Loan Disbursement and Payment Sample Clauses

Loan Disbursement and Payment. 2.1 The borrower must meet the following conditions before withdrawing the loan, otherwise the lender has no obligation to release any funds to the borrower, except for the lender agreeing to release the funds in advance: (1) Except for credit loans, the borrower has provided corresponding guarantees as requested by the lender and has completed the relevant guarantee procedures; (2) No breach of contract has occurred under this contract or any other contract signed between the borrower and the lender; (3) The provided loan purpose proof materials are consistent with the agreed purpose; (4) Submit other documents required by the lender. 2.2 The written documents provided by the borrower to the lender when withdrawing funds must be original documents; If the original document cannot be provided, a copy stamped with the borrower's official seal can be provided with the lender's consent. 2.3 The borrower shall submit a withdrawal notice to the lender at least 5 working days in advance when applying for withdrawal. Once the withdrawal notice is submitted, it cannot be revoked without the written consent of the lender. The borrower shall affix the borrower's official seal or financial seal on the promissory note in accordance with the reserved account seal specified in the withdrawal notice. The borrower hereby confirms that if the reserved seal contains both the official seal and the financial special seal, and one or more seals are affixed to the promissory note, it is a valid promissory note. 第 10 页 共 21 页 2.4 If the lender approves the borrower's withdrawal after review, the lender shall transfer the loan to the designated borrower's account, which shall be deemed that the lender has disbursed the loan to the borrower in accordance with the provisions of this contract. 2.5 According to relevant regulatory regulations and lender management requirements, for loans exceeding a certain amount or meeting other conditions, the lender shall adopt the entrusted payment method, and the lender shall pay the loan to the payment object that meets the agreed purpose of this contract based on the borrower's withdrawal application and payment commission. For this purpose, the borrower shall sign a separate entrusted payment agreement with the lender as an attachment to this contract, and open or designate a dedicated account with the lender to handle entrusted payment matters.
Sample 1
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Loan Disbursement and Payment. Each of the Co-borrowers agree to accept the Bank’s management with respect to the loan disbursement and payment in accordance with the following terms: a) all loan proceeds subject to Self-controlled Disbursement shall be credited into Loan Disbursement Account; b) each of the Co-borrowers shall procure Loan Disbursement Account be opened solely for loan disbursement and payment and any sums of money credited into Loan Disbursement Account in the form of loan proceeds or not shall be paid in accordance with terms and conditions hereof; c) loan proceeds shall not be paid to any other account of the Co-borrowers with the Bank or any other financial institutions whether or not Consigned Disbursement or Self-controlled Disbursement is to be applied; d) Consigned Disbursement shall be adopted for any payment using loan proceeds exceeding 5% of total investment amount or five(5) million RMB equivalent whichever is smaller; e) the Co-borrowers shall provide the Bank with summary report of details with respect to loan proceeds utilization and upon the enquiry of the Bank further present any invoices commercial contracts and other documents in relation to payment referred to in the report for the bank to verify against.
Sample 1
Loan Disbursement and Payment. The Lender shall directly disburse each Loan’s proceeds to the specific payee through the Loan Account (a RMB account of the Borrower opened at the Lender’s branch) before 4 p.m. on the Utilization Date of such Loan in accordance with the instructions of the Payment Authorization Letter. The Lender has the right (but no obligation) to rely on and act upon any seemingly complete Payment Authorization Letter, and relevant documents or information, even if such Payment Authorization Letter, relevant documents, or information are not true, not properly signed, or not accurate in other respects. After the Agreement Date, the Lender is entitled to terminate the disbursement and payment of related Loan’s proceeds if the following occurs: (1) The credit standing of the Borrower deteriorates; or (2) the Borrower does not pay the Loan fund as per this Agreement.
Sample 1
Loan Disbursement and Payment. 1. Prerequisite for First Withdrawal The first withdrawal by Party A shall fully meet the following conditions: [/] 2. Prerequisite for each withdrawal For each withdrawal (including the first withdrawal) under this contract, Party A must also meet the following conditions: (1) Party A has not violated the provisions or agreements of this contract, guarantee documents, and other relevant documents. (2) The guarantee documents remain valid and there have been no adverse changes in the guarantee that Party B believes may be detrimental to the realization of its creditor’s rights. (3) The collateral or pledged property under the guarantee documents has not been sealed, and the maximum amount of guarantee has not been determined as a debt. (4) The financial condition of Party A has not undergone any adverse changes that may endanger, delay or prevent its performance of obligations and responsibilities under this contract and guarantee documents. (5) Party A has signed or provided Party B with the agreed or reasonably requested documents. (6) Party A has opened relevant accounts in accordance with the provisions of this contract or the requirements of Party B. (7) Under the “Borrow and Repay” mode, Party A shall also meet the access conditions for credit products of small and micro enterprises set by Party B and the relevant system requirements of the “Borrow and Repay” business function of small and micro enterprises. Party A has not misappropriated Party B’s loans and has no outstanding non-performing loans, outstanding advances or outstanding interest arrears in the credit information of the People’s Bank of China. Party A’s actual controller or its guarantor currently has no loans overdue in the credit information of the People’s Bank of China, and Party A is not a borrower of restructured loan business. (8) There are no laws, regulations or regulatory requirements that prohibit or restrict the disbursement of loans under this contract. (9) [/] (10) Other conditions requested by Party B. 3. Withdrawal plan (1) In the non “Borrow and Repay” mode, Party A shall make withdrawals in accordance with the plan described in paragraph [A] below. X. Xxxxxxxxxx plan The planned withdrawal date shall be a bank working day. If the planned withdrawal date is not a bank working day, it will be adjusted to the previous bank working day. B. [Party A shall make withdrawals as needed through electronic channels such as online banking of Party B] (2) Under the “Borrow and Repa...
Sample 1
Loan Disbursement and Payment. 2.1 Drawing down of the loan by the Borrower shall satisfy the drawdown conditions precedent set out below. Otherwise, unless where an advance loan disbursement is agreed to by the Lender, the Lender shall not be obligated to disburse any funds to the Borrower.
Sample 1
Loan Disbursement and Payment 
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Related to Loan Disbursement and Payment

