Funding of Loan. Each Lender party hereto on the Agreement Date shall deposit an amount equal to its Commitment with the Administrative Agent at the Principal Office, in immediately available funds not later than 10:00 a.m. on the Effective Date. Subject to fulfillment of all applicable conditions set forth herein, the Administrative Agent shall make available to the Borrower in the account specified in the Disbursement Instruction Agreement, not later than 1:00 p.m. on the Effective Date, the proceeds of such amounts received by the Administrative Agent.
Funding of Loan. Within five (5) business days from the Effective Date, Lender will disburse the Loan Amount by one or more wire transfers of immediately available funds to Borrower. The date upon which such wire transfer is completed and fully accumulated on the bank account of the Borrower will be the "Funding Date."
Funding of Loan. Not later than 11:30 am. (San Francisco time) on the Closing Date and subject to and upon fulfillment of the applicable conditions set forth in
Funding of Loan. Subject to the terms, provisions and conditions of this Agreement and the other Loan Documents, including, without limitation, satisfaction of the conditions precedent set forth in Section 3.1.1 hereof, on the Effective Date, Borrower agrees to borrow from Lender, and Lender shall disburse to Borrower from the proceeds of the Loan the sum of FOUR MILLION THREE HUNDRED EIGHTY-FIVE THOUSAND AND NO/100 DOLLARS ($4,385,000.00) which shall be used for paying (A) the cost of paying off any existing financing secured by an encumbrance on the Assets, (B) out‑of‑pocket fees, costs and expenses incurred by Lender in connection with the Loan transaction, including, without limitation, all appraisal, title, escrow, engineering, environmental and attorneys’ fees and expenses (collectively, the "Lender Expenses"), (C) the Loan Commitment Fee, (D) establishment of the Tax and Insurance Reserve and (E) fees payable to the broker named in Section 12.27 of this Agreement. Borrower hereby authorizes Lender to disburse on the Effective Date such Loan proceeds directly to Lender as are necessary to pay the Lender Expenses and the Loan Commitment Fee.
Funding of Loan. Upon the satisfaction of the conditions set forth in Section 5, each of the Lenders (severally and not jointly) agrees to advance to Borrowers such Lender's Pro Rata Share of a term loan (the “Loan”) in one advance to Borrower on the Closing Date in the aggregate amount of the Maximum Facility.
Funding of Loan a. Subject to compliance with the terms hereof and the Financing Agreements, Lender shall advance the Loan to IEL from time to time as required by IEL's manager and HIIC's affiliate, Xxxxxx'x Interactive Entertainment Company ("HIEC"), (each, a "Funding Date") during the period from the date hereof through the earlier of (i) the consummation of the Subsidiary Amalgamation and (ii) June 21, 1997. Funding shall occur as requested by HIEC as necessary to fund IEL's immediate working capital needs. Upon consummation of the Subsidiary Amalgamation, Outstanding Amounts (as defined in the Note) under the Note shall automatically convert into shares of common stock, $.01 par value, of SGI ("Common Stock") and HIIC shall receive a warrant to purchase shares of Common Stock in an amount equal to the difference between (x) one million shares of Common Stock and (y) any Common Stock received pursuant to the conversion of Outstanding Amounts under the Note.
Funding of Loan. On and after the Effective Date, Enerfund will disburse the Loan Amount by one or more wire transfers of immediately available funds to Net Element. The date upon which such wire transfer is completed will be a “Funding Date.”
Funding of Loan. Each Lender shall make its Percentage Share of the Loan available to the Administrative Agent, in same-day funds, on the Closing Date at the Contact Office, ABA 000-000-000 for the Administrative Agent’s Account No. 00-000-000, Ref: CNL Hotels & Resorts, no later than 12:00 p.m. (New York time) on the Closing Date.
Funding of Loan. Not later than 1:00 p.m. (New York City time) on the date of an advance under the Loan, the Bank shall make such advance available to the Borrower by promptly crediting the amount thereof, in funds immediately available, by wire transfer, automated clearing house debit or interbank transfer to the Agent under the Revolving Credit Agreement for application as a prepayment of the amounts outstanding thereunder.
Funding of Loan. By each of February 5, 2008 and March 31, 2008, the Lender shall deliver Seven Hundred and Fifty Thousand U.S. Dollars ($750,000) to Ener1 Group by wire transfer of immediately available funds to such account as Ener1 Group shall have designated to the Lender (each such payment being referred to herein as a “Loan Tranche”). The date on which each Loan Tranche is delivered to Ener1 Group is referred to herein as a “Funding Date”.
