Deposit of Loan Proceeds Sample Clauses

Deposit of Loan Proceeds. Once the CEBA Loan application is approved, the CEBA Loan will be deposited in full into the account identified by the Borrower during the CEBA Loan application as its primary chequing/business account at the Credit Union or such other account as may be determined by the Credit Union. The Credit Union is not able to advance the CEBA Loan until all requirements of the CEBA Program and any other approval required by the Government of Canada have been met.
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Deposit of Loan Proceeds. 1. The Borrower shall open, prior to furnishing to the Bank the first request for withdrawal from the Loan Account, and thereafter maintain in its Central Bank a deposit account in dollars on terms and conditions satisfactory to the Bank. 2. All withdrawals from the Loan Account shall be deposited by the Bank into the Deposit Account. Upon each deposit of an amount of the Loan into the Deposit Account, the Borrower shall transfer to Orissa an amount in Rupees equivalent to the amount deposited in the Deposit Account as of the day of such deposit. Such transfer shall be made in accordance with the Borrower’s standard arrangements for onlending of external development funds to the States of India.
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Deposit of Loan Proceeds. Proceeds of the Loan shall be retained by the Bank until disbursed to the Company pursuant to this Loan Agreement. Earnings on undisbursed amounts of the Loan shall be for the account of the Bank.
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Deposit of Loan Proceeds. The proceeds of the Loan shall be applied as follows: (i) $250,000 shall be applied to payment of costs of issuance, including, without limitation, an allocable portion of expenses incurred with respect to the I-25 North Express Lanes Project (Segment 3) as outlined in a closing memo; (ii) $2,349,474.31 shall be deposited in the Capitalized Interest Subaccount of the I-25 North Express Lanes Loan Repayment Account (Segment 3); and (iii) the remainder of the proceeds of the Loan shall be deposited into the I-25 North Express Lanes Project Account (Segment 3).
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Deposit of Loan Proceeds. All DIP Loan Proceeds (less any agreed upon amounts to be retained for payments allocable under Section 2.3(a)(iv) and 2.3(a)(v)) shall be deposited into a Controlled Account in the name of Representative Borrower located at Wxxxx Fargo Bank, National Association, Account No. 4143384733 (the “Disbursement Account”) on the applicable Credit Date. Amounts in the Disbursement Account shall only be withdrawn to fund amounts in accordance with the DIP Budget and in accordance with the use of proceeds restrictions set forth in Section 2.3.
Sample 1
Deposit of Loan Proceeds. 1. The Borrower shall open, prior to furnishing to the Bank the first request for withdrawal from the Loan Account, and thereafter maintain on terms and conditions satisfactory to the Bank a deposit account in Japanese Yen (“Foreign Currency Deposit Account”). 2. The Borrower shall cause Punjab to open, prior to the Borrower furnishing to the Bank the first request for withdrawal from the Loan Account, and thereafter maintain on terms and conditions satisfactory to the Bank, a deposit account in Rupees (“Local Currency Deposit Account”). 3. All withdrawals from the Loan Account shall be deposited by the Bank into the Foreign Currency Deposit Account. Upon each deposit of an amount of the Loan into the Foreign Currency Deposit Account, the Borrower shall deposit an equivalent amount into the Local Currency Deposit Account.
Sample 1
Deposit of Loan Proceeds. The proceeds of the Loan shall be applied as follows: (i) $220,000 shall be applied to payment of costs of issuance, including, without limitation, an allocable portion of expenses incurred with respect to the I-70 PPSL Project as outlined in a closing memo, including, without limitation, all amounts, if any, due by the Borrower under the Master Installment Purchase Contract; (ii) $2,084,750 shall be deposited in the Capitalized Interest Subaccount of the I-70 PPSL Loan Repayment Account; and (iii) the remainder of the proceeds of the Loan shall be deposited into the I-70 PPSL Project Account (other than the fee payable to the Lender pursuant to the terms of Section 2.02(m) hereof).
Sample 1
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Deposit of Loan Proceeds. All Loan Proceeds (less any agreed upon amounts to be retained for payments allocable under Section ‎2.3(a)(iii)) shall be deposited into a Controlled Account in the name of Representative Borrower located at Xxxxx Fargo Bank, National Association, Account No. 4143384733 (the “Disbursement Account”) on the applicable Credit Date. Amounts in the Disbursement Account shall only be withdrawn to fund amounts in accordance with the use of proceeds restrictions set forth in Section ‎2.3.
Sample 1
Deposit of Loan Proceeds. The proceeds of the Loan shall be applied as follows: (i) [$ ] shall be deposited in the Capitalized Interest Subaccount of the Xxxxxxx Yard Loan Repayment Account; and (ii) the remainder of the proceeds of the Loan shall be deposited into the Xxxxxxx Yard Project Account.
Sample 1

