Payment of loan funds Sample Clauses

Payment of loan funds. 0. Xxxx issuing account The Borrower shall open the following account with the Lender as the loan issuance account, and the loan issuance and payment shall be handled through this account.☐ This account is a special account and can only be used for the issuance and payment of borrowed funds, not for the receipt and payment of other funds.(Note: This sentence is optional and should be deleted if not applicable) Account Name:Xxxxxxx Xxxx Electromechanical Technology Co., LTD Account Number:483277737262 2. Payment method of borrowed funds (1) The payment method of the borrowed funds shall be implemented in accordance with laws and regulations, regulatory provisions and provisions of this Contract. The payment method of the borrowed funds for a single withdrawal shall be confirmed in the withdrawal application. If the lender considers that the payment method of the borrowed funds selected in the withdrawal application does not meet the requirements, it has the right to change the payment method or stop the release and payment of the borrowed funds. (2) Entrusted payment by the Lender means that the Lender pays the borrowed funds to the Borrower’s counterparty conforming to the purpose agreed herein according to the Borrower’s withdrawal application and payment authorization.According to the relevant regulations of the CBRC and the internal management regulations of the lender, payment of loan funds meeting one of the following conditions shall be made by the lender as entrusted payment: A. The lender and the borrower establish a new credit business relationship, and the borrower’s credit rating does not meet the lender’s internal requirements; B. When the withdrawal application is made, the payment object is clear (with a clear account and account name) and the amount of a single payment exceeds 0 RMB (excluding, the foreign currency is converted at the actual withdrawal day exchange rate ) C. Other circumstances specified by the Lender or agreed with the Borrower: (3) Independent payment by the Borrower, that is, after the Lender releases the loan funds to the borrower’s account according to the borrower’s withdrawal application, the borrower pays the loan funds independently to the borrower’s counterparty meeting the purpose agreed in the contract.Except for the circumstances stipulated in the preceding paragraph, where the lender is to be entrusted with the payment method, other payment methods of the borrowed funds shall be paid by the borrower independent...
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Payment of loan funds. 1. Payment method of loan funds The borrower submits a withdrawal application to the lender, and the lender releases the loan funds after approval of the borrower’s withdrawal application. The Borrower hereby authorizes; the Lender will directly use the funds to repay the borrower’s outstanding principal balance stipulated in Article 3 of this contract; or the Lender shall release the loan funds to the settlement account opened by the Borrower with the Lender, the Lender will directly deducts and to repay the borrower’s outstanding principal balance stipulated in Article 3 of this contract. 2. Specific requirements for payment of loan funds (1) Provision of transaction information. The borrower shall provide the lender with its repayment account and supporting materials proving that the withdrawal meets the purpose stipulated in the loan contract. The borrower shall guarantee that all the materials provided to the lender are true, complete and valid. If the relevant transaction information provided by the borrower is untrue, inaccurate, or incomplete, resulting in the failure of the lender to complete the payment obligation in time, the lender shall not bear any responsibility, and the borrower shall bear the interest, penalty interest and other liability for breach of contract. (2) If the lender finds that the proof for the use of funds and other relevant transaction materials provided by the borrower do not conform to the contract or have other defects, the lender has the right to require the borrower to supplement, replace, explain or resubmit the relevant materials. The lender has the right to refuse the issuance and payment of relevant funds before the relevant transaction materials that the lender deems qualified. 3. In one of the following circumstances, the lender has the right to re-determine the loan disbursement or stop the disbursement of loan funds: (1) The borrower fails to implement the credit approval conditions; (2) The borrower fails to repay the interest payable on the original loan; (3) The borrower is a company blacklisted by our bank or notified by the regulatory agency that there are major risk factors; (4) The borrower or actual controller has unsettled overdue records in the basic financial credit information database; (5) The borrower has bad records caused by malicious acts in the “Information Inquiry of Persons Subject to Enforcement in National Courts” system; (6) The borrower is involved in money laundering, terrorist financin...
Sample 1
Payment of loan funds. ​ 0. Xx any of the following circumstances, payment shall be made by the lender on entrustment. The lender’s entrusted payment method means that the agent bank will disburse the relevant loan funds to the loan fund account on the withdrawal date according to the borrower’s payment entrustment, and transfer the relevant loan funds to the borrower’s counterparty account as soon as possible: ​ (1) The amount of a single payment exceeds 5% of the total project investment; (2) The amount of a single payment exceeds RMB 5,000,000 Yuan (in words: RMB Five Million Yuan Only); or (3) [/].
Sample 1
Payment of loan funds. 1、 Loan disbursement account The borrower shall open the following account with the lender as the loan disbursement account, and the disbursement and payment of the loan shall be processed through this account. Account name: Zai Lab (Shanghai) Co., Ltd. Account number: 784970025636
Sample 1
Payment of loan funds. 1. Payment method of borrowed funds The borrower submits the withdrawal application to the lender, and the lender issues the loan funds after examination and approval according to the withdrawal application of the borrower. The Borrower hereby authorizes that: the Lender shall directly use the borrowed funds to repay the outstanding principal balance of the Borrower as stipulated in Article 3 hereof; Or after the lender issues the loan funds to the settlement account opened by the borrower at the Lender, the lender shall directly deduct the outstanding principal balance of the borrower as agreed in Article 3 hereof. 2. Specific requirements for payment of the loan funds
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Payment of loan funds 
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Related to Payment of loan funds

