Disbursement of Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:
(a) to the account which the Borrower specifies in the Drawdown Notice; and
(b) in the like funds as the Agent received the payments from the Lenders.
Disbursement of Loan. Subject to the provisions of this Agreement, the Lender shall on the Drawdown Date make the Loan to the Borrower; and payment to the Borrower shall be made to the account which the Borrower specifies in the Drawdown Notice.
Disbursement of Loan. (a) The Loan shall be disbursed by the Lender in such amounts and at such times prior to the termination of this Agreement as the Borrower may request on the terms of the remaining provisions of this clause 2.3.
(b) Each disbursement of the Loan, shall be made subject to the Borrower satisfying or procuring the satisfaction of, to the fullest extent applicable, all conditions set out in clause 2.5 (Conditions) (together the “Conditions”) on the relevant Loan Disbursement Date and, in relation to Accordion only, the Lender having agreed to provide the Accordion to the Borrower and the Parties have executed and perfected the UCIL Securitization Agreement to the satisfaction of the Lender in accordance with the terms of this Agreement.
(c) For the avoidance of doubt, the Lender shall not be obliged to transfer (or procure the transfer by the Paying Agent of) any amount of the Loan (other than the Initial Loan) to the Borrower or otherwise, unless all the Conditions have been satisfied and continue to be satisfied on the relevant Loan Disbursement Date.
(d) Unless the Parties agree otherwise in writing in accordance with 2.3(a) above, the Lender shall (or shall procure that its Paying Agent shall) make the disbursements of the Initial Loan, provided that:
(A) the Borrower has confirmed in writing that it is prepared to issue Conversion Shares in the amount of 20% of the capital of the Borrower (post-money) as soon as reasonably practicable and not later than within three (3) Business Day of the relevant disbursement of the Initial Loan; and
(B) the Borrower has provided to the Lender a Warrant for 4.5% Shares in the Borrower.
(e) If the Borrower wishes to draw any amount of the Loan, the Borrower shall give the Lender a request (each such request being an “Loan Tranche Request”) in writing specifying:
(i) the amount of the Loan to be disbursed;
(ii) the intended disbursement date, which shall be not less than five (5) Business Days following the date of the Lender’s receipt of the relevant Loan Tranche Request, unless the Parties agree otherwise;
(iii) the recipient (the Borrower or any third-party recipient) and the relevant bank account details of the payment recipient;
(iv) the purpose of the relevant payment; and
(v) any additional details reasonably sufficient for the Lender to transfer the relevant amount of any of the Loan Tranches pursuant to such Loan Tranche Request, in any case, provided that:
(A) the total amount of the Initial Loan disbursements s...
Disbursement of Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5 and that payment to the Borrower shall be made:
(a) to the account which the Borrower specifies in the Drawdown Notice; and
(b) in like funds as the Agent received the payments from the Lenders. The payment by the Agent under this Clause 4.6 shall constitute the making of the Loan and the Borrower shall at that time become indebted, as principal and direct obligor, to each Lender in an amount equal to that Lender’s participation in the Loan.
Disbursement of Loan. The Loan shall represent credit provided by the Seller to the Borrower for use against the purchase by the Borrower of the Acquired Shares from the Seller, in accordance with the terms of the Purchase Agreement. The Loan shall be deemed to be made by the Seller on the Closing Date, upon the terms and subject to the conditions of this Agreement. The Loan shall not be disbursed in cash. The Borrower shall, on the Closing Date, acknowledge to the Seller in writing application of the proceeds of the Loan in accordance with the terms of the Purchase Agreement.
Disbursement of Loan. After the Closing Date, but in any event no later than the Deadline Date, Borrower shall be entitled to receive disbursements of the Loan Funds in accordance with the provisions of this Section 2.7 within ten (10) Business Days after compliance with all conditions precedent hereto, provided that (i) no material adverse change has occurred with respect to Borrower, (ii) no Event of Default and no material default exists hereunder or under any other Loan Documents, and (iii) such disbursement shall be paid in proportion to the required Cost Share Amount in accordance with the following:
Disbursement of Loan. Borrower hereby irrevocably authorizes Lender to disburse the proceeds of the Term Loan in immediately available funds as set forth in the Loan Closing Statement executed by Borrower on the Closing Date.
Disbursement of Loan. Subject to the terms and conditions in this Agreement, the Loan shall be disbursed to the Borrower, in two disbursements, as Borrower shall direct, as follows:
(a) the first disbursement of $4,000,000 shall occur within ten Business Days after the date hereof; and
(b) the second disbursement of $1,000,000 shall occur on or before January 31, 2018 (the “Second Disbursement”).
Disbursement of Loan. 4.1 We will disburse the Loan amount, less the agreement fee specified in the Service Agreement, within the term set out in the Price List after the entry into force of the Service Agreement.
4.2 The Loan amount will be paid to a current account opened in Your name in an Estonian credit institution or in the Estonian branch of a foreign credit institution.
4.3 We have the right to refuse to disburse the Loan if even one of the following circumstances occurs:
4.3.1 You have not submitted to Us the required documents or information or You have submitted false documents or information;
4.3.2 Your identity or the correctness of the submitted documents needs further verification;
4.3.3 the essential circumstances serving as the basis for the disbursement of the Loan have changed (and thereby Your creditworthiness has deteriorated).
Disbursement of Loan. If the conditions set out in Clause 4 (Conditions of Utilisation) and 5.1 (Delivery of a Utilisation Request) to 5.3 (Currency and amount) above have been met, the Lender shall make the Loan available to the Borrower by transfer to the Borrower’s bank account specified in the Utilisation Request on the Utilisation Date.
