Application for Advances. The Member may apply for Advances or commitments by completing and submitting an Application for Advance or requesting Other Credit Product services. The preceding sentence notwithstanding, the Bank may in its discretion make an Advance, make a commitment, or deliver Other Credit Products to the Member pursuant to the Bank Act, FHFB Regulations, Credit Policies, and other Bank procedures in effect from time to time, and by either (1) the receipt of an oral or written application which is executed
Application for Advances. The Member may apply for Advances or commitment by completing and submitting an Application for Advance or requesting Other Credit Product services. The preceding sentence notwithstanding, the Bank may in its discretion make an Advance, make a commitment, or deliver Other Credit Products to the Member pursuant to the Bank Act, FHFB Regulations, Credit Policies, and other Bank procedures in effect from time to time, and by either (i) the receipt of an oral or written application which is executed by the Bank without change, or (ii) in the case of an application received, completed or modified by the Bank pursuant to a telephonic or other unsigned communication by the Member, by an Advise of Credit writing generated by the Bank. The Member shall be estopped from asserting any claim or defense with respect to the terms applicable to an Advance, commitment, or Other Credit Product entered into pursuant to a telephone application or other unsigned communication unless, within two (2) business days of receipt of the Bank's advice, the Member delivers to the Bank a written notice specifying the disputed term(s) or condition(s). The Bank shall have the absolute right to rely upon the procedures established hereby or pursuant to the terms hereof and shall have no liability to the Member for any actions taken or omitted to be taken in connection with such procedures. The member agrees that it will hold the Bank and each of its employees, officers, directors, agents, and representatives harmless from any loss, liability or damage which the Member may suffer, including without limitation, lost profits and attorneys' fees and disbursements, arising out of or in connection with such procedures, absent fraud, willful misconduct, or recklessness on the part of the Bank.
Application for Advances. Borrower shall apply for Advances from the Loan Fund according to the following disbursement schedule: 2 draws per month. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. Borrower shall apply only for disbursement with respect to work actually done by the General Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, all representations and warranties contained in the Agreement are true and correct, and that Borrower is in compliance with all of the provisions of this Agreement.
Application for Advances. Borrower shall apply for Advances from the Loan Fund according to the following disbursement schedule: PERCENTAGE OF COMPLETION BASED ON LENDER’S INSPECTION FORM. LENDER MAY ADVANCE FUNDS FOR SUBCONTRACTORS, MATERIAL SUPPLIERS, AND OTHER INVOICES FOR WORK PERFORMED BY THIRD PARTY VENDORS. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. Borrower shall apply only for disbursement with respect to work actually done by the General Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, all representations and warranties contained in the Agreement are true and correct, and that Borrower is in compliance with all of the provisions of this Agreement.
Application for Advances. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower and the Architect, and supported by such evidence as Lender shall reasonably require. Borrower shall apply only for disbursement with respect to work actually done by the General Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, all representations and warranties contained in the Agreement are true and correct, and that Borrower is in compliance with all of the provisions of this Agreement. Lender will fund each such application for payment within five (5) business days.
Application for Advances. Borrower shall apply for Advances from the Loan Fund according to the following disbursement schedule: PERCENTAGE OF COMPLETION BASED ON LENDER’S INSPECTION FORM. LENDER MAY ADVANCE FUNDS FOR SUBCONTRACTORS, MATERIAL SUPPLIERS, AND OTHER INVOICES FOR WORK PERFORMED BY THIRD PARTY VENDORS.
Application for Advances. Applications for Advances shall be made as provided in the Note. Each application for an Advance shall be deemed a certification by the Borrower that, as of the date of such application, all representations and warranties contained in Section 3 are true and correct, and the Borrower is in compliance with all of the provisions of Sections 4 and 5 of this Agreement. All statements contained in any such application shall be deemed a representation and warranty made by the Borrower in connection with the Commitment.
Application for Advances. Subject to the provisions of the Note, which shall control in the case of any inconsistency with the provisions of this Section, Borrowers apply for each Advance of the Loan in writing, accompanied by a certificate in form and substance acceptable to the Bank confirming (including showing the requisite calculations) that the aggregate principal amount of the Loan will not exceed the Commitment Limit (hereinafter defined) after giving effect to the Advance being requested, and certifying that the representations and warranties of Borrowers contained in this Agreement remain in full force and effect and that no Event of Default, as hereinafter defined (or circumstance that with any applicable required notice and/or period of cure would become an Event of Default), is existing or will exist after giving effect to the Advance being requested. Each Advance shall be in the aggregate amount of not less than Five Hundred Thousand and No/100 Dollars ($500,000.00), or integral multiples thereof, and shall be credited into a demand deposit account maintained by the Borrowers with the Bank. The Bank shall endeavor to effect credit of the proceeds of any Advance requested prior to 11:00 a.m. on the same business day on which application for such Advance is received by the Bank. Proceeds of any Advance for which a request is received by the Bank after 11:00 a.m. may not be credited, at the option of the Bank, until the next business day. The date and amount of each Advance made by the Bank, and the date and amount of each payment or prepayment of principal of the Loan shall be recorded by the Bank, but any failure of the Bank so to record such dates or amounts shall not relieve the Borrowers of their obligations hereunder or under the Note evidencing the Loan. Each Borrower agrees that the Bank's books and records as to the amounts due under the Loan shall be deemed to be presumptively correct except for manifest error.
Application for Advances. Each application shall be stated on a standard AIA payment request form or other form approved by Lender, executed by Borrower, and supported by such evidence as Lender shall reasonably require. With regard to the WF TI/LC Funds and the XXX TI/LC Funds, such requests and Advances shall be in increments of not less than $150,000.00. With regard to the Vacant Space TI/LC Funds, such requests and Advances shall (a) be in increments of not less than $250,000.00 and (b) not exceed the aggregate amount of $39.09 per square foot. Borrower shall apply only for disbursement with respect to work actually done by Contractor and for materials and equipment actually incorporated into the Project. Each application for an Advance shall be deemed a certification of Borrower that as of the date of such application, Borrower is in compliance with all of the provisions of this Agreement and the Loan Documents. If Lender determines, in its sole and absolute discretion that all terms and conditions for the Advance are met, Lender shall make the Advance, less ten percent (10%) of such amount as retainage, within seven (7) business days of approval of the request. Lender shall not be obligated to make more than one (1) Advance every thirty (30) days per Tenant Improvement project.
Application for Advances. Borrower shall apply for Advances from the Loan Fund according to the following disbursement schedule: Cost Breakdown Schedule Supported by Invoices.