  • PAYMENT OF LOAN FEE Borrower shall pay to Lender a fee in the amount of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) (the "Loan Fee") plus all out-of-pocket expenses.

  • Payment of Loan 1. The Loan Issuing Account The borrower shall open the following loan account with the lender through which the loan issuance and payment shall be handled. Account Name: Shengfeng Logistics Group Co., Ltd Account Number: **********

  • 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.

  • 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.

  • Repayment of Loan 3.1 The Lender and the Borrowers agree and confirm that the Loan will be repaid in the following manner only: the Borrowers will transfer all of their equity interests in the Borrower Company to the Lender or any legal or natural person designated by the Lender pursuant to requirements from the Lender. 3.2 The Lender and the Borrowers agree and confirm that to the extent permitted by the laws, the Lender has the right but no obligation to purchase or designate any legal or natural person designated by it to purchase all or any part of the equity interests in the Borrower Company from the Borrowers at the price set forth under the Exclusive Purchase Option Agreement. 3.3 It is agreed and confirmed by the Parties that the Borrowers shall be deemed to have fulfilled their repayment obligations hereunder only after both of the following conditions have been satisfied. (1) The Borrowers have transferred all of their equity interests in the Borrower Company to the Lender and/or their designated person; and (2) The Borrowers have repaid to the Lender all of the transfer proceeds or an amount equivalent to the maximum amount permitted by the laws. 3.4 The Loan will be deemed as a zero interest loan if the price to transfer the equity interests in the Borrower Company to the Lender from the Borrowers concluded by the Parties under this Agreement any other related agreements is equal or less than the amount of the Loan. Under such circumstance, the Borrowers are not required to repay any remaining amount of and/or any interest upon the Loan; provided, however, that if the equity interest transfer price exceeds the amount of the Loan, the exceeding amount will be deemed as the interest upon the Loan (calculated by the highest interest permitted by the PRC laws) and financing cost thereof. 3.5 Notwithstanding anything to the contrary, if the Borrower Company goes bankruptcy, dissolution or is ordered for closure during the term or extended term of this Agreement, and Borrowers will liquidate the Borrower Company according to laws and all of the proceeds from such liquidation will be used to repay the principal, interest (calculated by the highest interest permitted by the PRC laws) and financing cost of the Loan.

  • Disbursement of Advance Proceeds All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers’ Account on Agent’s books. The proceeds of each Revolving Advance or Swing Loan requested by Borrowing Agent on behalf of any Borrower or deemed to have been requested by any Borrower under Sections 2.2(a), 2.6(b) or 2.14 hereof shall, (i) with respect to requested Revolving Advances, to the extent Lenders make such Revolving Advances in accordance with Section 2.2(a), 2.6(b) or 2.14 hereof, and with respect to Swing Loans made upon any request or deemed request by Borrowing Agent for a Revolving Advance to the extent Swing Loan Lender makes such Swing Loan in accordance with Section 2.4(b) hereof, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower’s operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, (ii) with respect to Revolving Advances deemed to have been requested by any Borrower or Swing Loans made upon any deemed request for a Revolving Advance by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request. During the Term, Borrowers may use the Revolving Advances and Swing Loans by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof.

  • Repayment of Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Loans outstanding on such date.

  • Prepayment of Loan So long as ECOLOGY shall hold this loan, the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount . Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest, the RECIPIENT shall first contact ECOLOGY’s Revenue/Receivable Manager of the Fiscal Office.

  • Prepayment of Loans (a) The Borrower shall have the right at any time and from time to time up to 3:00 p.m., New York City time on any Business Day to prepay any Loan in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section; provided that interest will accrue on such amount being prepaid until the next business day if such payment is received after 3:00 p.m., New York City time. (b) The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan or an Uncommitted Swingline Loan, the Swingline Lenders or the applicable Uncommitted Swingline Lenders, as the case may be) by telephone (confirmed by electronic communication or facsimile) of any prepayment hereunder not later than 12:00 noon, New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

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