Common use of Loan of Funds Clause in Contracts

Loan of Funds. The Borrower hereby requests Lender and Lender hereby agrees, on the terms and conditions set forth in this Agreement, to establish a loan for the benefit of Borrower in an amount not to exceed ($ ) (hereinafter, “Loan”). Borrower shall expend all funds received from Lender pursuant to this Agreement only for the purpose of completion of the project described in the Loan Approval Statement attached hereto as Attachment A-1 (hereinafter, “Project”), the Engineering Report (as defined in Attachment A-1), and Borrower’s Loan Application. The Project shall be completed within 12 months of the Effective Date (“Project Completion Date”). The Project Completion Date may be extended only on Lender’s prior written approval as provided for in Section 13 of this Agreement.

Loan of Funds. The Borrower hereby requests Lender Xxxxxx and Lender Xxxxxx hereby agrees, on the terms and conditions set forth in this Agreement, to establish a loan for the benefit of Borrower in an amount not to exceed DOLLARS ($ ) (hereinafter, “Loan”). Borrower shall expend all funds received from Lender pursuant to this Agreement only for the purpose of completion of the project described in the Loan Approval Statement attached hereto as Attachment A-1 (hereinafter, “Project”), the Engineering Report (as defined in Attachment A-1), and BorrowerXxxxxxxx’s Loan Application. The Project shall be completed within 12 months of the Effective Date (“Project Completion Date”). The Project Completion Date may be extended only on LenderXxxxxx’s prior written approval as provided for in Section 13 of this Agreement.

Loan of Funds. The Borrower hereby requests Lender and Lender hereby agrees, on the terms and conditions set forth in this Agreement, to establish a loan for the benefit of Borrower in an amount not to exceed DOLLARS ($ ) (hereinafter, “Loan”). Borrower shall expend all funds received from Lender pursuant to this Agreement only for the purpose of completion of the project described in the Loan Approval Statement attached hereto as Attachment A-1 (hereinafter, “Project”), the Engineering Report (as defined in Attachment A-1), and Borrower’s Loan Application. The Project shall be completed within 12 months of the Effective Date (“Project Completion Date”). The Project Completion Date may be extended only on Lender’s prior written approval as provided for in Section 13 of this Agreement.