Loan Disbursement. Subject to the satisfaction of the terms and conditions herein contained, the Loan Proceeds shall be disbursed as follows:
Loan Disbursement. 11.3.1 Not later than 1:00 P.M. (Eastern time) on the Closing Date each Lender shall make available to Agent, the full amount of such Lender's Commitment in immediately available funds. Unless Agent shall have been notified by any Lender prior to such time for funding that such Lender does not intend to make available to Agent such Lender's Loan, Agent may assume that such Lender has made such amount available to Agent. In any case where a Lender does not for any reason make available to Agent such Lender's Loan, Agent, in its sole discretion, may, but shall not be obligated to, fund to Borrower such Lender's Loan. If the amount so funded by Agent is not in fact made available to Agent by the responsible Lender, then Borrower agrees to repay to Agent such amount, together with interest thereon at the Base Rate for each day from the date such amount is made available to Borrower until the date such amount is repaid to Agent, not later than three (3) Business Days following Agent's demand to Borrower that such repayment be made. In addition, such Lender agrees to pay to Agent forthwith on demand such corresponding amount, together with interest thereon at the Federal Funds Rate. If such Lender shall pay to Agent such corresponding amount, such amount so paid shall constitute such Lender's Loan, and if both such Lender and Borrower shall have paid and repaid, respectively, such corresponding amount, Agent shall promptly return to Borrower such corresponding amount in same day funds; interest paid by Borrower in respect of such corresponding amount shall be prorated, as of the date of payment thereof by such Lender to Agent. In the event that Agent shall not have funded such Lender's Pro Rata Share under this SECTION 11.3.1, then Borrower shall not be obligated to accept a late funding of such Lender's Pro Rata Share if such funding is made more than two (2) Business Days following the applicable Funding Date. If Borrower declines to accept such delinquent funding, Agent shall promptly return to such Lender the amount of such funding. Nothing in this SECTION 11.3.1 shall alter the respective rights and obligations of the parties hereunder in respect of a Defaulting Lender.
Loan Disbursement. (i) The Loan shall be disbursed by the Lenders on the Effective Date, in accordance with the terms and conditions hereof, pro rata in proportion to their respective Pro Rata Shares.
Loan Disbursement. At closing, Lender shall advance the entirety of the proceeds of the Loan into the escrow established by Borrower in connection with Borrower’s acquisition of the Property.
Loan Disbursement. 2.1. Under this agreement (further referred to as the “Agreement”), the Lender shall grant the Borrower a loan amount described in Section 1.4.
Loan Disbursement. 3.1 A loan may be disbursed to the extent of the available balance of the loan commitment as determined using the following formula: ACB = TC – (LCO + LPR), where ACB means the Available Commitment Balance; TC means the Total Commitment as determined in Clause 1.1 hereof; LCO means the Loans Currently Outstanding; LPR means the Loans Previously Repaid. Repayment of a loan shall not serve to increase the available balance of the loan commitment.
Loan Disbursement. Subject to the satisfaction of the terms and conditions contained in this Section 4, the Initial Advance shall be disbursed at Closing. The Interest Reserve shall be disbursed in accordance with Section 2.20.
Loan Disbursement. Upon satisfaction of the conditions to disbursement set forth in Section 4.1 below and pursuant to the disbursement procedures set forth in Section 4.2 below, the County, through the approved Escrowholder, will cause the disbursement of the Loan as provided for in Section 4.2.
Loan Disbursement. The disbursement of all Loans will be made in accordance with the terms of this Agreement.
Loan Disbursement. Following the satisfaction of all of the conditions precedent set forth in Section 3, Lender shall fully disburse the Loan as set forth in Section 1.4 above to Borrower. The Loan shall be evidenced by the Note and secured by the Pledged Collateral and the other Loan Documents.
