain true and correct as of the date hereof, and, unless the City is notified to the contrary prior to the disbursement of the requested advance or any position thereof, shall constitute an affirmation that the same remain true and correct on the date of such disbursement.

• All Loan proceeds shall be withdrawn and used solely for the purposes specified in the Draw Request, and Borrower will promptly furnish the City with evidence thereof.

More Definitions of Draw

Draw. With respect to any Mortgage Loan, an additional borrowing by the Mortgagor subsequent to the Cut-Off Date in accordance with the related Credit Line Agreement.

Draw. With respect to any Mortgage Loan, a borrowing by the related Mortgagor under the related Loan Agreement.

Draw means the approved selection process by which the winner(s) are determined on a random basis.

Draw means in draw poker, the taking of additional cards by a player; Eff 10/30/2008

Draw means the disbursement of funds to a HOME Project.

Draw. With respect to any HELOC, a borrowing by the related Mortgagor under the related Loan Agreement.

Draw. With respect to any HELOC Mortgage Loan, an additional borrowing by the Mortgagor subsequent to the Cut-Off Date in accordance with the related Credit Line Agreement.