Funds Release Date definition

Funds Release Date means each date upon which Borrower requests a disbursement of the Term Loan Proceeds Amount in accordance with Section 2.21(c)(i).
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Funds Release Date means any day on which a Funds Release occurs, provided, however, that (i) in the case of each Funds Release made pursuant to a Funding Request or Final Funding Request, as the case may be, delivered other than in May or November, the Funds Release Date shall occur on the first (1st) Business Day of the month that immediately follows the month during which delivery of such Funding Request or Final Funding Request, as the case may be, occurred, and (ii) in the case of each Funds Release made pursuant to a Funding Request or Final Funding Request, as the case may be, delivered in May or November, the Funds Release Date shall occur on the second to last Business Day of the month during which delivery of such Funding Request or Final Funding Request, as the case may be, occurred;
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Examples of Funds Release Date in a sentence

  • If, on or prior to the Deposit Control Account Funds Release Date, the Company shall fail to deliver a Deposit Control Account Release Notice to the Holder, then, at the election of the Holder only, the Company and the Holder shall, as soon as practicable and in accordance with the terms of Deposit Control Agreement, cause the Deposit Control Account Funds to be released from the Deposit Control Account and deposited into a bank account specified in writing by the Holder in the Deposit Control Agreement.

  • Until the County Funds Release Date, the Port District shall use the County Sweetwater Park Funds only for Remaining Phase 1A Infrastructure Improvements Costs.

  • On the Closing Date, the Administrative Agent shall deposit a portion of the proceeds of the Term Loans equal to the Term Loan Proceeds Amount into the Term Loan Proceeds Account and such proceeds shall be held therein until the earlier to occur of any Funds Release Date or the Special Prepayment Date, when such funds shall be applied as contemplated by this Agreement.

  • On and after the County Funds Release Date, all amounts in the County Funded Bayfront Improvements Subaccount shall be available for withdrawal and use by the Authority for any purpose as may be agreed to by the City and the Port District from time to time without any obligation to confer with or obtain consent from the Developer.

  • On and after the County Funds Release Date, all amounts in the County Funded Developer’s Phase 1A Subaccount shall be available for withdrawal and use by the Authority for any purpose as may be agreed to by the City and the Port District from time to time without any obligation to confer with or obtain consent from the Developer.

  • Any such funds retained in escrow after the Indemnification Escrow Funds Release Date pursuant to the previous sentence shall be disbursed only in accordance with the terms of clauses (i) or (ii) of Section 2(a) hereof.

  • Until the County Funds Release Date, the Port District shall request and use amounts from the Sweetwater Park Subaccount only for Remaining Phase 1A Infrastructure Improvements Costs incurred or to be incurred to Sufficiently Complete the Remaining Phase 1A Infrastructure Improvements.

  • Pursuant to Section 5.4.4, following 75% Completion and until the County Funds Release Date, the Developer, the Port District, and the City shall mutually agree with respect to the use of amounts on deposit in the County Funded Bayfront Improvements Subaccount.