Disbursal of the facility Sample Clauses

Disbursal of the facility a. The loan will be disbursed to the borrower in one or more instalment(s) as may be required by the borrower. b. The disbursement may be direct to the supplier or by credit to Savings Bank or Current Account of the Borrower, depending upon the purpose for which the loan is sanctioned. c. The borrower shall give at least three clear days prior notice of drawal of any instalment of the loan which advise may be waived by the Bank at its option. d. In the case of joint borrowing by more than one person, the person specified under Schedule I (f) of this agreement shall draw the amount in stages as stipulated.
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Disbursal of the facility a. The loan will be disbursed to the borrower in one or more instalment(s) as may be required by the borrower. b. The disbursement may be direct to the supplier or by credit to Savings Bank or Current Account of the Borrower, depending upon the purpose for which the loan is sanctioned.
Sample 1Sample 2
Disbursal of the facility a. The Borrower(s) agrees that Bank is under no obligation to disburse the credit facilities on the same day of execution of loan/security documents/agreements by the Borrower(s) and the Borrower(s) agrees that Bank may disburse the credit facilities on a day subsequent to the date of execution of documents after satisfactory completion of all internal procedures of the Bank and compliance of all the requirements by the Borrower(s). b. The Bank shall advance the loan to the Borrower(s) in such instalments and at such times as it deems fit and reasonable according to the requirement for payment of tuition fees, hostel fees, purchase of books, equipments etc. and the receipt of any one of the Borrower(s) shall serve as sufficient proof of the payment of the amount and shall be binding on other Borrower(s). The Borrower(s) agrees to provide margin as required by the Bank. The Borrower(s) hereby authorizes the Bank to make payment of the loan amount along with margin, if any, contributed by the Borrower(s) directly to the educational institution/hostel/book stall/suppliers/travel agent etc. The Borrower(s) undertakes to produce bills/Receipts etc. for such payments. The Borrower(s) undertakes that the loan proceeds will not be utilized for payment of capitation fee or donation. c. The Bank shall not be bound to advance the maximum amount sanctioned and may decline to advance the amount or discontinue further advances at any time at its absolute discretion on the ground that the Borrower(s) have found other means of assistance or that the student has discontinued his studies or has failed in any examination or has failed to produce a satisfactory report of his studies and progress or the course/Institution is de-recognised by the authority concerned or the student fails to secure employment within the holiday period after completion of the course or for any other reasons which the Bank at its absolute discretion may consider justified and sufficient. In the event of such discontinuance, the payments already made shall be deemed to be a completed loan under this agreement and the Borrower(s) agrees to report the matter immediately to the Bank and the Borrower(s) also agrees to repay the entire outstanding dues in the loan account forthwith. d. The loan shall be granted and disbursements made subject to the Bank’s Rules and foreign exchange regulations and in case of studies abroad, the Borrower(s) shall comply with all the requirements prescribed by the Reserve ...
Sample 1
Disbursal of the facility a. The loan will be disbursed to the borrower in one or more instalment(s) as may be required by the borrower. b. The disbursement may be direct to the supplier or by credit to Savings Bank or Current Account of the Borrower, depending upon the purpose for which the loan is sanctioned. c. The borrower shall give at least three clear days prior notice of drawal of any instalment of the loan which advise may be waived by the Bank at its option. d. In the case of joint borrowing by more than one person, the person specified under Schedule I (f) of this agreement shall draw the amount in stages as stipulated. ARTICLE III REPAYMENT OF LOAN, INTEREST, OTHER CHARGES & EVENT OF DEFAULT
Sample 1
Disbursal of the facility a. The Borrower agrees that Bank is under no obligation to disburse the credit facilities on the same day of execution of loan/security documents/agreements by the Borrower and the Borrower agrees that Bank may disburse the credit facilities on a day subsequent to the date of execution of documents after satisfactory completion of all internal procedures of the Bank and compliance of all the requirements by the Borrower. b. The loan will be disbursed to the Borrower in lump sum or in instalment(s) as stipulated by the Bank. c. If the loan is being disbursed in stages, at least three clear days prior notice of drawal of any instalment of the loan should be given to the Bank, which advise may be waived by the Bank at its d. The Borrower authorizes the person specified under Schedule I (g) of this agreement to make request to the Bank for stage disbursement, receive the amount, give receipt and acknowledge debt etc. as may be required by the Bank. ARTICLE II REPAYMENT OF LOAN, INTEREST, OTHER CHARGES & EVENT OF DEFAULT
Sample 1
Disbursal of the facility a. The Borrower
Sample 1

Related to Disbursal of the facility

  • Withdrawal of the Proceeds of the Financing General 1. The Recipient may withdraw the proceeds of the Financing in accordance with the provisions of Article II of the General Conditions, this Section, and such additional instructions as the Association shall specify by notice to the Recipient (including the “World Bank Disbursement Guidelines for Projects” dated May 2006, as revised from time to time by the Association and as made applicable to this Agreement pursuant to such instructions), to finance Eligible Expenditures as set forth in the table in paragraph 2 below. 2. The following table specifies the categories of Eligible Expenditures that may be financed out of the proceeds of the Financing (“Category”), the allocations of the amounts of the Financing to each Category, and the percentage of expenditures to be financed for Eligible Expenditures in each Category: Category Amount of the Credit Allocated (expressed in SDR) Amount of the Grant Allocated (expressed in SDR) Percentage of Expenditures to be Financed (inclusive of Taxes) Capitation Payments under Part A of the Project -0- 6,000,000 100%

  • Withdrawal of Fund's Assets If the Delegate determines that an arrangement with a specific Eligible Foreign Custodian selected by the Delegate under Section 3 of this Delegation Schedule no longer meets the requirements of said Section, Delegate shall withdraw the Fund's Assets from the non-complying arrangement as soon as reasonably practicable; provided, however, that if in the reasonable judgment of the Delegate, such withdrawal would require liquidation of any of the Fund's Assets or would materially impair the liquidity, value or other investment characteristics of the Fund's Assets, it shall be the duty of the Delegate to provide information regarding the particular circumstances and to act only in accordance with Instructions of the Fund or its Investment Advisor with respect to such liquidation or other withdrawal.

