Release of Loan Sample Clauses

Release of Loan. 2.1 The release of funds with respect to the sanctioned projects, shall be made by NABARD on the basis of application in prescribed format submitted by the Finance Department (nodal department) of the State Government after satisfactory completion of all the formalities. Along with each drawal application State Govt. shall also furnish Utilization Certificate in respect of the entire amount of previous loan installment released. 2.2 Borrowings of State Governments under MIF shall be governed by Article 293 (3) of the Constitution of India under which GoI determines its borrowing powers from the market and financial institutions during a financial year and Article 293 (1), under which limits are fixed by the State Legislature for borrowing. Disbursements shall be made only after receipt of Borrowing Power approval from GoI under Article 293 (3) of Constitution of India by the State Government. 2.3 NABARD shall disburse the loan amount based on submission of a statement of expenditure incurred by the State Govt. and due recommendation from MoA&FW, GoI. The loan to be so disbursed shall be restricted to the amount of the statement of expenditure and recommendation for release of loans by MoA&FW. Drawal application will be submitted based on actual expenditure incurred even ahead of phasing given in the sanction. 2.4 The State Government shall submit its tentative requirement of funds to NABARD one month prior to the expected date of disbursement. NABARD shall disburse the requisitioned amount within 15 days of getting drawal application, complete in all respects along with all necessary documents from the State Govt. and due recommendation from MoA&FW, GoI. In order to raise resources from the market through issuance of bonds with minimum lot size, the demands received from the States shall be clubbed by NABARD till the minimum amount of Rs. 500 cr is reached and the period of 15 days may be reckoned from the date on which such amount is reached. 2.5 The State Government would make adequate budgetary provision annually for repayment of loan under MIF and interest thereon. 2.6 Each disbursement would be treated as a separate loan and would have prescribed repayment schedule. 2.7 In the event that State Government after giving one month’s notice, does not avail funds raised by NABARD upon drawal request by the State Government, it shall be liable for financial loss suffered by NABARD in this process. This loss will be determined based on the difference between ...
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Release of Loan. 2.1 Unless Party A agrees to give up all or part of the conditions under this Article in written form, when and only when the following terms continue to meet and the trustor issued Loan Notice, Party A is obligated to issue Loan to Party B: 2.1.1 Party B has obtained the internal authority’s valid agreement of this Loan in accordance with relevant laws and corporate regulations; 2.1.2 The Agreement has been signed and entered into force without any violation of the Agreement by Party B; 2.1.3 This Trust takes effect; 2.1.4 Party B has provided the irrevocable Loan IOU to Party A; 2.1.5 Party B has submitted all documents required by Party A as follows: (1) The sealed business license (copy) of corporation; (2) The sealed valid corporate bylaws (copy); (3) The sealed legal representative’s ID card (copy); (4) The sealed annual financial audit reports of previous year and financial statements of the last three months (copy); (5) The internal authority’s valid agreement or documents in approval of this Loan;
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Release of Loan. 7.1 Unless the lender waives all or part of the following releasing requirements, the lender is only obligated to release loans to the borrower when the following requirements are fully and continually met: (1) ZRIT has established the trust plan; (2) The borrower has opened the special account for the trust loan according to section 10 of the agreement, and the account balance shall be no less than 50 million yuan. (3) The borrower has submitted board resolution and authorization for execution of the agreement with the lender, the list for people who have the authority to sign the agreement and related documents, and signature samples of those people. (4) The borrower has obtained all authorization, permit, approval and/or filings (if any) with the government, and provided them to the lender. (5) The borrower has provided irrevocable loan receipt to the lender. (6) This agreement, Special Escrow Account Agreement (No. 2013202011005004) for the Trust Loan (hereinafter referred to as Escrow Account Agreement) and Account Confirmation Agreement (No. 2013202011005003) (hereinafter referred to as Account Confirmation Agreement) have been signed and come into force. (7) Pledge Agreement and Guarantee Agreement described in section 9 have been signed and come into force, and relevant notarization has been completed. (8) The warranties and representations in the agreement are true, and complete. (9) The borrower does not breach the agreement, and has no adverse effect on the Pledge Agreement, Guarantee Agreement, Account Confirmation Agreement and Escrow Account Agreement. (10) Operating conditions (including but not limited to financial situation) of the borrower have no material change that could cause adverse impact on the transaction under the agreement. (11) Laws, regulations, rules or government authorities do not prohibit or restrict the lender to release the loan. (12) Other prerequisites requested by the lender. 7.2 When all the conditions described above are met, ZRIT shall release the loan from the special account of trust loan properties to the following special account of trust loan. Account information: Bank name: Xi’an Cheng Xi Branch, Bank of Xi’an Account name: Xi’an TCH Energy Technology Co., Ltd. Account number: xxxxxx000
