Common use of Amount and Source of Loan Clause in Contracts

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.