Examples of Initial Funding Lender in a sentence
In consideration of the origination and funding of the Funding Loan by the Initial Funding Lender, the provisions of this Funding Loan Agreement shall be part of the contract of the Governmental Lender with the Initial Funding Lender and any successors or assigns thereof in such capacity from time to time.
Unless the Fiscal Agent is instructed otherwise by the Initial Funding Lender, the Fiscal Agent shall automatically transfer amounts in the Borrower Equity Account of the Project Loan Fund to the Loan Payment Fund to pay interest on the Project Loan and Funding Loan without any need for a Requisition or other written direction.
The Funding Loan, as evidenced by the Governmental Note, shall initially be registered to the Initial Funding Lender.
Notwithstanding any provision in this paragraph (a) to the contrary, during the Construction Phase, the Initial Funding Lender may direct from time to time draws on any Governmental Note to pay accrued but unpaid interest with respect to such Governmental Note, and such draws shall be deemed to constitute corresponding draws on the related Project Note for the payment of the corresponding interest on the Project Loan.
The Funding Loan shall be originated and funded by the Initial Funding Lender to the Governmental Lender in accordance with Section 2.01(b) below.