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Release of Loan. 2.1 in addition to Party A in written form agreed to give up all or part of the conditions of the provisions of this article, when and only when the following terms of loan, continue to meet and the client issued "loan notice, Party A shall not be obligated to Party B Loan: 2.1.1 Party B has made the relevant laws and regulations and the articles of association of the company to obtain the right to agree with the effective resolution of this loan; 1.1.2 this contract has been signed and entered into force, and Party B has not been in breach of this contract; 2.1.3 this trust has entered into force; 2.1.4 Party B to provide Party A irrevocable "borrowing IOU"; 2.1.5 Party B has submitted to Party A all the information requested by Party A, and the information is as follows: (1) Party B shall submit a copy of the business license of the enterprise legal person (a copy) with the official seal of the company; (2) Party B shall submit to Party A the current and effective regulations (copies) of Party B with the official seal; (3) Party B shall submit to Party A the legal representative ID card (photocopy) with the official seal; (4) Party B shall submit the annual financial audit report and the financial statements (copies) within the last three months of the year by the party A; (5) Party B shall submit to Party A the right to approve the loan, the effective resolution or document of this loan; (6) the relevant materials required by the other Party A to provide loans; 2.1.6 Borrower [Wuhan kingod Co., Ltd. on its loans to the trust provides pledge, mortgage security matters issued by the internal corporation has the right to the examination and approval authority pledge collateral matters of legitimate and effective resolution, and signed by Party A. the NT support word 10-000-000-000 the pledge contract "and NT support word 10-000-000-000" mortgage contract "has been in force and completed the mortgage registration; 2.1.7 Assurance in Wuhan show only Jewelry Co., Ltd., Jia Zhihong (ID number: 400000000000000000)] has been on its loans to the trust provides joint and several liability assurance of security matters and signed with the Party of the first part of the NT support word 10-000-000-000 "guarantee contract" and NT support word 10-000-000-000 "guarantee contract" has been in force; 2.1.8 Client to obtain the insurance policy in accordance with the requirements;; 2.1.9 The borrower will pledge deposit to the client specified by the client and safe, the i...
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Release of Loan. 3.1 The Loan shall be released by the Lender to the Borrower in the manner and at the times stipulated in the First Schedule. 3.2 Every request for any release of the Loan shall be made in the Form prescribed in Part II of the Second Schedule and that Form must be accompanied by an up to date progress report on the Project which shall contain, inter alia, a time schedule for the implementation of the Project and the financial requirement or commitment in respect of each of the stages of implementation thereof. 3.3 Within SEVEN (7) days after the release of any installment of the Loan to the Borrower, the Borrower shall deliver to the Lender a receipt thereof signed by the Borrower or by his duly authorized representative, in the form set out in Part III of the Second Schedule hereto. 3.4 Notwithstanding the provisions of sub-clause 3.1, the Lender shall be entitled to withhold or defer the release of any portion of the Loan or to cancel or withdraw any part of the Loan which has not been released to the Borrower upon the occurrence of any of the events stipulated in clause 5.3 below, or if the Lender is of the opinion that based on the progress report referred to in clause 3.2, the implementation of the Project has not been satisfactory.
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Release of Loan. 3.1 The Loan shall be released by the Lender to the Borrower in the manner and at the times stipulated in the First Schedule. 4.2 If the Borrower fails to effect repayment of the Loan punctually on the date when the same becomes due under clause 5.1 hereto, then, without prejudice to the rights of the Lender under clause 5.3, the Borrower shall pay interest at the rate of 7.75% per annum on the sum of loan plus interest overdue from the date such sum is due for payment under the Third Schedule until the date of actual payment thereof and such interest shall be paid by the Borrower to the Lender on demand.
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Release of Loan. 2.1 The Parties agree that when and only when the Borrower is to pay the Payable Amounts, he shall have the right to submit to the Lender a drawdown application requesting the release of the relevant Loan by any means of communication set forth in Article 10.1 hereof three (3) business days prior to the expected drawdown date. The drawdown application shall meet the following conditions: (1) The expected drawdown date shall be a business day; (2) The following bank account shall be designated as the account for receipt of the Loan (the “Beneficiary Account”): Account Name: XIE Shihuang Bank: Industrial and Commercial Bank of China Limited, Hangzhou High-tech Development Zone Subbranch Account No.: (3) The evidence of the Payable Amounts that required to be paid by the Borrower shall be attached thereto (e.g. the written instruction from the Financing Provider in the form of written notice, email or otherwise requesting the Borrower to pay the Payable Amounts). 2.2 Subject to the following conditions, the Lender shall, after receipt of the drawdown application under Article 2.1, release the relevant principal amount of the Loan as requested to be drawn down in the drawdown application to the Beneficiary Account on the expected drawdown date: (1) No Event of Default hereunder has occurred on the part of the Borrower; (2) The aggregate of the principal amount of the Loan requested to be drawn down in the drawdown application and the principal amount of the Loan then released by the Lender shall not exceed the maximum principal amount of the Loan specified in Article 1.1 hereof.
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Related to Release of Loan

