Use of Loan and availability of other funds Sample Clauses

Use of Loan and availability of other funds. Each of the Borrowers shall use all amounts borrowed by it under the Loan for the execution of the Project. Each of the Borrowers shall ensure that it has available to it the other funds listed in Recital (2) and that such funds are expended, to the extent required, on the financing of the Project.
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Use of Loan and availability of other funds. The Borrower shall, and shall procure that the Promoter shall, use all amounts borrowed by the Borrower under the Loanand, as applicable, by the Promoter under the Loan Fund Transfer Agreement, for the execution of the Project. Upon written request by the Bank, the Borrower shall, and shall procure that the Promoter shall, provide to the Bank evidence of the use of the amounts borrowed by the Borrower under this Credit and, as applicable, by the Promoter under the Loan Fund Transfer Agreement. The Borrower shall make the proceeds of the Loan available to the Promoter in accordance with the Loan Fund Transfer Agreement on terms and conditions acceptable to the Bank.The Loan Fund Transfer Agreement shall provide, among other things, that disbursements under the Loan Fund Transfer Agreement will be made by the Borrower by way of a direct transfer of funds to the contractors engaged by the Promoter in connection with the Project in payment of amounts due and payable to such contractors under the contracts eligible for financing under this Contract. The Borrower shall not, and shall procure that the Promoter shall not, assign, amend, abrogate or waive any right or provision of the Loan Fund Transfer Agreement without the prior written consent of the Bank. The Borrower shall ensure that the Promoter has sufficient funds (including the funds listed in Recital (j)) available to it to complete the Project in accordance with this Contract and the Project Implementation Agreement, and that such funds are expended, to the extent required,on the financing of the Project.
Sample 1
Use of Loan and availability of other funds. The Borrower shall use all amounts borrowed by it under this Contract exclusively for the execution of the Project. The Borrower shall ensure that it has available to it the other funds listed in Recital (2) and that such funds are expended, to the extent required, on the financing of the Project. The Borrower shall ensure that the amount of the Credit shall not, in any case, exceed 50% (fifty per cent) of the total cost of the Project set out in Recital (4) and that the amount of the Credit together with any EU Grant shall not, in any case, exceed 90% (ninety per cent) of the total cost of the Project as set out in Recital (4).
Sample 1
Use of Loan and availability of other funds. The Borrower shall and shall cause the Final Beneficiaries to use the proceeds of the Loan exclusively for the financing of up to fifty per cent of the relevant Sub-Project’s costs. Ako, nadalje, prema bilo kojoj odredbi članka 4.03A Zajmo- primac prijevremeno otplati tranšu na datum koji nije rele- vantni xxx uplate, Zajmoprimac plaća odštetu Banci u onom iznosu xxxx Xxxxx potvrdi da je potreban kako bi se nadokna- dio primitak sredstava na datum drugi od relevantnog xxxx uplate.
Sample 1
Use of Loan and availability of other funds. The Borrower shall ensure that the proceeds of the Loan will be exclusively used for the financing of Schemes, to which allocation has been made pursuant to Article 1.09, under the On-lending Agreements. The Borrower shall ensure that it has available to it the other funds listed in Recital (2) and that such funds are expended, to the extent required, on the financing of the Project.
Sample 1
Use of Loan and availability of other funds. The Borrower shall onlend or grant the proceeds of the Loan to the Final Beneficiaries and shall procure that the Final Beneficiaries shall use such amounts exclusively for the execution of the Project. The Borrower shall ensure that it has available to it the other funds listed in Recital (2) and that such funds are expended, to the extent required, on the financing of the Project.
Sample 1

Related to Use of Loan and availability of other funds

  • Availability of Funds Unless Administrative Agent shall have been notified by any Lender prior to the applicable Credit Date that such Lender does not intend to make available to Administrative Agent the amount of such Lender’s Loan requested on such Credit Date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such Credit Date and Administrative Agent may, in its sole discretion, but shall not be obligated to, make available to Borrower a corresponding amount on such Credit Date. If such corresponding amount is not in fact made available to Administrative Agent by such Lender, Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest thereon, for each day from such Credit Date until the date such amount is paid to Administrative Agent, at the customary rate set by Administrative Agent for the correction of errors among banks for three Business Days and thereafter at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor, Administrative Agent shall promptly notify Borrower and Borrower shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from such Credit Date until the date such amount is paid to Administrative Agent, at the rate payable hereunder for Base Rate Loans for such Class of Loans. Nothing in this Section 2.5(b) shall be deemed to relieve any Lender from its obligation to fulfill its Term Loan Commitments and Revolving Commitments hereunder or to prejudice any rights that Borrower may have against any Lender as a result of any default by such Lender hereunder.

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