Examples of Loan Proceeds in a sentence
The Manager shall also cause the Company to retain and enter into and, at all times, be a party to written paying agency agreement with a paying agent selected by the Company (the “Paying Agent”), which Paying Agent shall receive and distribute Loan Proceeds in accordance with the applicable Custodial and Paying Agency Agreement.
The Loan Proceeds shall be repayable in full, together with any accrued interest and/or all other unpaid sums arising under the Agreement, in ten (10) equal monthly instalments which the first instalment payable on 31 March 2024 in accordance with the repayment schedule in the Agreement and in any event no later than 29 December 2024.
The interest accruing on the Loan Proceeds shall become due and payable on a monthly basis in accordance with the repayment schedule set out in the Agreement.
Trustor shall maintain complete and accurate books of account and other records (including copies of supporting bills and invoices) adequate to document the use of the Loan Proceeds and the operation of the Property, together with copies of all written contracts, Leases and other instruments which affect the Property.
The Loan Proceeds shall be used solely to fund acquisition of the Property and/or construction of the Project, and closing, escrow and other costs approved by City.