Application of Loan Proceeds. The Borrower will use the proceeds of the Loan solely for the purpose of paying for approved construction and development costs.
Application of Loan Proceeds. (a) The Borrower agrees to apply the Loan Proceeds solely and exclusively to the payment, or the reimbursement of the Borrower for the payment, of Project Costs and further agrees, upon the request of the Department, to exhibit to the Department, vouchers, statements, bills of sale or other evidence of the actual payment of such Project Costs. The Department shall disburse the Loan Proceeds to or for the account of the Borrower upon execution of this Agreement and upon receipt by the Department of the following:
Application of Loan Proceeds. The Borrower will use the proceeds of the Loan solely for the purpose of paying for capital improvements specified in Attachment A.
Application of Loan Proceeds. The Enterprise shall apply the proceeds of each Advance to pay the costs of the Project.
Application of Loan Proceeds. The School District shall apply the proceeds of the Loan solely as provided in Section 3.4 of this Agreement.
Application of Loan Proceeds. To use the proceeds of the Loan solely for the purpose of paying for the cost of construction of the Improvements and such incidental costs relative to such construction as may be approved from time to time in writing by Lender, and in no event to use any of the Loan proceeds for personal, family, or household purposes.
Application of Loan Proceeds. Any failure to apply the loan proceeds pursuant to the provisions as provided herein; or
Application of Loan Proceeds. The Municipality shall apply the proceeds of the Loan solely to Project Costs.
Application of Loan Proceeds. Borrower shall use the proceeds of the Loan solely and exclusively for the purposes of constructing the Facility, the repayment of the Facility Lessee Reverse Loan in accordance herewith and in accordance with the Project Budget, which shall be subject to no change except as expressly permitted in this Agreement. Borrower will receive the Advances to be made hereunder and will hold the right to receive the same as a trust fund for the purpose of paying the costs of the Facility, and it will apply the same first to such payment before using any part thereof for any other purpose.
Application of Loan Proceeds. The Bank may apply the proceeds from the Loan under the Notes to the satisfaction of any condition, warranty or covenant of the Borrowers under any of the Loan Documents, and any proceeds so applied will be considered as a part of the proceeds from the Loan advanced under the Notes and will be secured by the Loan Documents.
