No Further Disbursements Clause Samples
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No Further Disbursements. Lender has no obligation to disburse Loan proceeds at the Closing Date or thereafter except as provided herein. In its sole discretion, Lender may make further disbursements (for example, to pay mechanics’ liens or otherwise preserve the Collateral), following written demand to Borrower and Borrower’s failure to pay within the time limits provided in such demand, and all such disbursements will be deemed advances under the Note and secured by the Security Documents.
No Further Disbursements. Borrower agrees that the Loan has been fully disbursed by Lender, that the outstanding principal balance of the Loan as of the date hereof is the full face amount of the Note, and that Lender shall have no further duty or obligation to make any additional advances or disbursements to Borrower under the Loan or otherwise.
No Further Disbursements. Lender has no obligation to disburse Loan proceeds after the Maturity Date, even if the Improvements have not been completed. In the event the Improvements have not been completed, Borrower agrees to complete the Improvements diligently using Borrower’s own funds. In its sole discretion, Lender may (but is not obligated to) make further disbursements after the Maturity Date (for example, to pay mechanics’ liens, respond to stop notices or otherwise preserve its collateral), and all such disbursements will be deemed advances under the Note secured by the Mortgage.
No Further Disbursements. The Prospect Parties acknowledge that Karlsson has no obligation to advance any loan proceeds under any of the Loan Documents, whether now or in the future.
No Further Disbursements. Borrower agrees that the Loan has been fully disbursed by Lender. Lender shall have no further duty or obligation to make any additional advances or disbursements to Borrower under the Loan or otherwise.
No Further Disbursements. Upon the termination of this Agreement for any reason, Grantor shall have no further obligation to disburse Grant Funds to Grantee in respect of the Project except that if the Agreement is terminated for impracticability, Grantor shall reimburse Grantee from the remaining balance of Grant Funds (if any) for eligible expenses, including non-cancelable commitments, incurred on or before the termination date as described by Exhibit V.
No Further Disbursements. Lender has no obligation to disburse Loan proceeds after the Maturity Date, even if the Alpine Valley Improvements have not been completed. In the event the Alpine Valley Improvements have not been completed, Borrower agrees to complete the Alpine Valley Improvements diligently using Borrower’s own funds. In its sole discretion, Lender may (but is not obligated to) make further disbursements after the Maturity Date (for example, to pay mechanics’ liens, respond to stop notices or otherwise preserve its collateral), and all such disbursements will be deemed advances under the Note secured by the Mortgage and other Loan Documents.
No Further Disbursements. Upon the termination of this Agreement for any reason, Grantor shall have no further obligation to disburse Grant Funds to Grantee in respect of the Project except that if the Agreement is terminated for impracticability, Grantor shall reimburse Grantee from the remaining balance of Grant Funds (if any) for eligible expenses, including non-cancelable commitments, incurred on or before the termination date as described by Exhibit V. Closeout Report. Within sixty (60) days after the termination of this Agreement pursuant to Section 3.2, Grantee shall submit to Grantor a Closeout Report setting forth a final accounting for the Project including, without limitation, the total expenditure of Grant Funds by Grantee, and a reasonably detailed description of the status of the Project at the time of termination.