Loan Proceeds definition

Loan Proceeds means funds disbursed by Lender on account of the Loan and pursuant to this Loan Agreement.

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Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

Loan Proceeds means the proceeds of the Loan in the maximum principal amount set forth in this Agreement.

Examples of Loan Proceeds in a sentence

• Notwithstanding the foregoing Sections 6.2 and 6.3, at no time shall any funds be retained in the Operating Account or any reserve account to the extent that Lender determines such Loan Proceeds would result in five percent (5%) or more of the average of the unadjusted bases of the Project’s property being attributable to nonqualified financial property, as determined pursuant to Section 45D(d)(2)(A)(v) of the Code and Section 1.45D-1(d)(4)(i)(E) of the Treasury Regulations.

• Borrower shall use Loan Proceeds solely to pay, or to reimburse Borrower or an affiliate for paying, Costs and expenses incurred by Borrower in connection with the construction, development, and operation of the Project, together with other expenses set forth on the Budget and such incidental costs and expenses relating thereto approved in writing by ▇▇▇▇▇▇, which consent shall not be unreasonably withheld.

• On the Closing Date and upon satisfaction of all requirements of Lender and the terms of the Flow of Funds Memorandum, Lender shall advance its Loan Proceeds to Borrower.

• Operating Account and Use of Loan Proceeds ......................................................28 6.1 Purpose and Security for Loans ............................................................................

• The advance of any Loan Proceeds hereunder shall not constitute a waiver of any Lender’s right to require compliance with this covenant.

More Definitions of Loan Proceeds

Loan Proceeds means the funds disbursed to a Borrower pursuant to a Loan Account established by Bank under the Program.

Loan Proceeds means the funds applied to make the loan to the Borrower pursuant to this Agreement.

Loan Proceeds means the total amount of money to be paid pursuant to Section 2.02 hereof by Lender to Escrow Agent for deposit and application in accordance with the Escrow Agreement.

Loan Proceeds means all of the following: (i) any and all proceeds with respect to any or all of the Loans and any or all of the Underlying Collateral, including principal, interest, default interest, prepayment fees, premiums and charges, extension and exit fees, late fees, assumption fees, other fees and charges, insurance proceeds and condemnation payments (or any portion thereof) that are not used and disbursed to repair, replace or restore the related Underlying Collateral in accordance with the terms of the Loan Documents and the Ancillary Documents, and, with respect to any Acquired Property, operating cash flow realized from such Acquired Property net of Servicing Expenses, whether paid directly to the Company or payable to or distributed by an Ownership Entity; (ii) any and all proceeds from sales or other dispositions or refinancings of any or all of the Loans (including Acquired Property) net of Servicing Expenses incurred in connection with such sale or other disposition or refinancing; (iii) any proceeds from making a draw under any letter of credit or certificate of deposit held with respect to any Loan, provided that such draw is permitted by the terms of the Loan Documents;

Loan Proceeds means the aggregate Advances made by the Lenders to the Borrower pursuant to the Loan Documents.

Loan Proceeds has the meaning given that term in the LLC Operating Agreement. “Loan Schedule” has the meaning given that term in the recitals.

Loan Proceeds means all funds advanced by Lender as an Advance to Borrower under this Agreement.