Loan Disbursement and Payment Sample Clauses

Loan Disbursement and Payment. 1. Prerequisites for the first withdrawal Party A shall fully meet the following conditions when drawing money for the first time: [/] 2. Prerequisites for each withdrawal For each withdrawal under the Contract (including the first withdrawal), Party A must also meet the following conditions: (1) Party A has not violated the provisions or agreements of the Contract, the guarantee documents and other relevant documents. (2) The guarantee documents remain valid, and the guarantee has not undergone or will undergo adverse changes that Party B considers may be detrimental to the realization of its creditor’s rights. (3) The collateral or pledge under the security documents has not been sealed up, and the maximum amount of guarantee has not been confirmed. (4) Party A has no adverse change in its financial condition that may endanger, delay or prevent Party A from performing its obligations and liabilities under the Contract and the guarantee documents. (5) Party A has signed or provided Party B with the documents agreed or reasonably requested by Party B. (6) Party A has opened relevant accounts as agreed herein or as required by Party B. (7) Under the “pay-as-you-go” mode, Party A shall also comply with the admission conditions for credit products for small and micro enterprises set by Party B, as well as relevant institutional requirements for the “pay-as-you-go” business function of small and micro enterprises, Party A does not misappropriate the loan of Party B and there is no outstanding non-performing loan, outstanding advance payment or outstanding interest in the credit information of the People’s Bank of China. The actual controller of Party A or its guarantor has no overdue loan in the credit information of the People’s Bank of China, and Party A is not the borrower of the restructured loan business. (8) There are no provisions of laws and regulations or regulatory requirements that prohibit or restrict the disbursement of the loan hereunder. (9) [/] (10) Other conditions required by Party B. 3. Withdrawal plan (1) Under the “non-pay-as-you-go” mode, Party A shall withdraw in accordance with the following plan [②]. ① Withdrawal schedule [MM/DD/YYYY] RMB￥ [/] [MM/DD/YYYY] RMB￥ [/] [MM/DD/YYYY] RMB￥ [/] [MM/DD/YYYY] RMB￥ [/] [MM/DD/YYYY] RMB￥ [/] The planned withdrawal date shall be a working day for the bank. If the planned withdrawal date is not a working day for the bank, it shall be adjusted to the previous working day for the bank. ② [One-time wit...
Sample 1
Loan Disbursement and Payment. (a) Any payment of a Loan under any Facility of this Agreement shall be made by way of "entrusted payment by the Lenders". After the funds of relevant Loans are remitted into the Loan Disbursement Account in accordance with paragraph (b) of Clause 5.4 (Lenders' participation) above, the Facility Agent shall promptly remit such Loans funds directly to the relevant payee in accordance with the payment instructions given by the Borrower and the details under paragraph (d) of Clause 5.2 (Completion of a Utilisation Request) within the time permitted by laws and regulations or the Facility Agent's internal operating guidelines. The Facility Agent is entitled to refuse to make the advance or payment if the payee or payment account number under the payment instructions given by the Borrower does not match the detailed documents provided; (b) In respect of any payment directly to the relevant payee by the Facility Agent pursuant to paragraph (a) above, if it is returned to the Loan Disbursement Account of the Borrower due to the incomplete or incorrect payment elements filled in by the Borrower or any reason not attributable to the Lenders, the Facility Agent is entitled to suspend credit to the Loan Disbursement Account for such returned amount or freeze such returned amount credited to the Loan Disbursement Account until the Borrower re-submits the correct and complete payment instructions. (c) The Borrower hereby undertakes and warrants to the Facility Agent that: (i) the Facility Agent shall not assume any responsibility for the authenticity, accuracy, appropriateness or validity of any document provided by the Borrower even if the Facility Agent conducted the examination of such documents and has made the entrusted payment accordingly; (ii) the Borrower shall not instruct the Facility Agent to pay the Loan proceeds to other bank account(s) opened by the Borrower; and (iii) the Borrower shall not evade any regulation of the Lenders in relating to the minimum utilisation limit under the entrusted payment by way of breaking down the whole amount into parts. (d) Upon the occurrence of any Event of Default, the Facility Agent is entitled to suspend any payment of any Loan and cease any utilisation of any amount in the Loan Disbursement Account without prejudice to any other consequence of any Event of Default.
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. 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 
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Related to Loan Disbursement and Payment

  • Reimbursement Obligation of the Borrowers If any draft shall be presented for payment under any Letter of Credit, the Issuing Lender shall notify the Borrowers and the Administrative Agent of the date and the amount thereof. The Borrowers agree to reimburse the Issuing Lender (whether with their own funds or with proceeds of the Loans) on each date on which the Issuing Lender pays a draft so presented under any Letter of Credit for the amount of (i) such draft so paid and (ii) any taxes, fees, charges or other costs or expenses incurred by the Issuing Lender in connection with such payment. Each such payment shall be made to the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Each unreimbursed drawing under any Letter of Credit shall constitute a request by the Borrowers, subject to the provisions of Section 2.1, to the Administrative Agent for ABR Loans in the amount of such drawing. The borrowing date with respect to any such ABR Loans shall be the date of the remittance by the Issuing Bank of the proceeds of such drawing. If ABR Loans are not available on the date when the Issuing Lender pays a draft, interest shall be payable on any and all amounts remaining unpaid by the Borrowers under this subsection from the date of payment of the applicable draft to but excluding the date of payment in full thereof, (x) for the period commencing on the date of payment of the applicable draft to the date which is 3 days thereafter, at the rate which would be payable on ABR Loans at such time and (y) thereafter, at the rate which would be payable on ABR Loans at such time plus 2%.

  • 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.