Advance of Loan Proceeds Sample Clauses

Advance of Loan Proceeds. (a) The Department agrees to advance to the Borrower pursuant to this Agreement up to One Million Forty-Two Thousand Six Hundred Ninety-Five Dollars ($1,042,695) to pay Project Costs in accordance with the Project Budget.

Advance of Loan Proceeds. 5.1 Upon execution of this Agreement, Party B may send a notice to Party A for advance of the loan either on one-time basis or, according to business needs of Shanghai Nianqiao, by stages. 5.2 Party A shall, within ten (10) banking days, advance the sum specified in the loan advance notice to Party B’s designated account on a lump-sum basis and by means permitted by laws and regulations, and deliver a scan document of remittance to Party B.

Advance of Loan Proceeds. Lender shall, subject to compliance with all of the other terms, conditions and provisions of this Agreement, make a disbursement of a portion of the Loan Proceeds (“Initial Loan Advance”) at closing in an amount mutually agreed upon between Lender and Borrower.

Advance of Loan Proceeds. Subject to terms and upon the conditions specified herein, the Lender shall advance the proceeds of the Loan to the Borrower in accordance with the instructions set forth in the Drawdown Notice.

Advance of Loan Proceeds. Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage of the Loans. Each Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 1:00 p.m. on the Closing Date. Upon satisfaction of the applicable conditions set forth in Article V and subject to Section 2.08 hereof, the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower.

Advance of Loan Proceeds. Each Lender shall severally, subject to compliance with all of the other terms, conditions and provisions of this Agreement, make a disbursement of its respective Pro Rata Share of the Loan Proceeds (“Loan Advances”) entirely at closing.

Advance of Loan Proceeds. Subject to the terms of this Agreement, the Lender shall make the proceeds of the Loan available to the Borrowers on the Drawdown Date by paying the proceeds thereof to the Borrowers or such other parties in payment of such sums which the Borrowers and the Lender agree are due to such parties as costs associated with the acquisition and/or financing of the Vessels. The Borrowers hereby unconditionally and irrevocably authorizes the Lender to make the payments specified in such Drawdown Notice.

Advance of Loan Proceeds. Subject to Xxxxxxxx's fulfillment of each of the conditions precedent set forth below, Lenders shall advance the proceeds of the Loan (in the amount of One Million Five Hundred Thousand Dollars ($1,500,000.00)) to or for the benefit of Borrower precisely in the manner set forth below; provided that the Lenders shall be jointly and severally obligated to advance the full loan proceeds in the amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) hereunder. The Loan shall be advanced by Lenders to permit the Borrower to purchase all of the outstanding equity securities of the businesses in the United Kingdom referred to as Palm Technologies Holdings Limited (and with it its wholly-owned subsidiary, Relay Systems) on account of the purchase price under the Purchase Agreement (as hereinafter defined) in one disbursement in the amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) Dollars by wire transfer initiated before 10:05 A.M. Eastern Standard Time on March 19, 1999 (the "Closing Date") to the following account: Name: Firstar Bank Milwaukee, NA Address: 000 Xxxx Xxxxxxxxx Xxx. Milwaukee, WI Routing Numbers: 000000000 For Further Credit To: Firstar Minnesota ABA: 000000000 Beneficiary: Xxxxxxxxxxx, Xxxxx and Xxxxxxxx Beneficiary Account: 0000000 The Lenders understand that time is of the essence regarding this advance as Borrower will be unable to close the purchase of the aforesaid shares unless Lenders initiate their $1.5 million wire transfer to the above account prior to 10:05 A.M. Eastern Standard Time on March 19, 1999.

Advance of Loan Proceeds. The Lenders shall, subject to compliance with all of the other terms, conditions and provisions of this Agreement, make disbursement of a portion of the Loan proceeds on a pro rata basis in accordance with each Lender's Commitment Percentage, not to exceed the least of (i) sixty-five percent (65%) of the cost of acquisition of the Property; (ii) sixty-five and one-half percent (65.5%) of the "as is" Value of the Property (which value shall only be based upon the income producing parcels of the Property); and (iii) $31,500,000.00, at closing in connection with the acquisition of the Property (the "Initial Advance"). Subsequent to the Initial Advance, the Lenders shall make disbursement of the remaining Loan proceeds of up to $13,200,000.00 (the "Additional Amount") on a pro rata basis in accordance with each Lender's Commitment Percentage ("Loan Advances") to fund up to (a) $11,500,000.00 to fund up to 100% of approved tenant improvement costs and leasing commissions (the "Leasing Cost Advances") incurred during the initial three-years of the Loan on currently vacant space at the Property or the space presently leased by General Motors Corporation if General Motors Corporation renews its lease at the Property, to be advanced based upon a formula of $40.50 per square foot of the vacant space involved, and (b) $1,700,000.00 to fund contingency leasing costs during the first three (3) years of the Loan in the event that General Motors Corporation vacates the Project (the "GM Costs Advances") to be advanced based upon a formula of $16.00 per square foot of the vacant space involved upon satisfaction of each of the following conditions:

Advance of Loan Proceeds. Lender shall, subject to compliance with all of the other terms, conditions and provisions of this Agreement, make disbursement of the Loan proceeds entirely at closing subject, HOWEVER, to the requirement that Borrower, contemporaneously with the closing, shall pledge to and deposit with Lender the sum of $500,000.00 as more particularly provided in Section 3.1.6.2 hereof. Lender shall invest such sum in Lender-issued certificates of deposit with rolling six-month maturities.