Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower according to the Disbursement Schedule (as defined in Exhibit A). Disbursements shall be made to the Borrower’s account on the Xxxxxxx Platform.
Disbursements to Borrower. Borrower may request and receive (a) one (1) borrowing hereunder with respect to Borrower’s acquisition of the Property, and (b) additional draws for the payment construction costs as set forth herein. Any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.
Disbursements to Borrower. (a) Following the Transaction Closing Date, provided that all of the conditions set forth in Section 3.1 and Section 3.2 have been satisfied, Lender shall advance the Term Loan to Borrower, in one or more advances, in an amount of up to $5,500,000.
(b) The Revolving Loan shall be disbursed during the Revolving Commitment Period, provided that all of the conditions set forth in Section 3.1 and Section 3.2 have been satisfied, upon Borrower’s irrevocable notice to Lender, which may be given by telephone. Each such notice must be received by Lender not later than 3:00 p.m. three Business Days prior to the requested date of any Revolving Borrowing. Any telephonic notice must be confirmed promptly by delivery to Lender of a written borrowing request for such Revolving Borrowing signed by a Responsible Officer of Borrower. Each such request (whether telephonic or written) shall specify (i) the requested date of the Revolving Borrowing (which shall be a Business Day), and (ii) the principal amount of the Revolving Borrowing to be borrowed. Each Revolving Loan shall be in the principal amount of $50,000.00 or any whole multiple of $50,000.00 in excess thereof or the unused portion of the Revolving Loan Commitment Amount.
Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower on the Closing Date (as defined in Exhibit A). Disbursements shall be made to the Borrower’s ac- count on the Xxxxxxx Platform, unless otherwise agreed. Each disbursement shall be conclu- sively deemed to have been made at the request of and for the benefit of Borrower (a) when credited to the Borrower’s account on the Xxxxxxx Platform or (b) when advanced in accor- dance with the instructions of an Authorized Person. ��Interest Rate. Interest shall be payable on the Loan at the rate provided in the Note.
Disbursements to Borrower. Prior to the occurrence of a Cash Management Event, all cleared Current Rents shall be swept to Account B. After the occurrence of a Cash Management Event, and until a Cash Management Restoration Event shall have occurred, when cleared Current Rents have been swept from Account A to the Deposit Account in amounts sufficient to make the deposits described in clauses (A), (B), and (C) of Section 2.6.8 during any Collection Period, (i) the Deposit Bank shall direct the Clearing Bank to continue to sweep cleared funds which are not Current Rents to the Deposit Bank and to stop further payments of Current Rents to the Deposit Bank for the remainder of that Collection Period; (ii) for the duration of that Collection Period, the Clearing Bank shall daily sweep all cleared Current Rents to Account B, from which account such funds may be drawn by Borrower; and (iii) upon the occurrence of the next Payment Date, the Deposit Bank shall stop disbursement of cleared Current Rents from Account A to Account B and shall again sweep all Current Rents from Account A to the Deposit Account. Upon the occurrence of a Cash Management Restoration Event, all cleared Current Rents in Account A shall be swept to Account B as provided above.
Disbursements to Borrower. Borrower shall receive only one borrowing hereunder in respect of the Loan, which borrowing shall be made in two disbursements as set forth in Section 2.1.1 above, and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.
Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower according to the Disbursement Schedule (as defined in Exhibit A). Disbursements shall be made to the Borrower’s account on the Xxxxxxx Platform. Disbursements shall only be made against the total value of invoices compliant to the grant reimbursement specifications of USDA Rural Business Development.
Disbursements to Borrower. Section 2.7 INTEREST RATE BUY-UP . . . . . . . . . . . 22 2.7.1 THE BUY-UP. . . . . . . . . . . . . . . . . 22 2.7.2 RETURN-OF-AMOUNTS DEFINITIONS . . . .
Disbursements to Borrower. The Loan shall be paid out by Lender to Borrower on the Closing Date (as defined in Exhibit A). Disbursements shall be made to the Borrower’s account on the Xxxxxxx Platform, unless otherwise agreed. Each disbursement shall be conclusively deemed to have been made at the request of and for the benefit of Borrower (a) when credited to the Borrower’s account on the Xxxxxxx Platform or (b) when advanced in accordance with the instructions of an Authorized Person.
Disbursements to Borrower. Any disbursements to be made to Borrower or Operating Tenant pursuant to the terms of this Agreement shall be wired to the account set forth on Exhibit B attached hereto or such other account as Borrower or Operating Tenant may advise pursuant to written instructions delivered to Lender.
