The Loan Disbursement of Loan. The District agrees that upon satisfaction of the terms and conditions set forth in this Loan Agreement and compliance by the Borrower with those state laws dealing with the issuance of the Borrower Bond for the Project, it will loan to the Borrower an amount up to $5,000,000 (the “Committed Amount”) in accordance with the terms and conditions of this Loan Agreement, such Loan to be evidenced by the purchase by the District from the Borrower of the Borrower Bond, for the purpose of financing, refinancing, or reimbursing the Borrower for the eligible costs of the Project. The Loan shall be disbursed as follows:
The Loan Disbursement of Loan. The District hereby agrees to loan to the Borrower, from time to time as the requirements of this Section 4.1 are met, an amount of up to $14,000,000 (the "Committed Amount") for the purposes of financing, refinancing or reimbursing the Borrower for the costs of the Project. The Committed Amount may be reduced as provided in Sections 3.1(a), 3.2(b), 3.4 and 9.2. The Loan shall be disbursed as provided in this Section 4.1:
The Loan Disbursement of Loan
