Proposed Disbursement Date definition
Examples of Proposed Disbursement Date in a sentence
If the Base Loan Period is a period other than any integral number of months, the Maturity Date shall be the last day of the period reckoned by day count from the Proposed Disbursement Date (inclusive); provided, however, that the Borrower may not designate such a Base Loan Period ending on a day that is not a Business Day.
Notwithstanding the foregoing, if an application for another Advance pursuant to Article 5 is made during the period from the date (inclusive) of receipt of such a request from such a Lender with Increased Costs through the delivery date (inclusive) of the notice to terminate the Commitment of such a Lender with Increased Costs, the Borrower may not terminate the Commitment of such a Lender with Increased Costs until the Proposed Disbursement Date for such an application for the Advance.
Notwithstanding the foregoing, in the event the Proposed Disbursement Date is the last Business Day of a calendar month or the day corresponding to the Proposed Disbursement Date does not exist in the calendar month concerned, the Maturity Date shall be the last Business Day of the calendar month after the number of months in the Base Loan Period from the month to which the Proposed Disbursement Date belong.
During the Commitment Period, each Lender shall owe its Commitment, subject to satisfaction of all the following conditions (irrespective of whether or not the notice pursuant to Article 8(1) has been made) as of such Proposed Disbursement Date.
When the Agent receives a Request for Borrowing from the Borrower, the Agent shall forward such a Request for Borrowing so submitted via facsimile to the Lenders on at least three (3) Business Days prior to the Proposed Disbursement Date.
In the case of multiple Advances on a single Proposed Disbursement Date and if notwithstanding that all conditions precedent set forth in Article 6(i) through (vi) were satisfied on the Proposed Disbursement Date, the amount credited to the Syndicate Account on the Proposed Disbursement Date falls short of the aggregate amount of the Individual Advance Amounts which should have been provided by a Lender, the Agent shall determine in its reasonable discretion which of such Advances has been duly provided.
The Borrower shall return to the Agent forthwith the amount remitted to the Syndicate Account on such a Proposed Disbursement Date.
PURCHASER: ________________________, a ________________________ By: Name: Its: ADDITIONAL SELLER: ________________________, a ________________________ By: Name: Its: [NAME OF TITLE COMPANY] [ADDRESS] ESCROW TRUST NO.: DATE: _______, 20__ Seller: Purchaser: Project Reference: Proposed Disbursement Date: ______________, 2011 The sum of $________________ representing ▇▇▇▇▇▇▇ Money.