Examples of Loan Account in a sentence
The Administrative Agent retains the right at all times after the occurrence and during the continuance of a Default or an Event of Default to notify Account Debtors that a Loan Party’s Accounts have been assigned to the Administrative Agent and to collect such Loan Party’s Accounts directly in its own name, or in the name of the Administrative Agent’s agent, and to charge the collection costs and expenses, including reasonable attorneys’ fees, to the Loan Account.
Notwithstanding any other provision of this Loan Agreement, no withdrawals shall be made from the Loan Account until the Project director acceptable to ADB shall have been engaged and the PMU established and made operational in a manner satisfactory to ADB.
Notwithstanding any other provision of this Loan Agreement, no withdrawals shall be made from the Loan Account for Categories 1-8 until ADB has received the respective Relending Agreement executed between the Borrower and the respective DISCO in a form and substance satisfactory to ADB.
The following is specified as an additional event for suspension of the right of the Borrower to make withdrawals from the Loan Account for the purposes of Section 8.01(m) of the Loan Regulations: the Borrower shall have failed to perform any of its obligations under the Program Loan Agreement or the Project Grant Agreement.
If as the result of such application of funds a credit balance exists in the Loan Account, such credit balance shall not accrue interest in favor of Borrowers but shall, so long as no Default or Event of Default then exists, be disbursed to Borrowers or otherwise at Borrower Agent’s direction, upon Borrower Agent’s request.