Common use of Loan Commitment Disbursement to Borrower Clause in Contracts

Loan Commitment Disbursement to Borrower. (a) Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date. (b) Borrower may request and receive only one borrowing in respect of the Loan and any amount borrowed and repaid in respect of the Loan may not be reborrowed. (c) The Loan shall be evidenced by the Note and secured by the Mortgage and the other Loan Documents. (d) Borrower shall use the proceeds of the Loan to (i) pay certain costs in connection with the financing of the Property, (ii) make deposits into the Reserve Funds on the Closing Date in the amounts provided herein, (iii) pay costs and expenses incurred in connection with the closing of the Loan, as approved by Lender, (iv) fund any working capital requirements of the Property, and (v) distribute the balance, if any, to its partners or members, as applicable.

Loan Commitment Disbursement to Borrower. (a) Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date. (b) Borrower may request and receive only one borrowing in respect of the Loan and any amount borrowed and repaid in respect of the Loan may not be reborrowed. (c) The Loan shall be evidenced by the Note and secured by the Mortgage and the other Loan Documents. (d) Borrower shall use the proceeds of the Loan to (i) purchase the Property, (ii) pay certain costs in connection with the financing of the Property, (iiiii) make deposits into the Reserve Funds on the Closing Date in the amounts provided herein, (iiiiv) pay costs and expenses incurred in connection with the closing of the Loan, as approved by Lender, (ivv) fund any working capital requirements of the Property, and (vvi) distribute the balance, if any, to its partners or members, as applicable.

Loan Commitment Disbursement to Borrower. (a) Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date. (b) Borrower may request and receive only one borrowing in respect of the Loan and any amount borrowed and repaid in respect of the Loan may not be reborrowedre-borrowed. (c) The Loan shall be evidenced by the Note and secured by the Mortgage Pledge Agreement and the other Loan Documents. (d) Borrower shall use the proceeds of the Loan to (i) pay certain costs make an equity contribution to the Mortgage Borrower in connection with order to cause the financing Mortgage Borrower to use such amounts for any use permitted pursuant to Section 2.1(d) of the PropertyMortgage Loan Agreement, (ii) make deposits into the Reserve Funds on the Closing Date in the amounts provided herein, (iii) pay costs and expenses incurred in connection with the closing of the Loan, as approved by Lender, (iv) fund any working capital requirements of the Property, Lender and (viii) distribute the balance, if any, to its partners or members, as applicable.

Loan Commitment Disbursement to Borrower. (a) Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date. (b) Borrower may request and receive only one borrowing in respect of the Loan and any amount borrowed and repaid in respect of the Loan may not be reborrowed. (c) The Loan shall be evidenced by the Note and secured by the Mortgage Mortgages and the other Loan Documents. (d) Borrower shall use the proceeds of the Loan to (i) pay certain costs in connection with the acquisition and financing of the PropertyProperties, (ii) make deposits into the Reserve Funds on the Closing Date in the amounts provided herein, (iii) pay costs and expenses incurred in connection with the closing of the Loan, as approved by Lender, (iv) fund any working capital requirements of the PropertyProperties, and (v) distribute the balance, if any, to its partners partners, members or membersshareholders, as applicable.

Loan Commitment Disbursement to Borrower. (a) Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower Maker hereby agrees to accept the Loan on the Closing Date. (b) Borrower Maker may request and receive only one borrowing in respect of the Loan and any amount borrowed and repaid in respect of the Loan may not be reborrowed. (c) The Loan shall be evidenced by the Note and secured by the Mortgage Mortgages and the other Loan Documents. (d) Borrower Maker shall use the proceeds of the Loan to (i) pay certain costs in connection with the financing acquisition of the PropertyProperties, (ii) make deposits into the Reserve Funds on the Closing Date in the amounts provided herein, (iii) pay costs and expenses incurred in connection with the closing of the Loan, as approved by Lender, (iv) fund any working capital requirements of the PropertyProperties, and (v) distribute the balance, if any, to its partners partners, members or membersshareholders, as applicable.

Loan Commitment Disbursement to Borrower. (a) Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date. (b) Borrower may request and receive only one borrowing in respect of the Loan and any amount borrowed and repaid in respect of the Loan may not be reborrowed. (c) The Loan shall be evidenced by the Note and secured by the Mortgage and the other Loan Documents. (d) Borrower shall use the proceeds of the Loan to (i) pay certain costs in connection with the financing of the Property, (ii) make deposits into the Reserve Funds on the Closing Date in the amounts provided herein, (iii) pay costs and expenses incurred in connection with the closing of the Loan, as reasonably approved by Lender, (iv) fund any working capital requirements of the Property, and (v) distribute the balance, if any, to its partners partners, members or membersshareholders, as applicable.