  • Release of Lender Notwithstanding any other provision of any Loan Document, Borrower voluntarily, knowingly, unconditionally and irrevocably, with specific and express intent, for and on behalf of itself, its managers, members, directors, officers, employees, stockholders, Affiliates, agents, representatives, accountants, attorneys, successors and assigns and their respective Affiliates (collectively, the “Releasing Parties”), (i) hereby fully and completely releases and forever discharges the Indemnified Persons and any other Person or insurer which may be responsible or liable for the acts or omissions of any of the Indemnified Persons, or who may be liable for the injury or damage resulting therefrom (collectively, with the Indemnified Persons, the “Released Parties”), of and from any and all actions, causes of action, damages, claims, obligations, liabilities, costs, expenses and demands of any kind whatsoever, at law or in equity, matured or unmatured, vested or contingent, that any of the Releasing Parties has against any of the Released Parties as of the date of the Closing and (ii) by acceptance of each Advance hereunder fully and completely releases and forever discharges the Released Parties, of and from any and all actions, causes of action, damages, claims, obligations, liabilities, costs, expenses and demands of any kind whatsoever, at law or in equity, matured or unmatured, vested or contingent, that any of the Releasing Parties has against any of the Released Parties as of the date of each such Advance. Borrower acknowledges that the foregoing release is a material inducement to Lender’s decision to extend to Borrower the financial accommodations hereunder and will be relied upon by Lender in making the Advances.

  • Use of Loan 3.1 The borrower shall use the long-term loan for purchasing [·]% of shares of [VIE] and any other application of this long-term loan shall obtain earlier written consent from Sina Company. 3.2 During the life of loan, the borrower shall neither transfer partial or all its shares of [VIE] to any third party nor set any security against such shares without prior approval given by Sina Company in written form.

  • Release of Funds On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest on the Notes will become due and payable and that interest on the Notes will cease to accrue from and after the Redemption Date, unless the Issuer fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Collateral from the Lien of this Indenture and release to the Issuer or any other Person entitled to funds then in the Bank Accounts under this Indenture according to Section 8.4(c).

  • Termination of Commitment to Lend Notwithstanding anything in the Loan Documents, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at Lender’s sole election, the occurrence of any Default or Event of Default hereunder, and (ii) the applicable Commitment Termination Date. Notwithstanding the foregoing, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower shall terminate if, in Lender’s sole judgment, there has been a material adverse change in the general affairs, management, results of operations, condition (financial or otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender on or before the date of this Agreement.

