Disbursement of Term Loan. The Term Loan shall be in the original principal amount of $14,250,000.00, and, subject to the terms and conditions in this Agreement, shall be disbursed to Borrower in one disbursement, but in no event shall the Term Loan be made after July 31, 2008.
Disbursement of Term Loan. Subject to the satisfaction of the conditions of the making of the Term Loan, each Term Loan Bank shall, not later than 2:00 p.m. (Detroit time) on June 30, 2004, make available the amount of its Percentage of the Term Loan in immediately available funds to Agent, at the office of Agent located at 000 Xxxxxxxx Xxxxxx, Detroit, Michigan 48226. Agent shall make available to Company not later than 4:00 p.m. (Detroit time) on such date the aggregate of the amounts so received by it in like funds by credit to an account of Company maintained with Agent or to such other account or third party as Company may direct. Unless Agent shall have been notified by any Term Loan Bank that such Term Loan Bank does not intend to make available to Agent such Term Loan Bank's pro rata share of the Term Loan, Agent may assume that such Term Loan Bank has made such amount available to Agent on such date and may, in reliance upon such assumption, make available to Company a corresponding amount. If such amount is not in fact made available to Agent by such Term Loan Bank, Agent shall be entitled to recover such amount on demand from such Term Loan Bank. If such Term Loan Bank does not pay such amount forthwith upon Agent's demand therefor, the Agent shall promptly notify Company and Company shall pay such amount to Agent. Agent shall also be entitled to recover from such Term Loan Bank or Company, as the case may be, interest on such amount in respect of each day from the date such amount was made available by Agent to Company to the date such amount is recovered by Agent, at a rate per annum equal to the Applicable Interest Rate then applicable to the Term Loan. The obligation of any Term Loan Bank to fund its Percentage of the Term Loan shall not be affected by the failure of any other Term Loan Bank to fund its Percentage of the Term Loan and no Term Loan Bank shall have any liability to the Company, the Agent, or any other Term Loan Bank for another Term Loan Bank's failure to fund its Percentage of the Term Loan hereunder.
Disbursement of Term Loan. Subject to the satisfaction of the Conditions to Closing, the Lender shall make the proceeds of the Initial Term Loan available to the Borrowers on the Initial Closing Date, or on such other Business Day as agreed upon by the Borrowing Agent and the Lender, by wire transfer of immediately available funds to an account or such accounts designated in writing by the Borrowing Agent.
Disbursement of Term Loan. 19 2.04 Payment of Principal and Interest............................................................20 2.05
Disbursement of Term Loan. The Term Loan shall be in the original principal amount of $15,000,000, and, subject to the terms and conditions in the Loan Agreement, shall be disbursed to Borrower as follows: (A) Prior to the date hereof, Term Loans in the aggregate principal amount of $13,500,000 have been disbursed to Borrower; and (B) additional disbursements, if any, shall be made upon written request by Borrower, submitted to Lender at least two Business Days prior to the date the requested disbursement is to be made. There shall be no disbursements made on or after July 14, 2018 (the “Disbursement End Date”).
Disbursement of Term Loan. (a) Subject to the terms and conditions of this Agreement, the proceeds of the Term Loan shall be made available to the Borrower by depositing the proceeds thereof, in immediately available funds, in an account maintained and designated by the Borrower at the Bank or by wire transfer or otherwise as requested by the Borrower.
(b) The Term Loan made under this Section 2.3 shall be evidenced by the Term Note, and the Term Loan shall be due and payable and bear interest as provided in Sections 2.4 and 2.
Disbursement of Term Loan. The Bank shall make the Term Loan available to the Company at the Payment Office by crediting the account of the Company with such amount and in like funds.
Disbursement of Term Loan. The disbursement of the Term Loan hereunder shall consist of Loans made from all Lenders ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment. The full amount of the Term Loan shall be disbursed in a single disbursement. Notwithstanding the foregoing, if the amount of the Term Loan is increased pursuant to Section 2.1.2. the amount of such increase shall be disbursed solely by the existing or new Lender which has agreed to fund such increased amount.
Disbursement of Term Loan. Agent is authorized to distribute the Term Loan under this Agreement based upon the Funds Flow Agreement.
Disbursement of Term Loan. Not later than 2:00 p.m. (Eastern time) on the Closing Date, (i) each Lender will make available to the Administrative Agent, for the account of the Borrowers, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Lender's Term Loan Commitment Percentage of the Term Loan. The Borrowers hereby irrevocably authorize the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section 2.3 in immediately available funds by crediting or wiring such proceeds to the deposit account of the Company identified in the notice substantially in the form of Exhibit C hereto (a "Notice of Account Designation") delivered by the Borrowers to the Administrative Agent or as may be otherwise agreed upon by the Borrowers and the Administrative Agent. Subject to Section 4.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of the Term Loan to the extent that any Lender has not made available to the Administrative Agent its Term Loan Commitment Percentage of the Term Loan.
