Common use of Revolving Nature of Loan Clause in Contracts

Revolving Nature of Loan. The Loan is a revolving loan and any amounts which are repaid may, subject to the terms of the Loan Documents limiting the amounts which may be drawn for any Project and the terms restricting disbursements of proceeds of the Loan, be redrawn.

Revolving Nature of Loan. The Loan is a revolving loan and any amounts which are borrowed to fund the cost of the Development Work, once repaid maymay be redrawn, subject to the terms of the Loan Documents limiting the amounts which may be drawn for any Project and the terms restricting disbursements disbursement of proceeds of the Loan, be redrawn.