  • Loan Disbursements (a) On the Effective Date, each Lender shall make available to Administrative Agent (or the funding bank or entity designated by Administrative Agent), the amount of such Lender’s Pro Rata Share of the Loan in immediately available funds not later than the times designated in Section 12.3(b). Unless Administrative Agent shall have been notified by any Lender not later than the close of business (San Francisco time) on the Business Day immediately preceding the Effective Date in respect of any disbursement that such Lender does not intend to make available to Administrative Agent such Lender’s Pro Rata Share of such disbursement, Administrative Agent may assume that such Lender shall make such amount available to Administrative Agent. If any Lender does not notify Administrative Agent of its intention not to make available its Pro Rata Share of such disbursement as described above, but does not for any reason make available to Administrative Agent such Lender’s Pro Rata Share of such disbursement, such Lender shall pay to Administrative Agent forthwith on demand such amount, together with interest thereon at the Federal Funds Rate. In any case where a Lender does not for any reason make available to Administrative Agent such Lender’s Pro Rata Share of such disbursement, Administrative Agent, in its sole discretion, may, but shall not be obligated to, fund to Borrowers such Lender’s Pro Rata Share of such disbursement. If Administrative Agent funds to Borrowers such Lender’s Pro Rata Share of such disbursement and if such Lender subsequently pays to Administrative Agent such corresponding amount, such amount so paid shall constitute such Lender’s Pro Rata Share of such disbursement. Nothing in this Section 12.3(a) shall alter the respective rights and obligations of the parties hereunder in respect of a Defaulting Lender or a Non-Pro Rata Advance. (b) Requests by Administrative Agent for funding by Lenders of disbursements will be made by telecopy. Each Lender shall make the amount of its disbursement available to Administrative Agent in Dollars and in immediately available funds, to such bank and account, in El Segundo, California (to such bank and account in such other place) as Administrative Agent may designate, not later than 9:00 A.M. (San Francisco time) on the date designated by Administrative Agent with respect to such disbursement, which date shall be not earlier than three (3) Business Days following Lender’s receipt of Administrative Agent’s request. (c) Nothing in this Section 12.3 shall be deemed to relieve any Lender of its obligation hereunder to make its Pro Rata Share of disbursements on the date designated by Administrative Agent, nor shall Administrative Agent or any Lender be responsible for the failure of any other Lender to perform its obligations to make any disbursement hereunder, and the Commitment of any Lender shall not be increased or decreased as a result of the failure by any other Lender to perform its obligation to make a disbursement.

  • Loan Commitment Disbursement to Borrower Except as expressly and specifically set forth herein, Lender has no obligation or other commitment to loan any funds to Borrower or otherwise make disbursements to Borrower. Borrower hereby waives any right Borrower may have to make any claim to the contrary.

  • Single Disbursement to Borrower Borrower shall receive only one borrowing hereunder in respect of the Loan and any amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed.

