Initial Disbursement definition

Initial Disbursement has the meaning ascribed to such term in Section 3.1.

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Initial Disbursement has the meaning set forth in Section 2.2(a).

Initial Disbursement means disbursement to the Property Owner of the portion of the Funding Amount requested in the Funding Request of up to ten percent of the Estimated Cost in advance of completion of the Work, in accordance with Section 5;

Examples of Initial Disbursement in a sentence

• An Initial Disbursement, as defined below, to Recipient shall be permitted by Sponsor once all conditions specified in Section 10 of this Agreement have been satisfied.

• The Loan shall bear interest at a rate of one percent (1%) per annum and shall commence to accrue as of the Initial Disbursement Date.

• The amount of the Initial Disbursement shall be determined, as set forth in Section 10 below.

• Payments of principal and interest on the nonforgiveable portion of the Loan shall commence on the first day of the first month immediately following the Initial Disbursement Date and shall continue on the first day of each and every month thereafter until the Loan is paid in full.

• All funds must be disbursed within a twelve-month period of the Initial Disbursement Date with a maximum of three disbursements.

More Definitions of Initial Disbursement

Initial Disbursement means that portion of the Funds that may be disbursed to the Recipient after the Closing Date for reimbursement in connection with expenses for Eligible Uses incurred by the Recipient as of January 1, 2015 through the Effective Date.

Initial Disbursement means the amount of the initial funding of the Bonds on the Closing Date, as set forth in a Receipt for Promissory Note and Acknowledgement of Funding of Bonds executed by the Bondowner Representative and delivered on the Closing Date.

Initial Disbursement means the disbursement to the Property Owner(s) of the portion of the Approved Funding Amount of up to twenty per cent (20%) of the Estimated Cost in advance of the completion of the Intended Home Improvements;

Initial Disbursement means the first Disbursement following the Agreement Date.

Initial Disbursement has the meaning set forth in Section 2(c)(i) below.

Initial Disbursement shall have the meaning ascribed to it in Section 3(b)(i).

Initial Disbursement means the initial advance of the principal of the Bank Loan on the Closing Date in respect of Governmental Lender Tax-Exempt Note, in the amount specified by the Bank on the Closing Date (which shall be an amount no less than $50,001).