Release of the Loan Sample Clauses

Release of the Loan. 1. At any time after the effectiveness of the Series of Agreements and to the extent permitted by the PRC laws and regulations and industrial policies, Party A is entitled to provide Party B with the Loan at such time and in such amount as it deems appropriate at any time in accordance with the terms and conditions hereof. Party B agrees to accept the Loan provided by Party A in accordance with the terms and conditions hereof and issue a receipt to Party A in the form attached hereto as Appendix 1 from the date on which it receives such loan. 2. The funds used by Party A to provide Loans to Party B shall be the Renminbi funds obtained by Party A through business operations or other legal methods that can be used to provide Loans to Party B according to law.
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Release of the Loan. 3.1 The Bank may make the disbursement of the Loan to the Borrower by direct transferring to the Loan Account upon the completion and satisfaction of the conditions precedent stipulated hereinabove and the Borrower has duly submitted to the Bank a duly executed Notice of Utilization and Debt Assumption. 3.2 The Borrower acknowledges that the Borrower has (or will have) received in full the Utilization or the Loan immediately when the utilized amount is credited to the Loan Account. 3.3 The Borrower acknowledges that the Bank is not obliged to make disbursement of the Utilization or the Loan in the following cases: (i) In any event that the Bank is unable to raise the required funds for releasing the Utilization or the Loan; (ii) The Bank is unable to continue its release of the Utilization or the Loan due to the policies, decisions of the relevant State/central Bank or the related government authorities; or (iii) Any other cases as stipulated by relevant laws and regulations. For any case as stipulated above, the Bank shall not be liable to compensate for any loss and/or damage which may be suffered by the Borrower.
Sample 1
Release of the Loan. The Company and EFC do hereby, for themselves, their -------------------- agents, successors and assigns, forever release, remise, acquit and forever discharge Xx. Xxxx and his heirs, successors, personal representatives and assigns, of and from all, and all manner of, action and actions, cause and causes of action, suits, damages, judgments, executions and claims whatever, in law or equity, which either ever had, has now or which any heir, successor, personal representative or assign of the Company or EFC can, shall or may have against Xx. Xxxx with respect to the Loan plus all interest. The aforementioned release is contingent upon Xx. Xxxx signing the share transfer deed for the Trux Shares in Collateral, attached as Schedule 2.
Sample 1
Release of the Loan. 5.1 The Lender shall only be liable to release of funds under the Loan Agreement provided that the following precedent conditions have been satisfied except that the waive or waive partly to the provisions herein: 5.1.1 Borrower has performed all the approvals, registrations, delivery and other legally-required procedures in accordance with relevant laws and regulations; 5.1.2 Where there is guarantee of this Loan Agreement, a related Guarantee Agreement meeting the requirements of the Lender has come into effect and such Guarantee and insurance will continue to be effective. 5.1.3 No event of default provided in this Loan Agreement has been conducted by the Borrower; 5.1.4 Other provisions of both parties: / 5.1.5 Release Plan: /
Sample 1
Release of the Loan. 1. At any time after the signing and entry into force of the Series of Cooperation Agreements, subject to the laws and regulations and industrial policies of the PRC, Party A has the right to, from time to time, provide Party B with loans in accordance with the terms and conditions hereof at the time and amount that Party A deems appropriate. Party B agrees to receive such loans from Party A in accordance with the terms and conditions hereof and issue, from the date of receipt of such loans, a receipt to Party A in the format shown in Appendix I. 2. The money to be lent by Party A to Party B shall be RMB funds obtained by Party A through business operations or other lawful means and suitable for serving as loans to Party B.
Sample 1

Related to Release of the Loan

  • Purpose of the Loan The purpose of the Loan is to provide financing for the Borrower’s activities and investments.

  • CONDITIONS OF EACH EXTENSION OF CREDIT The obligation of Bank to make each extension of credit requested by Borrower hereunder shall be subject to the fulfillment to Bank's satisfaction of each of the following conditions:

  • Disbursement of the Loan Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan Authorization and Agreement and the general requirements of SBA. · Disbursements may be made in increments as needed. · Other conditions may be imposed by SBA pursuant to general requirements of SBA. · Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in Borrower's financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet any of the terms or conditions of this Loan Authorization and Agreement. · NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD. · This Loan Authorization and Agreement will be binding upon Borrower and Borrower's successors and assigns and will inure to the benefit of SBA and its successors and assigns.