Related to Deposit of Loan Proceeds

  • Disbursement of Loan Proceeds (a) The Trustee, as the agent of the Trust, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the Trust, in a form meeting the requirements of Section 5.02(3) of the Bond Resolution. (b) The Trust and Trustee shall not be required to disburse any Loan proceeds to the Borrower under this Loan Agreement, unless: (i) the proceeds of the Trust Bonds shall be available for disbursement, as determined solely by the Trust; (ii) in accordance with the Bond Act, and the Regulations, the Borrower shall have timely applied for, shall have been awarded and, prior to or simultaneously with the Loan Closing, shall have closed a Fund Loan for a portion of the Allowable Costs (as defined in such Regulations) of the Project in an amount not in excess of the amount of Allowable Costs of the Project financed by the Loan from the Trust; (iii) the Borrower shall have on hand moneys to pay for the greater of (A) that portion of the total Costs of the Project that is not eligible to be funded from the Fund Loan or the Loan, or (B) that portion of the total Costs of the Project that exceeds the actual amounts of the loan commitments made by the State and the Trust, respectively, for the Fund Loan and the Loan; and (iv) no Event of Default nor any event that, with the passage of time or service of notice or both, would constitute an Event of Default shall have occurred and be continuing hereunder.

  • Deposit of Proceeds Subject to Section 4(b), any interest, cash dividends or other cash distributions received in respect of any Investments and the net proceeds of any sale or payment of any Investments shall be promptly credited to, and held for the credit of the Reserve Account, and any distribution of property other than cash in respect of any Investment shall be credited to, and held for the credit of, the Reserve Account.

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Use of Loan Proceeds The Borrower shall use the credit extended under this Agreement solely for the purposes set forth in, or otherwise permitted by, Section 6.4 hereof.

  • Loan Proceeds Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4.

  • Deposit of Collections The Borrower shall promptly (but in no event later than two Business Days after receipt) deposit or cause to be deposited into the Collection Account any and all Available Collections received by the Borrower, the Servicer or any of their Affiliates.

  • Withdrawal of Loan Proceeds Except as ADB may otherwise agree, the following provisions of this Schedule shall apply to the withdrawal of Loan proceeds from the Loan Account.

  • PAYMENT OF LOAN FEE Borrower shall pay to Lender a fee in the amount of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) (the "Loan Fee") plus all out-of-pocket expenses.

  • Disbursement of Advance Proceeds All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers' Account on Agent's books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowers or deemed to have been requested by Borrowers under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

  • Disbursement of Proceeds In the event Tenant is required to restore any Property pursuant to Section 10.2 and this Agreement is not terminated as to such Property pursuant to this Article 10, Tenant shall commence (or cause to be commenced) promptly and continue diligently to perform (or cause to be performed) the repair and restoration of such Property (hereinafter called the “Work”), so as to restore (or cause to be restored) the applicable Property in material compliance with all Legal Requirements and so that such Property shall be, to the extent practicable, substantially equivalent in value and general utility to its general utility and value immediately prior to such damage or destruction. Subject to the terms hereof, Landlord shall advance the insurance proceeds and any additional amounts payable by Landlord pursuant to Section 10.2.3 or otherwise deposited with Landlord to Tenant regularly during the repair and restoration period so as to permit payment for the cost of any such restoration and repair. Any such advances shall be made not more than monthly within ten (10) Business Days after Tenant submits to Landlord a written requisition and substantiation therefor on AIA Forms G702 and G703 (or on such other form or forms as may be reasonably acceptable to Landlord). Landlord may, at its option, condition advancement of such insurance proceeds and other amounts on (a) the absence of any Event of Default, (b) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld, delayed or conditioned), (c) general contractors’ estimates, (d) architect’s certificates, (e) conditional lien waivers of general contractors, if available, (f) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required, (g), if Tenant has elected to advance deficiency funds pursuant to Section 10.2.3, Tenant depositing the amount thereof with Landlord and (h) such other certificates as Landlord may, from time to time, reasonably require. Landlord’s obligation to disburse insurance proceeds under this Article 10 shall be subject to the release of such proceeds by any Facility Mortgagee to Landlord. Tenant’s obligation to restore the applicable Property pursuant to this Article 10 shall be subject to the release of available insurance proceeds by the applicable Facility Mortgagee to Landlord or directly to Tenant and, in the event such proceeds are insufficient, Landlord electing to make such deficiency available therefor (and disbursement of such deficiency).

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