  • Release of a Guarantor (a) Upon (i) the sale or disposition of the Capital Stock of a Guarantor (other than the Company) by the Company in compliance with Section 4.16 or the consolidation or merger of a Guarantor with or into any Person in compliance with Article 5, in each case, (A) other than to the Company or a Restricted Subsidiary of the Company and (B) in a transaction following which the applicable Guarantor is no longer a Restricted Subsidiary or (ii) the liquidation or dissolution of any Guarantor (other than the Company) in accordance with this Indenture, such Guarantor’s Guarantee pursuant to this Article 10 shall be released, and such Guarantor shall be deemed released from all Obligations under this Indenture and the Securities without any further action required on the part of the Trustee or any Holder. Any Guarantor not so released or the entity surviving such Guarantor, as applicable, shall remain or be liable under its Guarantee as provided in this Article 10. Concurrently with the defeasance or satisfaction and discharge of the Securities under Article 8 hereof, the Guarantors shall be released from all of their obligations under this Indenture and the Securities. In addition, a Guarantor’s Guarantee will also be released and such Guarantor will also be released from all Obligations under this Indenture and the Securities (x) (1) if such Guarantor is released from any and all guarantees of Indebtedness of the Issuer and the Company and (2) if such Guarantor will remain a Subsidiary of the Company, it has no other outstanding Indebtedness other than Indebtedness which could be incurred by a Restricted Subsidiary that is not a Guarantor of the Securities on the date of the proposed release of such Guarantor’s Guarantee, (y) if the Company designates such Guarantor to be an Unrestricted Subsidiary in accordance with Section 4.03 and the definition of “Unrestricted Subsidiary” or (z) the Issuer exercises its Legal Defeasance option or Covenant Defeasance option as described in Section 8.02 or if the Issuer’s obligations under this Indenture are discharged in accordance with the terms hereof. (b) The Trustee shall deliver an appropriate instrument evidencing the release of a Guarantor upon receipt of a request by the Issuer or such Guarantor accompanied by an Officer’s Certificate of the Issuer and, upon written request, an Opinion of Counsel certifying as to the compliance with this Section 10.04; provided the legal counsel delivering such Opinion of Counsel may rely as to matters of fact on one or more Officer’s Certificates of the Issuer. The Trustee shall execute any documents reasonably requested by the Issuer or a Guarantor in order to evidence the release of such Guarantor from its Obligations under its Guarantee pursuant to this Article 10. Except as set forth in Articles 4 and 5 and this Section 10.04, nothing contained in this Indenture or in any of the Securities shall prevent any consolidation or merger of a Guarantor with or into the Issuer or another Guarantor or shall prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the Issuer or another Guarantor.

  • Release of Lien (a) The Issuer shall be entitled to obtain a release from the Lien of the Indenture for any Timeshare Loan purchased, repurchased or substituted under Section 4.6 hereof, (i) upon satisfaction of each of the applicable provisions of Section 4.6 hereof, (ii) in the case of any purchase or repurchase, after a payment by the Depositor of the Repurchase Price of the related Timeshare Loan, and (iii) in the case of any substitution, after payment by the Depositor of the applicable Substitution Shortfall Amounts, if any, pursuant to Section 4.6 hereof. (b) The Issuer shall be entitled to obtain a release from the Lien of the Indenture for any Timeshare Loan which has been paid in full. (c) In addition, at the written direction of the Servicer, on any Payment Date if (i) Available Funds are sufficient to pay the Required Payments, (ii) the amount on deposit in the General Reserve Account is at least equal to the General Reserve Account Required Balance, (iii) the amount on deposit in the Force Majeure Loan Reserve Account is at least equal to the Force Majeure Required Reserve Amount, (iv) no Event of Default has occurred and is continuing, (v) the Optional Purchase Limit is greater than zero and (vi) the Aggregate Outstanding Note Balance is not greater than the Principal Advance Rate Percentage times the sum of the Aggregate Loan Balance and the Prefunding Loan Balance, the Indenture Trustee shall release or shall consent to the release of Defaulted Timeshare Loans that have not been purchased, repurchased or substituted under Section 4.6 hereof from the Lien of the Indenture, without additional payment. (d) In connection with (a), (b) and (c) above, the Issuer and Indenture Trustee will execute and deliver such releases, endorsements and assignments as are provided to it by the Depositor, in each case, without recourse, representation or warranty, as shall be necessary to vest in the Depositor or its designee, the legal and beneficial ownership of each Timeshare Loan being released pursuant to this Section 4.7. The Servicer shall deliver a Request for Release to the Custodian with respect to the related Timeshare Loan Files and Timeshare Loan Servicing Files being released pursuant to this Section 4.7, and such files shall be transferred to the Depositor or its designee.

  • Purpose of Loan The Borrower undertakes with each Creditor Party to use the Loan only for the purpose stated in the preamble to this Agreement.

  • Use of Loan Proceeds The Borrower shall use the credit extended under this Agreement solely for the purposes set forth in, or otherwise permitted by, Section 6.4 hereof.

  • Prepayment; termination of Commitment On the Agent notifying the Borrower under Clause 23.2, the Notifying Lender’s Commitment shall terminate; and thereupon or, if later, on the date specified in the Notifying Lender’s notice under Clause 23.1 as the date on which the notified event would become effective the Borrower shall prepay the Notifying Lender’s Contribution in accordance with Clause 8.

  • Reduction of Commitment On the last Trading Day of each Pricing Period, the Investor’s Total Commitment under this Agreement automatically (and without the need for any amendment to this Agreement) shall be reduced, on a dollar-for-dollar basis, by the total amount of the Fixed Request Amount and the Optional Amount Dollar Amount, if any, for such Pricing Period paid to the Company at the Settlement Date.

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