  • Procurement Project not financed with EU Funds The procurement is covered by the Government Procurement Agreement (GPA): yes

  • Resignation of the Facility Agent (a) The Facility Agent may resign and appoint any of its Affiliates as successor Facility Agent by giving 30 days’ notice to the other Finance Parties and the Owner. (b) Alternatively the Facility Agent may resign by giving written notice to the Finance Parties and the Owner, in which case the Majority Lenders may appoint a successor Facility Agent. (c) If no successor Facility Agent has been appointed under paragraph (b) above within 30 days after notice of resignation was given, the Facility Agent may appoint a successor Facility Agent. (d) The resignation of the Facility Agent and the appointment of any successor Facility Agent will both become effective only when the successor Facility Agent (i) notifies all the Parties that it accepts its appointment and (ii) confirms that it is satisfied that the rights under the Security Documents and the DPP have been assigned or transferred to it. On giving the notification and confirmation, the successor Facility Agent will succeed to the position of the Facility Agent and the term Facility Agent will mean the successor Facility Agent. (e) The retiring Facility Agent must, at its own cost, make available to the successor Facility Agent such documents and records and provide such assistance as the successor Facility Agent may reasonably request for the purposes of performing its functions as the Facility Agent under the Finance Documents. (f) Upon its resignation becoming effective, this Clause will continue to benefit the retiring Facility Agent in respect of any action taken or not taken by it in connection with the Finance Documents while it was the Facility Agent, and, subject to paragraph (e) above, it will have no further obligations in its capacity as Facility Agent under any Finance Document. (g) The Majority Lenders may, by notice to the Facility Agent, require it to resign under paragraph (b) above. (h) Any successor Facility Agent will be located or have a branch in London, Luxembourg or New York and the Facility Agent or, as the case may be, the Mandated Lead Arranger will consult with the Owner in relation to the identity of such successor Facility Agent.

  • Availability Control Personal Data will be protected against accidental or unauthorized destruction or loss.

  • Disbursement of the Loan Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA. · Disbursements may be made in increments as needed. · Other conditions may be imposed by SBA pursuant to general requirements of SBA. · Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement. · NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD. · This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and assigns and will inure to the benefit of SBA and its successors and assigns.

  • Modification of the Small Generating Facility The Interconnection Customer must receive written authorization from the NYISO and Connecting Transmission Owner before making any change to the Small Generating Facility that may have a material impact on the safety or reliability of the New York State Transmission System or the Distribution System. Such authorization shall not be unreasonably withheld. Modifications shall be done in accordance with Good Utility Practice. If the Interconnection Customer makes such modification without the prior written authorization of the NYISO and Connecting Transmission Owner, the Connecting Transmission Owner shall have the right to temporarily disconnect the Small Generating Facility. If disconnected, the Small Generating Facility will not be reconnected until the unauthorized modifications are authorized or removed.

  • 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.

  • Disbursement of Funds (a) No later than 2:00 p.m. (New York City time) on the date specified in each Notice of Borrowing (including Mandatory Borrowings), each Lender made available its pro rata portion, if any, of each Borrowing requested to be made on such date in the manner provided below; provided that on the Original Closing Date, such funds were made available at such earlier time as may be agreed among the Lenders, the Borrower and the Administrative Agent for the purpose of consummating the Transactions; provided further that all Swingline Loans shall be made available to the Borrower in the full amount thereof by the Swingline Lender no later than 4:00 p.m. (New York City time) on the date requested. (b) Each Lender shall make available all amounts it is to fund to the Borrower under any Borrowing for its applicable Commitments, and in immediately available funds to the Administrative Agent at the Administrative Agent’s Office and the Administrative Agent will (except in the case of Mandatory Borrowings and Borrowings to repay Unpaid Drawings) make available to the Borrower, by depositing to an account designated by the Borrower to the Administrative Agent the aggregate of the amounts so made available in the applicable currency. Unless the Administrative Agent shall have been notified by any Lender prior to the date of any such Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so) make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made available such amount to the Borrower, the Administrative Agent shall be entitled to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor the Administrative Agent shall promptly notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent in the applicable currency. The Administrative Agent shall also be entitled to recover from such Lender or the Borrower interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding amount is recovered by the Administrative Agent, at a rate per annum equal to (i) if paid by such Lender, the Overnight Rate or (ii) if paid by the Borrower, the then-applicable rate of interest or fees, calculated in accordance with Section 2.8, for the respective Loans. (c) Nothing in this Section 2.4 shall be deemed to relieve any Lender from its obligation to, fulfill its commitments hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any default by such Lender hereunder (it being understood, however, that no Lender shall be responsible for the failure of any other Lender to fulfill its commitments hereunder).

  • Construction Clearing All timber is designated for cutting that is within the clearing limits of roads constructed hereunder or is in other authorized clearings. All dead or unstable live trees are designated for cutting that are sufficiently tall to reach Purchaser’s landings or the roadbed of Specified and Temporary Roads when Marked in advance of felling of timber in the immediate vicinity. Pieces meeting Utilization Standards from such dead or unstable live trees shall be removed, unless there is agreement that to do so could damage the road. Such designation may be revised as part of agreed changes in road location under B5.2.

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