LOAN TO BORROWER; AMOUNTS PAYABLE; GENERAL AGREEMENTS. Section 4.01. The Loan. In order to provide funds for the purpose of financing the Costs of the Project and to pay the costs of issuance in connection with the Bond and the loan of the proceeds thereof to the Borrower, the Bank, upon the closing of the Loan, will commit to fund the Loan Commitment Amount, which shall be deposited from time to time in a Project Fund established by the Borrower, in amounts corresponding to each Drawing. The Bank, as the purchaser of the Bond, shall make the Loan to the Borrower from time to time by disbursing amounts to the Borrower upon receipt of a requisition substantially in the form of EXHIBIT E hereto and meeting the requirements of Sections 4.04 and 4.06 hereof; provided, however, no disbursement shall be made if a Loan Default has occurred and is continuing under this Loan Agreement. The proceeds of the Loan shall be used strictly in accordance with Section 3.02(r).
LOAN TO BORROWER; AMOUNTS PAYABLE; GENERAL AGREEMENTS. Section 3.01. The Loan. 23 Section 3.02. Availability of Funds 23 Section 3.03. Requisitions and Disbursements; Conditions Precedent; Interest During Construction. 24
LOAN TO BORROWER; AMOUNTS PAYABLE; GENERAL AGREEMENTS
