Disbursement by Director Sample Clauses

Disbursement by Director. Loan Funds shall be held by the Director and are subject to disbursement requests and invoices for additional capital, pursuant to Section 2.7(a) of this Agreement, as Borrower’s investments are made. Loan Funds will be available for disbursement until the third anniversary of the Effective Date (the “Deadline Date”). If the Loan Funds are not fully disbursed or the Deadline Date is not extended, the Loan Funds will no longer be available to Borrower unless the time period to seek a disbursement is extended, in the Director’s sole discretion.
Sample 1
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Disbursement by Director. Loan Funds shall be held by the Director and are subject to disbursement requests and invoices for additional capital, pursuant to Section 2.7(a) of this Agreement, as Borrower’s investments are made. Loan Funds will be available for disbursement until the fourth anniversary of the Effective Date (the “Deadline Date”). If the Loan Funds are not fully disbursed, the Loan Funds will no longer be available to Borrower unless the Borrower requests an extension of the Deadline Date and the Director, in the Director’s sole discretion, grants such extension.
Sample 1

Related to Disbursement by Director

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