  • Reimbursement Obligation of the Borrowers In the event of any drawing under any Letter of Credit, each Borrower agrees to immediately reimburse the Issuing Lender for amounts paid by the Issuing Lender in respect of draws under each Letter of Credit. In order to facilitate such repayment, each Borrower hereby irrevocably requests that the Lenders make, and the Lenders hereby severally agree to make, on the terms and conditions of this Agreement (other than as provided in Articles 2 and 6 with respect to the amounts of, the timing and form of requests for, and the repayment of, Revolving Credit Loans hereunder and in Section 7.2 with respect to conditions precedent to Revolving Credit Loans hereunder), with respect to any drawing under a Letter of Credit, a Revolving Credit Loan bearing interest at the Base Rate commencing on the day on which any drawing is made under any Letter of Credit and in the aggregate amount of such drawing plus any amounts referred to in Section 3.3(c) incurred by the Issuing Lender in connection with such draw, the proceeds of which shall be applied to reimburse the Issuing Lender for the amount of the related drawing and costs and expenses. Each Lender acknowledges and agrees that its obligation to fund a Revolving Credit Loan in accordance with this Section 3.5 to reimburse the Issuing Lender for any draft paid under a Letter of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including non-satisfaction of the conditions set forth in Section 2.3(a) or Article 7.

  • Agent Advances (i) Subject to the limitations set forth below, the Agent is authorized by the Borrower and the Revolving Credit Lenders, from time to time in the Agent’s sole discretion, upon notice to the Revolving Credit Lenders, (A) after the occurrence of a Default or an Event of Default, or (B) at any time that any of the other conditions precedent set forth in Article IX have not been satisfied, to make Base Rate Loans to the Borrower on behalf of the Lenders in an aggregate principal amount outstanding at any time not to exceed 10% of the Borrowing Base (provided that the making of any such Loan does not cause the Aggregate Revolver Outstandings to exceed the Maximum Revolver Amount) which the Agent, in its good faith judgment, deems necessary or desirable (1) to preserve or protect the Collateral, or any portion thereof, (2) to enhance the likelihood of, or maximize the amount of, repayment of the Loans and other Obligations (including through Base Rate Loans for the purpose of enabling Holdings and its Subsidiaries to meet their payroll and associated Tax obligations), and/or (3) to pay any other amount chargeable to the Borrower pursuant to the terms of this Agreement, including costs, fees and expenses as described in Section 14.7 (any of such advances are herein referred to as “Agent Advances”); provided, that the Required Lenders may at any time revoke the Agent’s authorization to make Agent Advances. Any such revocation must be in writing and shall become effective prospectively upon the Agent’s receipt thereof. (ii) The Agent Advances shall be secured by the Collateral Agent’s Liens in and to the Collateral and shall constitute Base Rate Loans and Obligations hereunder.

  • Disbursement of the Loan Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA. · Disbursements may be made in increments as needed. · Other conditions may be imposed by SBA pursuant to general requirements of SBA. · Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement. · NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD. · This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and assigns and will inure to the benefit of SBA and its successors and assigns.

  • Request for Incurrence of Letter of Credit Obligations Borrower shall give Agent at least 2 Business Days' prior written notice requesting the incurrence of any Letter of Credit Obligation. The notice shall be accompanied by the form of the Letter of Credit (which shall be acceptable to the L/C Issuer) and a completed Application for Standby Letter of Credit or Application and Documentary Letter of Credit or Application for Documentary Letter of Credit (as applicable). Notwithstanding anything contained herein to the contrary, Letter of Credit applications by Borrower and approvals by Agent and the L/C Issuer may be made and transmitted pursuant to electronic codes and security measures mutually agreed upon and established by and among Borrower, Agent and the L/C Issuer.

  • Reimbursement Obligation of the Borrower The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Disbursement of Loan Proceeds (a) The Trustee, as the agent of the Trust, shall disburse the amounts on deposit in the Project Loan Account to the Borrower upon receipt of a requisition executed by an Authorized Officer of the Borrower, and approved by the Trust, in a form meeting the requirements of Section 5.02(3) of the Bond Resolution. (b) The Trust and Trustee shall not be required to disburse any Loan proceeds to the Borrower under this Loan Agreement, unless: (i) the proceeds of the Trust Bonds shall be available for disbursement, as determined solely by the Trust; (ii) in accordance with the Bond Act, and the Regulations, the Borrower shall have timely applied for, shall have been awarded and, prior to or simultaneously with the Loan Closing, shall have closed a Fund Loan for a portion of the Allowable Costs (as defined in such Regulations) of the Project in an amount not in excess of the amount of Allowable Costs of the Project financed by the Loan from the Trust; (iii) the Borrower shall have on hand moneys to pay for the greater of (A) that portion of the total Costs of the Project that is not eligible to be funded from the Fund Loan or the Loan, or (B) that portion of the total Costs of the Project that exceeds the actual amounts of the loan commitments made by the State and the Trust, respectively, for the Fund Loan and the Loan; and (iv) no Event of Default nor any event that, with the passage of time or service of notice or both, would constitute an Event of Default shall have occurred and be continuing hereunder.

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