Advance of Loans. (a) Upon a Loan made available by each Lender pursuant to clause 5.4 (Lender’s participation), the proceeds under such Loan shall be applied as follows:
(i) in respect of a Facility A Loan
(A) if the amount of a Facility A Loan equals or exceeds (the lower of) RMB 5,000,000 or 5% of Total Investment Amount of the Project SZ1, the Consigned Disbursement shall apply, and upon the proceeds being credited in the Facility A Loan Disbursement Account, the Facility Agent shall immediately thereafter remit such proceeds to the account of the payee(s) in accordance with the Facility A Utilisation Request;
(B) if the amount of a Facility A Loan is less than (the lower of) RMB 5,000,000 or 5% of Total Investment Amount of the Project SZ1, the Self-controlled Disbursement shall apply, and all proceeds under such Facility A Loan shall be credited into the Facility A Disbursement Account, and the Borrower may use such Facility A Loan proceeds at its own discretion pursuant to the terms of this Agreement.
(ii) in respect of a Facility B Loan:
(A) if the amount of a Facility B Loan equals or exceeds (the lower of) RMB 5,000,000 or 5% of Total Investment Amount of the Project SZ2, the Consigned Disbursement shall apply, and upon the proceeds being credited in the Facility B Loan Disbursement Account, the Facility Agent shall immediately thereafter remit such proceeds to the account of the payee(s) in accordance with the Facility B Utilisation Request;
(B) if the amount of a Facility B Loan is less than (the lower of) RMB 5,000,000 or 5% of Total Investment Amount of the Project SZ2, the Self-controlled Disbursement shall apply, and all proceeds under such Facility B Loan shall be credited into the Facility B Disbursement Account, and the Borrower may use such Facility B Loan proceeds at its own discretion pursuant to the terms of this Agreement.
(iii) in respect of a Facility C Loan:
(A) if the amount of a Facility C Loan equals or exceeds (the lower of) RMB 5,000,000 or 5% of Total Investment Amount of the Project SZ3, the Consigned Disbursement shall apply, and upon the proceeds being credited in the Facility C Loan Disbursement Account, the Facility Agent shall immediately thereafter remit such proceeds to the account of the payee(s) in accordance with the Facility C Utilisation Request;
(B) if the amount of a Facility C Loan is less than (the lower of) RMB 5,000,000 or 5% of Total Investment Amount of the Project SZ3, the Self-controlled Disbursement shall apply, and a...
Advance of Loans. (a) The Facility Agent must promptly and in any event three (3) Business Days before the proposed date for the borrowing notify each Lender of the details of the requested Drawing and the amount of its share in that Drawing.
(b) The amount of each Lender’s share of the Loan will be its Pro Rata Share on the proposed Utilisation Date.
(c) No Lender is obliged to participate in a Drawing if, as a result, its share in the Loans would exceed its Commitment.
(d) If the conditions set out in this Agreement have been met, each Lender must make its share in the Drawing available by the Utilisation Date through its Facility Office.
Advance of Loans. (a) The Facility Agent must promptly and in any event one (1) Business Day before the Rate Fixing Day notify each Lender of the details of the requested Loan and the amount of its share in that Loan.
(b) The amount of each Lender’s share of the Loan will be its Pro Rata Share on the proposed Utilisation Date.
(c) No Lender is obliged to participate in a Loan if, as a result, its share in the Loans would exceed its Commitment.
(d) If the conditions set out in this Agreement have been met, each Lender must make its share in the Loan available by the Utilisation Date through its Facility Office.
Advance of Loans. (a) The Facility Agent must promptly notify each Lender of the details of the requested Loan and the amount of its share in that Loan.
(b) The amount of each Lender’s share of the Loan will be its Pro Rata Share on the proposed Utilisation Date.
(c) No Lender is obliged to participate in a Loan if, as a result, its share in the Loans would exceed its Commitment or the Loans would exceed the Total Commitments.
(d) If the conditions set out in this Agreement have been met, each Lender must make its share in the requested Loan available by the Utilisation Date through its Facility Office.
Advance of Loans. Subject to the terms and conditions set forth in this Agreement, Lenders hereby severally agree to make the Loans to Borrower on the Closing Date. Loans under this Agreement shall be made by Lenders simultaneously and in the full amount of their respective Commitments, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan hereunder and that the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a Loan. The Loans may be voluntarily prepaid pursuant to SECTION 2.6.1 and, any amounts so prepaid may not be reborrowed. The principal balance of the Loans shall be payable in full on the Termination Date. The Loans will be evidenced by the Loan Notes.
Advance of Loans. Subject to the terms of this Agreement, each Bank shall make its participation in each Loan available to the Agent for the Borrower on the relevant Drawdown Date.
Advance of Loans. The Agent shall promptly notify each Lender of the details of the requested Loans. Subject to the terms of this Agreement:
(a) If applicable, the respective Lender(s) shall on the relevant date for borrowing specified in the Request for Disbursement make or cause to be. made through its Lending Office an advance in United States Dollars to the Borrower;
(b) Subject to paragraph (a) above, each of the Lenders shall either on the relevant date for borrowing specified in the Request for Disbursement (“the Requested Disbursement Date”) pay the amount of its participation in the Loans into an account of the Borrower with such Lender or make such participation available to the Agent not later than the Business Day immediately preceding the Requested Disbursement Date. The amount of a Lender’s participation in the Loans will be the proportion of such Loans which its Commitment in respect of such Loans bears to all Commitments for such Loans. Every advance made by a Lender and applied in accordance with (a) of this clause 5.3 shall be deemed to be a borrowing in accordance with that Lender’s Commitment.
Advance of Loans. (a) The Facility Agent must promptly and in any event one (1) Business Day before the Rate Fixing Day notify each Lender of the details of the requested Drawing and the amount of its share in that Drawing.
(b) The amount of each Lender's share of the Loan will be its Tranche A Pro Rata Share and/or Tranche B Pro Rata Share, on the proposed Utilisation Date.
(c) No Lender is obliged to participate in a Drawing if, as a result, its share in the Loans would exceed its Commitment.
(d) If the conditions set out in this Agreement have been met, each Lender must make its share in the Drawing available by the Utilisation Date through its Facility Office.
Advance of Loans. Each Lender acknowledges that on the Drawdown Date, the Paying Agent may, unless notified by any Lender that its Loan will not be advanced, make available to Southland the full amount of the drawdown without prior confirmation of actual receipt of funds from each Lender. In the event any Lender shall not make available its Commitment, such Lender agrees to pay to the Paying Agent the amount of the costs reasonably incurred in obtaining and maintaining funds to cover the deficiency and such Lender agrees that during the period when the cost of such funding is borne by another party, that party shall be entitled to the interest on the Loans unless and until the funding and costs of funding are paid to the satisfaction of the Paying Agent by the Lender which has breached its Commitment.
Advance of Loans. During the period from the date hereof through and including the date that is two (2) years after the Closing Date (the “Availability Period”), subject to the conditions set forth in Section 2(b), each Lender will make advances to Borrower (“Loans”) in an aggregate amount at any time outstanding not to exceed such Lender’s pro rata share of the Commitment, as set forth on Schedule 1. This is not a revolving line of credit, and any amount of the Loans repaid may not be reborrowed.
