Application of Disbursements. Borrower shall receive the disbursements to be made hereunder in trust, strictly for the purpose of paying the costs identified in the request for such disbursement.
Application of Disbursements. All Loan proceeds disbursed to Borrower pursuant to this Loan Agreement Supplement will be used only for payment of those items specified in the Draw Request Certification for which the particular disbursement was made. Borrower will not use all or any portion of such disbursement to pay or reimburse itself, directly or indirectly, for any amounts paid by Borrower or any other Person but not included in the Budget.
Application of Disbursements. Borrower shall receive the Advances in trust, strictly for the purpose of paying the costs identified in the Draw Request for such Advance.
Application of Disbursements. All Loan proceeds disbursed to the Borrower will be used only for payment (or for reimbursement to Borrower for prior payment) of those items specified in the Draw Request Certification for which the particular disbursement was made. The Borrower will not use any such disbursement to pay or reimburse itself, directly or indirectly, for any amounts paid by the Borrower or any other Person but not included in the applicable Budget.
Application of Disbursements. Receive the disbursements to be made hereunder as a trust fund for the purpose of paying the costs of construction of the improvements and will apply the same first to such payments before using any part thereof for any other purpose.
Application of Disbursements. I will apply the Disbursements first to the payment of the cost of the Work before using any part for any other purpose.
Application of Disbursements. No amounts received by or disbursed to Pledgor shall in any manner violate the requirements of the Loan Documents or the Loan Agreement.
Application of Disbursements. (a) Agent shall make each requested disbursement of the Loan to an account maintained by Borrower with Agent within ten days after all of the conditions precedent to such disbursement set forth in Section 4.1 above have been satisfied and all documentation required under Section 4.3 above has been delivered to Agent.
Application of Disbursements. 15 4.9 Payment of Interest by Agent............................. 16 5.
Application of Disbursements. Receive the disbursements to be made hereunder as a trust fund for the purpose of paying the costs of construction of the improvements and it will apply the same first to such payment before using any part thereof for any other purpose.