  • Repayment of the Loan Subject to the terms and conditions set forth in the Subordination Agreement and the Senior Credit Agreement, the Borrower shall, until such time as all outstanding Obligations (other than Unasserted Obligations (as defined in the Subordination Agreement)) shall have been paid in full, repay to the Lender the outstanding principal balance of the Loan on each of September 10, 2020, December 10, 2020 and March 10, 2021, in an amount on each such date equal to $25,000,000 less any amount that has been applied to pay any Senior Obligations pursuant to Section 2.05 of the Senior Credit Agreement on such date. For avoidance of doubt, except as otherwise as set forth in the immediately succeeding sentence, accrued interest on any such principal payment shall not become due and payable at such time, and shall instead be payable in accordance with Section 2.06 hereof. Notwithstanding the foregoing, if on any date on which a payment of principal is required to be made pursuant to the first sentence of this Section 2.05, less than the required payment amount of the principal balance of the Loan remains outstanding and unpaid, the Borrower shall pay the following obligations (if any) in the following order until either the sum paid on such date equals the required payment amount for such date or all outstanding Obligations (other than Unasserted Obligations (as defined in the Subordination Agreement)) have been paid in full: (A) outstanding unpaid principal of the Loan, (B) accrued and unpaid interest on the Loan and (C) all other outstanding Obligations (other than Unasserted Obligations (as defined in the Subordination Agreement)). The outstanding unpaid principal balance of the Loan and all accrued and unpaid interest on the Loan shall be due and payable on the Scheduled Maturity Date. If all of the outstanding principal balance of the Loan and accrued interest on the Loan are fully repaid on any date, this Agreement shall terminate as of such date. Any repayment or prepayment of the Loan that is allocated to the principal amount of the Loan shall reduce the Commitment of the Lender on a dollar for dollar basis. On each Scheduled Maturity Date prior to the Final Maturity Date, Borrower shall provide written notice (an “Extension Notice”) to the Lender not less than fifteen (15) Business Days prior to such Scheduled Maturity Date of the upcoming Scheduled Maturity Date, and, subject to lender’s confirmation of receipt of such notice, such Scheduled Maturity Date shall be extended by one additional calendar year, unless the Lender shall, in its sole and absolute discretion, have delivered written notice declining such Extension Notice not less than ten (10) Business Days prior to such Scheduled Maturity Date. If the Borrower fails to provide such Extension Notice (or fails to provide it not less than fifteen (15) Business Days prior to such Scheduled Maturity Date), then the Lender shall have the right to deliver a written notice declining any further extension (a “Non-Renewal Notice”) at any time prior to thirty (30) calendar days after the Scheduled Maturity Date, and effective upon the delivery of such Non-Renewal Notice, (i) if delivered prior to the applicable Scheduled Maturity Date, then no extension shall occur on the applicable Scheduled Maturity Date and such Scheduled Maturity Date shall constitute the Final Maturity Date, or (ii) if delivered after the applicable Scheduled Maturity Date, the date occurring two Business Days following the date of such Non-Renewal Notice shall constitute the Final Maturity Date. If no Extension Notice or Non-Renewal Notice is delivered, the Scheduled Maturity Date shall be extended by one additional calendar year.

  • Conditions Precedent to Each Extension of Credit The obligation of each Lender, the Swingline Bank and each LC Issuing Bank, as applicable, to make each Extension of Credit to be made by it hereunder (other than in connection with any Borrowing that would not increase the aggregate principal amount of Advances outstanding immediately prior to the making of such Borrowing) shall be subject to the satisfaction of the conditions precedent set forth in Section 3.01 and on the date of such Borrowing: (a) The following statements shall be true (and each of the giving of the applicable Notice of Borrowing and the acceptance by the applicable Borrower of the proceeds of any such Extension of Credit shall constitute a representation and warranty by such Borrower that on the date of such Extension of Credit such statements are true): (i) The representations and warranties of such Borrower contained in Section 4.01 (other than the representation and warranty in Section 4.01(e) and the representation and warranty set forth in the last sentence of Section 4.01(f)) are true and correct in all material respects on and as of the date of such Extension of Credit, before and after giving effect to such Extension of Credit and to the application of the proceeds therefrom, as though made on and as of such date, and (ii) No event has occurred and is continuing with respect to such Borrower, or would result from such Extension of Credit or from the application of the proceeds therefrom, that constitutes a Default. (b) The Administrative Agent shall have received such other approvals, opinions or documents as any Lender or LC Issuing Bank through the Administrative Agent may reasonably request.

  • Conditions Precedent to the Initial Extension of Credit The obligation of each Lender to make the initial extensions of credit provided for hereunder is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each of the conditions precedent set forth on Schedule 3.1 to this Agreement (the making of such initial extensions of credit by a Lender being conclusively deemed to be its satisfaction or waiver of the conditions precedent).

  • Conditions to Each Extension of Credit The agreement of each Lender to make any extension of credit requested to be made by it on any date (including its initial extension of credit) is subject to the satisfaction of the following conditions precedent:

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • Conditions Precedent to Initial Extension of Credit Before the first extension of credit under this agreement, whether by disbursement of a loan, issuance of a letter of credit, the funding of a Lease or otherwise, the Borrower shall deliver to the Bank, in form and substance satisfactory to the Bank:

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

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