Manner of Disbursement. Lender shall make Disbursements to Borrower directly into Borrower’s Operating Account; provided, that if an Event of a Default exists and Lender elects to make a Disbursement to Borrower in its sole discretion, Lender may, at its option, make said Disbursement to Borrower through a title insurance company, or directly or by joint payee check to contractors, material suppliers, laborers and other persons entitled thereto.
Manner of Disbursement. Borrower hereby irrevocably authorizes Lender to disburse the proceeds of each Revolving Credit Loan requested, or deemed to be requested, as follows: (i) the proceeds of each Revolving Credit Loan requested under Section 2.2(d) shall be disbursed by Lender by wire transfer to such bank account as may be agreed upon by Borrower and Lender from time to time or elsewhere if pursuant to written direction from Borrower with consent of Lender; and (ii) the proceeds of each Revolving Credit Loan deemed to be requested under Section 2.2(d) shall be disbursed by Lender by way of direct payment of the relevant interest or other Obligation.
Manner of Disbursement. The said Escrow Deposit shall be held in escrow by the Escrow Agent as assurance for performance of Guarantor's Obligations and shall be disbursed by the Escrow Agent as follows: following Borrower's delivery of the written statement contemplated by Section 5.01 above, the Escrow Agent shall pay the Escrow Deposit (or such lesser amount as may be requested by Borrower) to Borrower within five (5) business days of receipt by the Escrow Agent of such written statement.
Manner of Disbursement. Disbursements shall be made by Lender in accordance with the applicable provisions of the Disbursement Schedule. The Disbursements shall be made to the General Contractor or other Persons who have actually supplied labor, material or services in connection with or incident to the construction of the Improvements (including Lender), or to such other accounts as may have been approved in writing by Lender, at Lender’s option; provided, however, that Disbursements shall be made directly by Lender to Borrower for those items that have been previously paid for by Borrower or its Affiliates and for Borrower’s overhead and administration.
Manner of Disbursement. The Term Loans shall ---------------------- be disbursed, in full, on the date hereof.
Manner of Disbursement. Disbursement of the Loan proceeds shall be governed by the terms of the Disbursing Agreement. Notwithstanding anything to the contrary set forth herein, no Covered Party shall have any liability to any Person with respect to the disbursement of the Loan proceeds if done in accordance with this Loan Agreement and the Disbursing Agreement, and such disbursement shall not be deemed to be an approval or acceptance by any Covered Person of any plans, specifications, work or materials done or furnished, or equipment, inventory, or other or property purchased, with respect to the Project, or a representation by any Covered Person as to the fitness of such plans, specifications, work, materials, equipment, inventory, or property. The parties acknowledge that the Loans are to be funded with monies provided by the Lenders’ investor member, and that the Lenders are under no obligation to disburse Loan proceeds unless and until all necessary preconditions to disbursement set forth herein and in the other Loan Documents shall have been satisfied to the satisfaction of the Lenders and their investor member, and that if all conditions precedent to funding are not immediately satisfied, significant time delays might occur in the funding of such monies by the Lenders. Without limiting the generality of Section 4 hereof, in no event shall the Lenders be liable to Borrower for any damages whatsoever which might result in whole or in part from any such delays in funding any Loan proceeds.
Manner of Disbursement. The amount of each disbursement shall be remitted to Grantee in (U.S. Bank Name: （Bank Name and Branch Name） Address: Account Name: Account Number: Swift ABA
Manner of Disbursement. City and Developer agree to meet at least once a month for an on-site construction draw meeting to evaluate the progress and status of the Project construction. Developer shall organize and schedule such meetings, at such times as are mutually satisfactory. At least five (5) days prior to the construction draw meeting, the Developer shall provide City an itemized statement segregating the City funded costs (consistent with Section 1.01) and showing the percentage of construction work completed since the last construction draw meeting on a form acceptable to City which shall be used as a basis for reviewing disbursement requests. The City shall have ten (10) business days from the date City staff receives a complete request for disbursement of funds to request information or corrections. Copies of all requests for disbursement of funds submitted by Developer to any lender must be provided to City and no request shall be considered complete until it includes all of the following:
Manner of Disbursement. Proceeds of the Notes shall be disbursed on the Closing Date, at which time the Loans will be fully funded, or will be disbursed after the Closing Date by Lender from time to time in Lender's sole and absolute discretion.
Manner of Disbursement. In The Event That The Developer Fails to Complete The Improvements in Accordance With This Agreement, and Such Failure Continues for Thirty (30) Days After The City Gives Notice of Such Failure to The Developer at The Developer’s Address Set Forth Below, The City Shall Have The Right, but not The Obligation, to Complete or Cause to be Completed The Improvements at The Sole Expense of The Developer. The City May Withdraw and Apply Amounts on Deposit in The Deposit Account to Pay the Costs of Completing the Improvements.
