Common use of Disbursement of Loan to third party Clause in Contracts

Disbursement of Loan to third party. Payment by the Facility Agent under Clause 5.6 (Retentions and payment of the Loan) to a person other than the Borrower shall constitute the advance 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 to third party. Payment by the Facility Agent under Clause 5.6 (Retentions Retention and payment of the Loanto Builder) to a person other than the Borrower shall constitute the advance 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 Lxxxxx's participation in the Loan.

Disbursement of Loan to third party. Payment A payment by the Facility Agent under Clause 5.6 (Retentions and payment of the LoanPayment to third parties) to a person other than the a Borrower shall constitute the advance making of the Loan and the Borrower Borrowers shall at that time become indebted, as principal and direct obligor, to each Lender in an amount equal to that LenderLxxxxx’s participation in that the Loan.

Disbursement of Loan to third party. Payment A payment by the Facility Agent under Clause 5.6 (Retentions and payment of the LoanPayment to third parties) to a person other than the a Borrower shall constitute the advance making of the Loan and the Borrower Borrowers shall at that time become indebted, as principal and direct obligor, to each Lender in an amount equal to that LenderXxxxxx’s participation in that the Loan.

Disbursement of Loan to third party. Payment The payment by the Facility Agent under Clause 5.6 4.6 to the Builder or the Borrowers (Retentions and payment of as the Loancase may be) to a person other than the Borrower shall constitute the advance making of the Loan and the Borrower Borrowers shall at that time thereupon become indebted, as principal and direct obligor, to each Lender in an amount equal to that LenderXxxxxx’s participation in the LoanContribution.