Amount and Source of Loan. The Authority hereby makes to the Borrower and agrees to fund, and the Borrower hereby accepts from the Authority, upon the terms and conditions set forth herein and in the Indenture, the Loan in an amount equal to the principal amount of the Bonds and agrees that the proceeds of the Loan shall be applied and disbursed in accordance with the Indenture and the written instructions of the Authority provided to the Trustee on the Closing Date and when the Trustee acknowledges receipt of the proceeds of the Bonds and the conditions specified in Section 3.2 hereof and in Section 2.2 of the Indenture have been satisfied.
Amount and Source of Loan. Concurrently with the delivery of the Bonds, the Issuer will, upon the terms and conditions of this Agreement, lend the proceeds of the Bonds to the Company, by deposit thereof in accordance with the provisions of the Indenture. The Bonds may be sold by the Issuer at a discount from their principal amount, and in such event, the amount of such discount shall be deemed to have been loaned to the Company. To the extent that accrued interest on the Bonds is received by the Issuer upon the sale of the Bonds and is deposited into the Bond Fund under the Indenture, such accrued interest shall be applied to the first interest payment due on the Bonds with a corresponding credit on the amounts otherwise due under the Note (as hereinafter defined).
Amount and Source of Loan. The Governmental Lender hereby makes to the Borrower and agrees to fund, and the Borrower hereby accepts from the Governmental Lender, upon the terms and conditions set forth herein, the Borrower Loan and agrees to have the proceeds of the Borrower Loan applied and disbursed in accordance with the provisions of this Borrower Loan Agreement.
Amount and Source of Loan. Concurrently with the delivery of the Bonds, the Issuer will, upon the terms and conditions of this Agreement, lend the proceeds of the Bonds to the Company, by deposit thereof in accordance with the provisions of the Indenture. The Bonds may be sold by the Issuer at a discount from their principal amount, and in such event, the amount of such discount shall be deemed to have been loaned to the Company.
Amount and Source of Loan. The City agrees to lend to the Borrower, upon the terms and conditions specified in the Note, the Note Resolution, this Agreement and the Disbursing Agreement, the proceeds received from the issuance and sale of the Note to the Lender. The Loan shall be deemed to include any discount or commission paid to or retained by the Lender from the proceeds of the Note. The form and terms of the Note as attached hereto as Exhibit A are approved by the Borrower and the City.
Amount and Source of Loan. The Issuer agrees to lend to the Company, upon the terms and conditions herein specified, the proceeds received by the Issuer from the sale of each series of Bonds, by causing such proceeds to be transferred to the Trustee for disbursement in accordance with the Indenture. For this purpose the proceeds of the Bonds (and therefore the loan) shall be deemed to include the underwriting discount, if any, or other amount by which the amount received by or on behalf of the Issuer on the original sale of any Bonds to the initial purchaser is less than the principal amount of such Bonds. The obligation of the Issuer to lend such proceeds shall be discharged, and the obligation of the Company to repay the loan shall become effective, when such proceeds are received by the Trustee from the Issuer or the Original Purchaser thereof. The Company agrees that, pending the disbursement of the proceeds of the Bonds as provided herein and in the Indenture, the Trustee shall have a security interest in the proceeds of the Bonds.
Amount and Source of Loan. Concurrently with the delivery of the Bonds, the Issuer will, upon the terms and conditions of this Agreement, lend to the Company, by deposit of the proceeds thereof in accordance with the provisions of the Indenture, an amount equal to the aggregate principal amount of the Bonds. To the extent that accrued interest on the Bonds is received by the Issuer upon the sale of the Bonds and is deposited into the Bond Fund established under the Indenture, such accrued interest shall be applied to the first interest payment due on the Bonds with a corresponding credit on the amounts otherwise due under the First Mortgage Bond (hereinafter defined).
Amount and Source of Loan. By issuance of the Bonds in ------------------------- exchange for the Prior Bonds, as described in the Indenture, the Issuer shall, upon the terms and conditions of this Agreement, be deemed to have lent to the Company an amount equal to the aggregate principal amount of the Bonds for refunding the Prior Bonds. Any accrued interest received by the Issuer upon the sale of the Bonds shall be deposited into the Bond Fund under the Indenture and shall be applied to the first interest due on the Bonds, with a corresponding credit on the amounts otherwise due under the Note.
Amount and Source of Loan. Concurrently with the delivery of the Bonds, the Issuer will, upon the terms and conditions of this Agreement, lend to the Company, by deposit of the proceeds thereof in accordance with the provisions of the Indenture, an amount equal to the aggregate principal amount of the Bonds. To the extent that accrued interest on the Bonds is received by the Issuer upon the sale of the Bonds and is deposited into the Bond Fund under the Indenture, such accrued interest shall be applied to the first interest payment due on the Bonds with a corresponding credit on the amounts otherwise due under the Note (hereinafter defined).
Amount and Source of Loan. The Issuer hereby lends to the Company, and the Company hereby borrows from the Issuer, upon the terms and conditions specified herein, the Bond Proceeds, which shall be applied in accordance with Section 3.01. The outstanding principal amount of the Loan shall at all times be in balance with the principal amount of the Bonds Outstanding.
